Regulatory Alerts2024-02-26
Commonwealth of Pennsylvania Department of Banking and Securities v. G. Earl Mowrey & Co., LLC and George Earl Mowrey
The Pennsylvania Banking and Securities Commission issued a Final Order sustaining violations of the Pennsylvania Securities Act against G. Earl Mowrey & Co., LLC and George Earl Mowrey for operating as unregistered investment advisors from 2012 to 2021. The Commission ordered the respondents to pay a joint and several administrative assessment of $213,668.51, which was adjusted from the Hearing Officer's initial recommendation to reflect the actual fees earned from Pennsylvania clients. The order mandates payment within thirty days and informs the respondents of their right to appeal to the Commonwealth Court of Pennsylvania within 30 days of the mailing date.
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