Kensington Asset Management, Llc

Allegations: TRENT SCHNEITER WAS NAMED A RESPONDENT IN A FINRA COMPLAINT ALLEGING THAT AS A SUPERVISING PRINCIPAL AND COMPLIANCE OFFICER IN CHARGE OF ALTERNATIVE INVESTMENTS AT HIS MEMBER FIRM, HE WAS RESPONSIBLE FOR SUPERVISING A REGISTERED REPRESENTATIVE'S DUE DILIGENCE FOR A PRIVATE PLACEMENT SECURITIES OFFERING AND FOR CONDUCTING HIS OWN DUE DILIGENCE OF THE "ALTERNATIVE INVESTMENT." THE COMPLAINT ALLEGED THAT SCHNEITER FAILED TO ADEQUATELY SUPERVISE THE REGISTERED REPRESENTATIVE AND TO ENSURE THAT THE REGISTERED REPRESENTATIVE CONDUCTED REASONABLE DUE DILIGENCE ON THE PRIVATE PLACEMENT SECURITIES OFFERING, AND HE DID NOT CONDUCT HIS OWN ADEQUATE DUE DILIGENCE. THE COMPLAINT ALSO ALLEGED THAT SCHNEITER FAILED TO PROVIDE PROMPT WRITTEN NOTICE TO THE FIRM THAT HE OWNED A 5% INTEREST IN THE GENERAL PARTNER OF THE PRIVATE PLACEMENT SECURITIES OFFERING, AND ALSO WAS THE CHIEF COMPLIANCE OFFICER (CCO) OF THE GENERAL PARTNER. Status: Final Sanction Detail: THE MONETARY FINE WAS PAID ON JUNE 7, 2016. MR. SCHNEITER WAS SUSPENDED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY FOR ONE MONTH AND SUSPENDED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY PRINCIPAL CAPACITY FOR THREE MONTHS. THE SUSPENSION IN ANY CAPACITY WAS IN EFFECT FROM JUNE 20, 2016, THROUGH JULY 19, 2016. THE SUSPENSION IN ANY PRINCIPAL CAPACITY WAS IN EFFECT FROM JULY 20, 2016 THROUGH OCTOBER 19, 2016. Summary: THIS MATTER HAS BEEN SETTLED. THE FINE WAS PAID AND THE SUSPENSION WAS SERVED.