The Eideard Group, Llc

Allegations: THE SEC ALLEGED THAT THE EIDEARD GROUP FAILED TO MAINTAIN SECURITIES OF CERTAIN PRIVATE FUNDS THAT IT ADVISED WITH A QUALIFIED CUSTODIAN AND FAILED TO CONDUCT AND TIMELY DISTRIBUTE ANNUAL AUDITED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ("GAAP") TO INVESTORS IN CERTAIN PRIVATE FUNDS ADVISED BY THE FIRM. Status: Final Sanction Detail: EIDEARD WAS CENSURED, ORDERED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTION 206(4) OF THE ADVISERS ACT AND RULE 206(4)-2 THEREUNDER, AND ORDERED TO PAY AN $80,000 FINE. THE FINE IS TO BE PAID IN INSTALLMENTS WITH THE FINAL PAYMENT DUE 359 DAYS FOLLOWING ENTRY OF THE ORDER (OR 8/30/2024). A COPY OF THE ORDER (ADMINISTRATIVE PROCEEDING FILE NO. 3-21608) CAN BE FOUND ON THE SEC'S WEBSITE (HTTPS://WWW.SEC.GOV/FILES/LITIGATION/ADMIN/2023/IA-6399.PDF). Summary: IN SEPTEMBER 2023, THE SEC ACCEPTED AN OFFER SUBMITTED BY EIDEARD TO SETTLE AN ADMINISTRATIVE PROCEEDING RELATING TO ALLEGATIONS OF COMPLIANCE VIOLATIONS CONCERNING CERTAIN PRIVATE FUNDS ADVISED BY THE FIRM. WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, EIDEARD CONSENTED TO THE SEC'S ENTRY OF AN ADMINISTRATIVE ORDER ("ORDER"). ACCORDING TO THE ORDER, EIDEARD FAILED TO MAINTAIN SECURITIES OF CERTAIN PRIVATE FUNDS THAT IT ADVISED WITH A QUALIFIED CUSTODIAN. THE ORDER ALSO FOUND THAT EIDEARD FAILED TO CONDUCT AND TIMELY DISTRIBUTE ANNUAL AUDITED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ("GAAP") TO INVESTORS IN CERTAIN PRIVATE FUNDS ADVISED BY THE FIRM. ACCORDING TO THE ORDER, THESE FAILURES RESULTED IN VIOLATIONS OF SECTION 206(4) OF THE ADVISERS ACT AND RULE 206(4)-2 THEREUNDER, COMMONLY REFERRED TO AS THE "CUSTODY RULE." PURSUANT TO THE ORDER, EIDEARD WAS CENSURED, ORDERED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTION 206(4) OF THE ADVISERS ACT AND RULE 206(4)-2 THEREUNDER, AND ORDERED TO PAY AN $80,000 FINE. A COPY OF THE ORDER (ADMINISTRATIVE PROCEEDING FILE NO. 3-21608) CAN BE FOUND ON THE SEC'S WEBSITE (HTTPS://WWW.SEC.GOV/FILES/LITIGATION/ADMIN/2023/IA-6399.PDF).