Kahn Brothers Asset Management Corp

Allegations: ON JUNE 6, 2022 KAHN BROTHERS ADVISORS AND THOMAS KAHN AGREED TO A SETTLEMENT WITH THE SEC THROUGH AN ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS IN WHICH THE PARTIES DID NOT ADMIT OR DENY A NARRATIVE OF EVENTS CONCERNING AGGREGATION, DISCLOSURE AND PROCEDURES RELATED TO CLIENTS BROKERING WITH AN AFFILIATED BROKER-DEALER. Status: Final Sanction Detail: MONETARY FINE OF $250,000, DISGORGEMENT OF $701,799 AND PREJUDGMENT INTEREST OF $146,100 WERE PAID IN FULL ON 06/16/2022. Summary: KAHN BROTHERS ADVISORS NOTIFIED ADVISORY CLIENTS OF THE ORDER PURSUANT TO PARAGRAPH 25 BY 07/06/2022 AS REQUIRED AND OBTAINED SEC STAFF APPROVAL FOR THE COVER LETTER TO ACCOMPANY THE ORDER. IT UPDATED ITS POLICIES AND PROCEDURES AND DISCLOSURE DOCUMENTS IN EARLY 2020 AND FURTHER REVISED DISCLOSURE DOCUMENTS PURSUANT TO PARAGRAPH 26 BY 07/21/2022 AS REQUIRED. ITS AFFILIATED BROKER-DEALER REVISED ITS COMMISSION STRUCTURE FOR KAHN BROTHERS ADVISORS' ADVISORY CLIENTS AND ADDRESSED PARAGRAPH 27 BY 08/06/2022. FOLLOWING THE COMPLETION OF THESE ITEMS, THE FIRM CERTIFIED IN WRITING AS REQUIRED ITS COMPLETION OF THE ABOVE UNDERTAKINGS.