Commodore Asset Management Registration Revoked with $500 Penalty
Summary
The Washington State Department of Financial Institutions Division of Securities issued a Consent Order (S-25-4018-25-CO01) against Commodore Asset Management, LLC and Darnell Lee Commodore on March 17, 2026. The order imposes a $500 penalty, revokes the firm's securities registration, and requires heightened supervision for 2 years upon any new registration. The enforcement action stems from the respondents' failure to file their 2024 balance sheet and 2024 annual updating amendments.
What changed
The WA DFI Division of Securities entered a Consent Order (S-25-4018-25-CO01) against Commodore Asset Management, LLC and Darnell Lee Commodore for violations of RCW 21.20.110, WAC 460-24A-060, and WAC 460-24A-205. The respondents failed to file their required 2024 balance sheet and annual updating amendments. The order imposes a $500 civil penalty, revokes the firm's investment adviser registration, and mandates 2 years of heightened supervision if the firm seeks re-registration.
Regulated investment advisers and financial services firms operating in Washington State should immediately review their annual filing obligations under state securities regulations. Failure to timely file balance sheets and annual amendments may result in registration revocation, civil penalties, and mandatory supervisory requirements. The case demonstrates WA DFI's enforcement posture regarding basic compliance obligations.
What to do next
- Review Washington State securities registration filing requirements to ensure all annual updates and financial statements are current
- Implement filing calendar controls to track balance sheet and annual amendment deadlines
- Consult with securities counsel if any filings are overdue to proactively address deficiencies before enforcement action
Penalties
$500 civil penalty plus revocation of registration and 2 years of heightened supervision upon new registration
Archived snapshot
Apr 6, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Commodore Asset Management, LLC, Darnell Lee Commodore – Consent Order – S-25-4018-25-CO01
Case summary
On March 17, 2026, the Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-25-4018-25-CO01) against Commodore Asset Management, LLC, Darnell Lee Commodore.
Order details
Order File: S-25-4018-25-CO01
Laws & Rules: RCW 21.20.110, WAC 460-24A-060, WAC 460-24A-205
Penalties/Remedies:
- Penalty: $500
- Revocation of registration
- Heightened supervision for 2 years upon new registration
Findings
- The Respondents failed to file their 2024 balance sheet.
- The Respondents failed to file their 2024 annual updating amendments.
Order file
Related Order
Related changes
Get daily alerts for WA DFI Securities Enforcement
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from WA DFI.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when WA DFI Securities Enforcement publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.