On August 16, Michigan’s Corporations, Securities & Commercial Licensing Bureau (CSCL) issued orders summarily suspending the investment adviser registration of Research Money Management, LLC and Jason K. Bescoe, both of Grand Blanc, Michigan.
According to a CSCL news release, Bescoe and his firm failed to submit required reports under a conditional registration agreement they entered with CSCL in April 2016.
The conditional registration agreement was due to Bescoe’s disciplinary history, which included conducting business as an investment adviser representative without being registered.
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“The Michigan Uniform Securities Act allows CSCL to issue conditional registrations that require additional reporting by an investment adviser,” said CSCL Director Julia Dale in the news release. “Mr. Bescoe and his firm have failed to comply with the conditions of the registration, so the suspensions became necessary.”
CSCL agreed to issue a registration to Mr. Bescoe in April 2016 when he and the firm agreed to a number of conditions, including required quarterly reporting to CSCL by a third-party compliance specialist.
The conditional registration also allowed for an immediate suspension if Bescoe or the firm failed to comply with the conditions. Bescoe, the firm, and the compliance specialist failed to file required reports, prompting CSCL to summarily suspend Bescoe’s and Research Money Management, LLC’s registrations.
Read more information about Bescoe and his case at these links: here, here—and here.
According to a CSCL news release, Bescoe and his firm failed to submit required reports under a conditional registration agreement they entered with CSCL in April 2016.
The conditional registration agreement was due to Bescoe’s disciplinary history, which included conducting business as an investment adviser representative without being registered.
“The Michigan Uniform Securities Act allows CSCL to issue conditional registrations that require additional reporting by an investment adviser,” said CSCL Director Julia Dale in the news release. “Mr. Bescoe and his firm have failed to comply with the conditions of the registration, so the suspensions became necessary.”
CSCL agreed to issue a registration to Mr. Bescoe in April 2016 when he and the firm agreed to a number of conditions, including required quarterly reporting to CSCL by a third-party compliance specialist.
The conditional registration also allowed for an immediate suspension if Bescoe or the firm failed to comply with the conditions. Bescoe, the firm, and the compliance specialist failed to file required reports, prompting CSCL to summarily suspend Bescoe’s and Research Money Management, LLC’s registrations.
Read more information about Bescoe and his case at these links: here, here—and here.