Richards Financial LLC

2 3. Respondent Richards Financial, LLC (“Respondent RFL”), CRD # 160351, was, at all material times herein, a Pennsylvania limited liability company with an address at 4. From in or about June 2012 until the present, Respondent RFL was registered pursuant to Section 301(c) of the 1972 Act, 70 P.S. § 1-301(c), as an investment adviser. 5. Regulation 303.012(i) provides that "[a]n investment adviser registered under the [1972 Act] shall take steps necessary to ensure that material information contained in its Form ADV and exhibits remains current and accurate. If a material statement made in Form ADV and exhibits becomes incorrect or inaccurate the investment adviser shall file with the Department an amendment on Form ADV within 30 days of the occurrence of the event which requires the filing of the amendment." 10 Pa. Code§ 303.012(i). 6. At all times material herein, RFL did not take steps necessary to ensure that material information contained in its Form ADV and exhibits remains current and accurate. VIOLATION 7. By engaging in the acts and conduct set forth in paragraphs 3 through 6 above, Respondent RFL failed to take steps necessary to ensure that material information contained in its Form ADV and exhibits remains current and accurate to achieve compliance with the 1972 Act and other securities laws and regulations, which acts and conduct form a basis to deny, suspend, revoke, or condition the registration of Respondent RFL or to censure Respondent RFL pursuant to Section 305(a)(v) of the 1972 Act, 70 P.S. § 1-305(a)(v), and Regulation 303.012(i), 10 Pa. Code § 303.012(i), promulgated thereunder. Redacted Redacted