- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-03-25T20:14:00
Advisor Resource Council (ARC) agreed to pay a $300,000 penalty to resolve charges levied by the Securities and Exchange Commission (SEC) of compliance failures exacerbated by staffing woes.
The Texas-based registered investment adviser was charged in September with making false and misleading statements in its Form ADV brochures and failing to adopt policies and procedures to ensure fair and equitable trade allocations among its advisory clients. The SEC announced final judgment against the firm in a litigation release published Friday.
ARC consented to the retention of an independent compliance consultant as part of its resolution.
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