SEC Issues Administrative Proceeding on Bob Brakeman Enterprises

The Securities and Exchange Commission issued the following administrative proceeding (File No. 3-17803) involving Bob Brakeman Enterprises: I. The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative and cease-and-des...

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Bibliographic Details
Published inTargeted News Service
Format Newsletter
LanguageEnglish
Published Washington, D.C Targeted News Service 19.01.2017
Subjects
Bankruptcy
Investment Advisers Act 1940-US
Investment advisors
SEC regulations
Delta Township Michigan
WASHINGTON
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Summary:The Securities and Exchange Commission issued the following administrative proceeding (File No. 3-17803) involving Bob Brakeman Enterprises: I. The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant to Sections 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940 ("Advisers Act") and Section 9(b) of the Investment Company Act of 1940 ("Investment Company Act") against Bob Brakeman Enterprises, LLC ("BBE") and Robert D. Brakeman ("Brakeman," and together with BBE, "Respondents"). Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission's jurisdiction over them and the subject matter of these proceedings, which are admitted, Respondents consent to the entry of this Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940 and Section 9(b) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order ("Order"), as set forth below. From at least June 2008 through 2015, BBE was registered with the Commission as an investment adviser solely on the basis that it claimed its principal office and place of business was in Wyoming,1 when in fact Brakeman, the sole officer of BBE, directed, coordinated, and controlled BBE's activities from outside Wyoming-primarily from his home in Michigan...