Regulatory Alerts2024-04-05
Consent Agreement and Order Regarding Groundwork Wealth Management, LLC
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Groundwork Wealth Management, LLC for violating the Pennsylvania Securities Act of 1972 by failing to maintain reasonable written procedures for leveraged ETFs. The firm agreed to pay a $50,000 administrative assessment in eight quarterly installments without admitting or denying the allegations. The Order mandates strict compliance with state securities laws and reserves the Department's right to impose additional sanctions for future non-compliance.
Share