SEC Order Instituting Administrative and Cease-and-Disist Proceedings Against The Robare Group, Ltd. and Principals

The Securities and Exchange Commission instituted administrative and cease-and-desist proceedings against The Robare Group, Ltd., Mark L. Robare, and Jack L. Jones Jr. for failing to disclose compensation received from a registered broker-dealer for investing client assets in non-transaction fee mutual funds. The respondents willfully violated Sections 206(1), 206(2), and 207 of the Investment Advisers Act of 1940 by omitting material facts regarding these conflicts of interest in their Form ADV filings and client communications. The proceedings seek determinations on remedial actions, including disgorgement of approximately $441,000 in received fees and the imposition of civil penalties.

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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 72950 / September 2, 2014
INVESTMENT ADVISERS ACT OF 1940
Release No. 3907 / September 2, 2014
INVESTMENT COMPANY ACT OF 1940
Release No. 31237 / September 2, 2014
ADMINISTRATIVE PROCEEDING
File No. 3-16047
In the Matter of
THE ROBARE GROUP,
LTD., MARK L. ROBARE,
AND JACK L. JONES JR.,
Respondents.
ORDER INSTITUTING
ADMINISTRATIVE AND CEASE-ANDDESIST PROCEEDINGS PURSUANT TO
SECTION 15(b)(6) OF THE SECURITIES
EXCHANGE ACT OF 1934, SECTIONS
203(e), 203(f) AND 203(k) OF THE
INVESTMENT ADVISERS ACT OF 1940,
AND SECTION 9(b) OF THE
INVESTMENT COMPANY ACT OF 1940
AND NOTICE OF HEARING
I.
The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 (“Exchange Act”), Sections 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940 (“Advisers Act”), and
Section 9(b) of the Investment Company Act of 1940 (“Investment Company Act”) against The
Robare Group, Ltd. (“Robare Group”), Mark L. Robare (“Robare”) and Jack L. Jones Jr. (“Jones”), (collectively “Respondents”). II. After an investigation, the Division of Enforcement alleges that:

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