Prestige Investment Management LLC – Consent Order S-23-3692-25-CO01
Summary
WA DFI Securities Division issued a Consent Order against Prestige Investment Management LLC on March 18, 2026, imposing a $10,000 fine, $2,500 in investigative costs, and a cease and desist order. The firm was found to have offered and sold an unregistered investment to a Washington resident in 2014 via a Deferred Sales Trust transaction. The firm is not registered to sell securities in Washington State.
What changed
The Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-23-3692-25-CO01) against Prestige Investment Management LLC on March 18, 2026, for violations of RCW 21.20.140. The firm was ordered to pay a $10,000 fine and $2,500 in investigative costs, and must cease and desist from selling unregistered securities. The violations involved offering and selling a Deferred Sales Trust investment to a Washington resident in 2014 without being registered to sell securities in the state.
Affected parties including investment managers, broker-dealers, and securities issuers must ensure proper registration before offering or selling securities in Washington State. Non-registered entities face similar enforcement action including monetary penalties and cease and desist orders under the state's securities laws.
What to do next
- Pay $10,000 fine and $2,500 investigative costs within stated deadline
- Cease and desist from offering or selling unregistered securities in Washington
- Ensure proper securities registration before future sales activities in Washington State
Penalties
$10,000 fine plus $2,500 investigative costs and cease and desist order
Source document (simplified)
Prestige Investment Management LLC – Consent Order – S-23-3692-25-CO01
Case summary
On March 18, 2026, the Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-23-3692-25-CO01) against Prestige Investment Management LLC.
Order details
Order File: S-23-3692-25-CO01
Laws & Rules: RCW 21.20.140
Penalties/Remedies:
- Fine: $10,000
- Investigative costs: $2,500
- Cease and desist
Findings
- In 2014, the Respondent offered and sold an unregistered investment to a Washington resident in the form of a Deferred Sales Trust transaction.
- The Respondent is not registered to sell its securities in Washington.
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