Regulatory Alerts2025-01-10
Commonwealth of Pennsylvania Department of Banking and Securities v. Venn Wealth & Benefit Services, LLC
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Venn Wealth & Benefit Services, LLC for violating the Pennsylvania Securities Act of 1972 by failing to maintain reasonable written procedures for inverse and leveraged exchange-traded funds. The firm agreed to pay a $20,000 administrative assessment in eight installments through October 2026 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 any future non-compliance.
Share