Madison also noted that Advisory Clients that are not eligible for the Audited Pool Exception receive account statements from the qualified custodian with whom such Advisory Clients' funds and securities are custodied, and that these statements provide those Advisory Clients with the relevant information needed to monitor their assets.
We obtained a line of credit and slowly but surely attracted advisory clients.
As a result, assets of Advisory Clients and Third Parties are commingled in the Agency Account.
According to the incoming letter (the "Incoming Letter"), Madison provides advisory services to private investment funds and separately managed accounts ("Advisory Clients").
a regional director failed reasonably to supervise an employee who misappropriated approximately $309,000 in financial planning fees from at least 47 advisory clients.
"For far too long, in the investment advisory area, the commission has been unable to perform its responsibilities adequately to fulfill its mission as the investor's advocate, and investment advisory clients have not been adequately protected.
For a majority of the senior loans that Madison provides, it organizes a loan syndicate (a "Loan Syndicate") and serves as the administrative agent to the Loan Syndicate Participants in a Loan Syndicate ("Loan Syndicate Participants") may include Advisory Clients, as well as other individuals and/or entities that are not Advisory Clients ("Third Parties").
He spends about two days a week at Gleacher, offering "his expertise in financing strategies" to the firm's debt advisory clients, the company said on its Web site.
"Even before today's settlement, we voluntarily strengthened our policies regarding information barriers to ensure that proxies will continue to be cast in the best interests of our advisory clients," a Deutsche Bank spokeswoman, Missy DeAngelis, said.
The Commission brought a settled administrative proceeding against the owner/chief compliance officer of an investment adviser that had pooled investment vehicles as clients and that had custody over funds and securities of its advisory clients.
