Regulatory Alerts2024-10-21
Pennsylvania Department of Banking and Securities Order to Cease and Desist Against 412 Management LLC d/b/a Wilson Insight and Robert Wilson
The Pennsylvania Department of Banking and Securities issued a Summary Order to Cease and Desist against 412 Management LLC d/b/a Wilson Insight and Robert Wilson for violating the Pennsylvania Securities Act of 1972. The order finds that the respondents operated as an unregistered investment adviser in Pennsylvania from September 2013 to May 2024, charging fees to at least 22 residents while lacking required registration or exemption. The Department mandates that the respondents immediately cease and desist from transacting business as an investment adviser in the Commonwealth and grants them the right to request a hearing within 30 days to contest the order.
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