SEC Files Notice of RIA Cancellation for Insufficient Assets
SEC Files Notice of RIA Cancellation for Insufficient Assets (2/9/12; In re Gravity Capital Partners)
In what may become a common occurrence, the SEC has filed a Notice of Intention to Cancel an adviser’s registration for failing to maintain sufficient assets under management. The Notice indicates that the SEC believes that the adviser does not have sufficient assets under management (now $90 Million) to maintain SEC registration. The adviser has 30 days to object.