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Important information

• Government Actions:

  Government Action: BBB reports on known government actions involving business’ marketplace conduct:

  The Securities and Exchange Commission v Beta Wealth Group Inc
  The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
  
  
  
  On September 9, 2024, Beta Wealth Group Inc entered into an Order Instituting Administrative and Cease and Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and Cease and Desist Order with The Securities and Exchange Commission. The Order settles allegations that the business advertised a 3rd party rating that did not clearly and prominently disclose the date on which the rating was given and the period of time upon which the rating was based, advertised as a “Barron’s Top Advisor” without disclosing the date the third-party rating was given or the time period upon which it was based, and advertised the business’ principal “had been named one of the top wealth managers by the readers of San Diego Magazine for 14 consecutive years” without being able to substantiate that material statement of fact. Under the terms of the order the business was ordered to cease and desist from committing or causing any violations or future violations of the Advertisers Act and Rule, is censured, to review the advertisements to ensure compliance with the Marketing Rule within 45 days of the order and notify commission in writing of the compliance within 50 days of the order, and pay a civil penalty of $80,000. The Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law.
  
  
  
  This action is final.

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