Regulatory Alerts2024-02-23
Consent Agreement and Order: Keystone Investment Advisors, LLC
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Keystone Investment Advisors, LLC for failing to maintain reasonable written procedures for inverse and leveraged ETFs between May 2022 and June 2023. The firm agreed to pay a $20,000 administrative assessment in installments through October 2025 without admitting or denying the allegations. The Order mandates compliance with the Pennsylvania Securities Act of 1972 and reserves the Department's right to impose additional sanctions for future violations or non-payment.
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