Regulatory Alerts2024-11-18
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Consent Agreement and Order: Commonwealth of Pennsylvania Department of Banking and Securities v. Key Wealth Management, Inc.
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Key Wealth Management, Inc. for failing to establish and maintain required written compliance procedures for inverse exchange-traded funds. The firm agreed to pay an administrative assessment of $31,383 in six installments through April 2026 without admitting or denying the allegations. Key Wealth is also ordered to comply with the Pennsylvania Securities Act and waives its right to a hearing or appeal regarding these terms.
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