Keating Investment Counselors Inc

Allegations: IN APRIL 2017, AN INTERNAL REVIEW BY KEATING INVESTMENT COUNSELORS DISCOVERED THAT MR. RICHARD KEATING AND MR. PHILIP KEATINGS' REGISTRATIONS WITH THE STATE OF FLORIDA HAD DISCREPANCIES. THE STATE OF FLORIDA WAS IMMEDIATELY NOTIFIED IN ORDER TO CORRECT THIS PAPERWORK. ON JUNE 1, 2017, A FINAL ORDER WAS ISSUED BY THE STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION AND AGREED UPON BY RICHARD KEATING AND PHILIP KEATING, STIPULATING THAT BOTH GENTLEMEN CONDUCTED INVESTMENT ADVISORY BUSINESS ACTIVITIES FROM A LOCATION WITHIN THE STATE OF FLORIDA WITHOUT PROPER REGISTRATION FROM 2012 TO APRIL 2017 IN VIOLATION OF SECTION 517.12(1), FLORIDA STATUTES. THIS MATTER HAS BEEN RESOLVED EFFECTIVE JUNE 1, 2017. BOTH, RICHARD KEATING AND PHILIP KEATING HAVE BEEN APPROVED BY THE STATE OF FLORIDA TO CONDUCT INVESTMENT ADVISORY BUSINESS ACTIVITIES WITHIN THE STATE. DURING THE PERIOD OF NONCOMPLIANCE WITH FLORIDA'S REGISTRATION SYSTEM, BOTH GENTLEMEN POSSESSED THE KNOWLEDGE AND DESIGNATIONS REQUIRED TO PROVIDE INVESTMENT ADVISORY SERVICES TO THE CLIENTS OF KEATING INVESTMENT COUNSELORS. SPECIFICALLY, RICHARD KEATING WAS AWARDED THE CHARTERED FINANCIAL ANALYST (CFA) DESIGNATION IN 2011 AND PHILIP KEATING WAS AWARDED THE CHARTERED FINANCIAL ANALYST DESIGNATION (CFA) IN 1991. THIS VIOLATION WAS DUE TO AN ADMINISTRATIVE OVERSIGHT AND SYSTEM FUNCTIONALITY ISSUE. EFFECTIVE MARCH 31, 2021, PHILIP KEATING CEASED TO BE THE CHIEF INVESTMENT OFFICER AND SENIOR PORTFOLIO MANAGER OF KEATING INVESTMENT COUNSELORS, INC. (KICI). Status: Final Sanction Detail: DUE TO THE ADMINISTRATIVE OVERSIGHT, RICHARD KEATING PAID AN ADMINISTRATIVE FINE OF $35,000 ON JUNE 2, 2017. THE STATE OF FLORIDA APPROVED THE REGISTRATION ON JUNE 2, 2017. DUE TO THE ADMINISTRATIVE OVERSIGHT, PHILIP KEATING PAID AN ADMINISTRATIVE FINE OF $35,000 ON JUNE 2, 2017. THE STATE OF FLORIDA APPROVED THE REGISTRATION ON JUNE 5, 2017. Summary: IN APRIL 2017, AN INTERNAL REVIEW BY KEATING INVESTMENT COUNSELORS DISCOVERED THAT MR. RICHARD KEATING AND MR. PHILIP KEATINGS' REGISTRATIONS WITH THE STATE OF FLORIDA HAD DISCREPANCIES. THE STATE OF FLORIDA WAS IMMEDIATELY NOTIFIED IN ORDER TO CORRECT THIS PAPERWORK. ON JUNE 1, 2017, A FINAL ORDER WAS ISSUED BY THE STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION AND AGREED UPON BY RICHARD KEATING AND PHILIP KEATING, STIPULATING THAT BOTH GENTLEMEN CONDUCTED INVESTMENT ADVISORY BUSINESS ACTIVITIES FROM A LOCATION WITHIN THE STATE OF FLORIDA WITHOUT PROPER REGISTRATION FROM 2012 TO APRIL 2017 IN VIOLATION OF SECTION 517.12(1), FLORIDA STATUTES. THIS MATTER HAS BEEN RESOLVED EFFECTIVE JUNE 1, 2017. BOTH, RICHARD KEATING AND PHILIP KEATING HAVE BEEN APPROVED BY THE STATE OF FLORIDA TO CONDUCT INVESTMENT ADVISORY BUSINESS ACTIVITIES WITHIN THE STATE. DURING THE PERIOD OF NONCOMPLIANCE WITH FLORIDA'S REGISTRATION SYSTEM, BOTH GENTLEMEN POSSESSED THE KNOWLEDGE AND DESIGNATIONS REQUIRED TO PROVIDE INVESTMENT ADVISORY SERVICES TO THE CLIENTS OF KEATING INVESTMENT COUNSELORS. SPECIFICALLY, RICHARD KEATING WAS AWARDED THE CHARTERED FINANCIAL ANALYST (CFA) DESIGNATION IN 2011 AND PHILIP KEATING WAS AWARDED THE CHARTERED FINANCIAL ANALYST DESIGNATION (CFA) IN 1991. THIS VIOLATION WAS DUE TO AN ADMINISTRATIVE OVERSIGHT AND SYSTEM FUNCTIONALITY ISSUE. EFFECTIVE MARCH 31, 2021, PHILIP KEATING CEASED TO BE THE CHIEF INVESTMENT OFFICER AND SENIOR PORTFOLIO MANAGER OF KEATING INVESTMENT COUNSELORS, INC. (KICI).