Bruderman Asset Management dinged $250K by SEC over disclosure lapses
By 
Jeff Dale2023-09-27T19:43:00
The Securities and Exchange Commission (SEC) ordered a New York-based investment adviser and its principal to pay a total of $250,000 over their alleged failure to disclose misuse of profits raised from clients.
Matthew Bruderman and his firm, Bruderman Asset Management, agreed to cease and desist from further violations and a censure in reaching settlement, the SEC announced in a press release Tuesday. The firm was also faulted for not implementing policies and procedures concerning disclosure of conflicts of interest.
The agency acknowledged remedial acts undertaken by the firm and Bruderman, including voluntarily repaying certain debts to clients totaling nearly $1.7 million.
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