Regulatory Alerts2023-11-09
Consent Agreement and Order: Commonwealth of Pennsylvania v. Wolff Asset Management and Elizabeth Dorothea Wolff
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Wolff Asset Management LLC and Elizabeth Dorothea Wolff for violating the Pennsylvania Securities Act of 1972. The respondents failed to file required audited balance sheets and neglected to establish written procedures for a business continuity and succession plan. As relief, the order imposes a $50,000 administrative assessment payable in installments and mandates strict compliance with state securities regulations.
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