Welcy Capital Advisors Llc

Allegations: RESPONDENT VIOLATED RULE 69W-600.0024(9)(A), FLORIDA ADMINISTRATIVE CODE, BY FAILING TO TIMELY FILE A FORM U 5 FOR ABREU; B. RESPONDENT VIOLATED RULE 69W-600.0016(5)(A), FLORIDA ADMINISTRATIVE CODE, BY FAILING TO MAINTAIN AT LEAST ONE ASSOCIATED PERSON REGISTERED AND DESIGNATED, VIA NOTIFICATION TO THE OFFICE, AS PRINCIPAL PURSUANT TO SECTION 51 7 .12, FLORIDA STATUTES, AND THE RULES PROMULGATED THEREUNDER; C. RESPONDENT VIOLATED RULE 69W-600.0132(2)(F), FLORIDA ADMINISTRATIVE CODE, BY FAILING TO TIMELY CONDUCT AN ANNUAL AUDIT OF THE CASTELLANA FUND; D. RESPONDENT VIOLATED RULE 69W-600.0131(1)(W), FLORIDA ADMINISTRATIVE CODE, BY FAILING TO ENFORCE ITS WRITTEN POLICIES AND PROCEDURES WITH RESPECT TO TIMELY CONDUCTING AN AUDIT OF THE CASTELLANA FUND; AND E. RESPONDENT VIOLATED RULE 69W-600.0132(2)(I)2.B., FLORIDA ADMINISTRATIVE CODE, BY FAILING TO SEND ITEMIZED INVOICES TO ONE OR MORE CLIENTS THAT WERE IN COMPLIANCE WITH SAFEKEEPING REQUIREMENTS, BY NOT INCLUDING THE FORMULA USED TO CALCULATE THE FEE. Status: Final Sanction Detail: TO CEASE AND DESIST FROM VIOLATIONS OF CHAPTER 517, FLORIDA STATUTES, AND THE OFFICE'S RULES PROMULGATED THEREUNDER, AND SHALL HENCEFORTH STRICTLY COMPLY WITH ALL PROVISIONS OF CHAPTER 517, FLORIDA STATUTES, AND THE RULES PROMULGATED THERETO; AND B. AN IMPOSITION OF AN ADMINISTRATIVE FINE AGAINST RESPONDENT IN THE AMOUNT OF $6,002.00. Summary: THE FIRM PAID THE FINE AS AGREED.