Hrc Wealth Management, Llc

Allegations: ON OR AROUND AUGUST 2, 2016, HRC HIRED A NEW INVESTMENT ADVISORY REPRESENTATIVE. HRC REQUESTED ON AT LEAST TWO SEPARATE OCCASIONS THAT ITS COMPLIANCE FIRM, ADVANCED REGULATORY COMPLIANCE LLC ("ARC"), FILE THE NECESSARY FORM, CALLED FORM U4, TO REQUEST REGISTRATION FOR SAID INVESTMENT ADVISER REPRESENTATIVE AND ARC REPRESENTED THAT IT FILED THE FORM. HOWEVER, NO SUCH FORM WAS FILED. HRC DID NOT CONFIRM THROUGH THE INVESTMENT ADVISER REGISTRATION DEPOSITORY, ALSO KNOWN AS IARD, THAT ITS INVESTMENT ADVISER REPRESENTATIVE WAS REGISTERED PRIOR TO AND SUBSEQUENTLY ALLOWING HIM TO CONDUCT BUSINESS FROM AUGUST 2, 2016 TO FEBRUARY 25, 2019 WITHOUT BEING REGISTERED AS REQUIRED IN RCW 21.20.040. Status: Final Sanction Detail: DISPOSITION RESULTED IN $12,000 FINE WHICH WAS PAID ON 3/25/19. Summary: ON OR AROUND AUGUST 2, 2016, HRC HIRED A NEW INVESTMENT ADVISORY REPRESENTATIVE. HRC REQUESTED ON AT LEAST TWO SEPARATE OCCASIONS THAT ITS COMPLIANCE FIRM, ADVANCED REGULATORY COMPLIANCE, LLC ("ARC"), FILE THE NECESSARY FORM, CALLED FORM U4, TO REQUEST REGISTRATION FOR SAID INVESTMENT ADVISER REPRESENTATIVE AND ARC REPRESENTED THAT IT FILED THE FORM. HOWEVER, NO SUCH FORM WAS FILED. HRC DID NOT CONFIRM THROUGH THE INVESTMENT ADVISER REGISTRATION DEPOSITORY, ALSO KNOWN AS IARD, THAT ITS INVESTMENT ADVISER REPRESENTATIVE WAS REGISTERED PRIOR TO AND SUBSEQUENTLY ALLOWING HIM TO CONDUCT BUSINESS FROM AUGUST 2, 2016 TO FEBRUARY 25, 2019 WITHOUT BEING REGISTERED AS REQUIRED IN RCW 21.20.040. THIS VIOLATED RCW 21.20.040(5)(B). PURSUANT TO RCW 21.20.110(1) (B), SUCH A VIOLATION IS A BASIS TO ENTER AN ORDER TO IMPOSE A FINE AGAINST HRC WHICH AMOUNTED TO $12,000 AND RESOLVED THIS MATTER PURSUANT TO A CONSENT ORDER. IT IS NOTED THAT HRC THROUGH ARC BROUGHT THIS MATTER TO THE ATTENTION OF THE STATE OF WASHINGTON, DEPARTMENT OF FINANCIAL INSTITUTIONS SECURITIES DIVISION WHEN THE FAILURE TO REGISTER A CERTAIN INVESTMENT ADVISER REPRESENTATIVE WAS DISCOVERED.