Henley & Company Wealth Management Llc

Allegations: THE SECURITIES AND EXCHANGE COMMISSION ("SEC") HAS ENTERED AN ORDER (THE "ORDER") AGAINST HENLEY & COMPANY WEALTH MANAGEMENT, LLC ("HENLEY") FOR BREACHES OF FIDUCIARY DUTY AND INADEQUATE DISCLOSURES IN CONNECTION WITH ITS MUTUAL FUND SHARE CLASS SELECTION PRACTICES AND THE FEES IT, ITS AFFILIATE BROKER, AND ITS ASSOCIATED PERSON RECEIVED. HENLEY VOLUNTARILY PARTICIPATED IN THE SEC'S SHARE CLASS SELECTION DISCLOSURE INITIATIVE. IN THE ORDER, THE SEC FOUND THAT AT TIMES DURING THE PERIOD FROM JANUARY 2014 TO JUNE 2017 HENLEY PURCHASED, RECOMMENDED OR HELD FOR ADVISORY CLIENTS MUTUAL FUND SHARE CLASSES THAT CHARGED 12B-1 FEES INSTEAD OF LOWER-COST SHARE CLASSES OF THE SAME FUNDS FOR WHICH THE CLIENTS WERE ELIGIBLE. HENLEY, ITS AFFILIATED BROKER-DEALER AND ITS ASSOCIATED PERSONS RECEIVED 12B-1 FEES IN CONNECTION WITH THESE INVESTMENTS, AND HENLEY FAILED TO DISCLOSE IN ITS FORM ADV OR OTHERWISE THE CONFLICTS OF INTEREST RELATED TO (A) ITS RECEIPT OF 12B-1 FEES AND/OR (B) ITS SELECTION OF MUTUAL FUND SHARE CLASSES THAT PAY SUCH FEES, IN VIOLATION OF SECTIONS 206(2) OF THE ADVISERS ACT. Status: Final Sanction Detail: DISGORGEMENT OF $32,657 AND INTEREST $4,209 Summary: WITHOUT ADMITTING OR DENYING THE UNDERLYING, HENLEY & COMPANY WEALTH MANAGEMENT LLC OFFERED TO ACCEPT A CENSURE, AN ORDER TO CEASE AND DESIST FROM SUCH, AND PAY ELIGIBLE CUSTOMERS AN ESTIMATED $32,657 IN DISGORGEMENT AND $4,209 IN INTEREST. HENLEY & COMPANY WEALTH MANAGEMENT LLC HAS AGREED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS OF SECTIONS 206(2) OF THE ADVISERS ACT.