SWBC Investment Services LLC Consent Order and Penalty

The South Dakota Division of Securities has entered into a consent order with SWBC Investment Services LLC, imposing a penalty of $25,000. The order addresses violations including the sale of unregistered securities and failure to supervise. SWBC Investment Services LLC has agreed to the terms of the order without admitting or denying the findings.

This enforcement action signifies a serious regulatory action against SWBC Investment Services LLC. Compliance officers at financial advisory firms and broker-dealers should review their internal controls and supervisory procedures to ensure compliance with state securities laws, particularly concerning the sale of securities and registration requirements. Failure to comply could result in similar enforcement actions and penalties.