Hepworth Equity Partners, Llc

Allegations: HEPWORTH EQUITY PARTNERS MOVED THE FIRM'S PRINCIPAL PLACE OF BUSINESS TO NEW HAMPSHIRE IN 2011. FROM 2011 TO 2012, DURING THIS TIME, THE FIRM'S INVESTMENT ADVISER REPRESENTATIVES WERE NOT PROPERLY LICENSED WITH THE STATE OF NEW HAMPSHIRE. Status: Final Sanction Detail: HEPWORTH EQUITY PARTNERS AGREED TO PAY A SETTLEMENT FINE OF $6,000 (ALL LEVIED AGAINST THE FIRM AND NONE LEVIED AGAINST THE ADVISORY AFFILIATES). THIS AMOUNT WAS PAID ON 09/19/2012; NO PORTION OF THE PENALTY WAS WAIVED. Summary: HEPWORTH EQUITY PARTNERS AND ITS INVESTMENT ADVISER REPRESENTATIVES (IARS), MICHAEL HEPWORTH AND BONNIE CHEN AVES, AGREED TO A CONSENT ORDER FOR UNLICENSED INVESTMENT ADVISER REPRESENTATIVE ACTIVITY IN SEPTEMBER 2012. THE ORDER WAS THE RESULT OF AN OVERSIGHT BY HEPWORTH EQUITY PARTNERS AND ITS IARS DUE TO THE RELOCATION OF THE FIRM'S OPERATIONS TO NEW HAMPSHIRE IN 2011. THOUGH HEPWORTH EQUITY PARTNERS WAS NOT REQUIRED TO BE LICENSED WITH THE STATE OF NEW HAMPSHIRE, THE FIRM AND ITS IARS WERE UNAWARE THAT THE IARS WERE REQUIRED TO BE LICENSED WITH THE STATE. AS A RESULT, THE IARS WERE INADVERTENTLY IN VIOLATION OF THE STATES LICENSING REQUIREMENTS FROM APPROXIMATELY MARCH 2011 TO JUNE 2012. NO CLIENTS SUFFERED ANY HARM AS A RESULT OF THE VIOLATIONS, AND THE STATE OF NEW HAMPSHIRE SUBSEQUENTLY LICENSED HEPWORTH EQUITY PARTNERS, MR. HEPWORTH AND MS. AVES.