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Business ProfileforCarmel Capital Management L.L.C.
Additional business information
July 26, 2021, The following describes a settlement that has been formally brought by a government agency. The Security and Exchange Commission alleges, and charges as follows:
The Securities and Exchange Commission today announced that 21 investment advisers and 6 broker-dealers have agreed to settle charges that they failed to timely file and deliver their client or customer relationship summaries - known as Form CRS - to their retail investors.
On June 5, 2019, the SEC adopted Form CRS and required SEC-registered investment advisers and SEC-registered broker-dealers to file their respective Forms CRS with the SEC, begin delivering them to prospective and new retail investors by June 30, 2020, and deliver them to existing retail investor clients or customers by July 30, 2020. The SEC also required firms to prominently post their current Form CRS on their website, if they had one. According to the SEC's orders, each of the firms charged today missed those regulatory deadlines. The orders find that none of the firms filed or delivered its Form CRS, or posted it to its website, until being twice reminded of the missed deadlines by their regulators--in the case of investment advisers, by the SEC's Division of Examinations, and in the case of broker-dealers, by the Financial Industry Regulatory Authority.
"Registration with the SEC as an investment adviser or broker-dealer comes with mandated filing and disclosure obligations," said Gurbir S. Grewal, Director of the SEC's Enforcement Division. "Today's cases reinforce the importance of meeting those obligations and providing retail investors with information that is intended to help them understand their relationships with their securities industry professionals."
"Form CRS is intended to provide retail investors with a brief summary about the services a firm offers, its fees, conflicts of interest, and other information that can help investors make more informed choices," said Adam S. Aderton, Co-Chief of the SEC Enforcement Division's Asset Management Unit. "By failing to file, deliver, and post this form, these firms deprived their clients and customers of the benefits of that information."
To access the full The Security and Exchange Commission press release, please visit: https://www.sec.gov/news/press-release/2021-139
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Business Details
- Location of This Business
- 26350 Carmel Rancho Ln #225, Carmel, CA 93923-8734
- BBB File Opened:
- 8/19/2002
- Years in Business:
- 25
- Business Started:
- 1/1/1999
- Business Incorporated:
- 10/6/1999
- Accredited Since:
- 9/1/2002
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
- Type of Entity:
- Limited Liability Company (LLC)
- Business Management
- Mr. West D. Whittaker, C.F.A., Owner
- Contact Information
Principal
- Mr. West D. Whittaker, C.F.A., Owner
Customer Contact
- Mr. West D. Whittaker, C.F.A., Owner
- Ms. Kimberly Wilson, Office Manager
- Additional Contact Information
Fax Numbers
- (831) 625-6493Primary Fax
- (831) 625-6493
Customer Complaints
0 Customer Complaints
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