Business ProfileforPMB Advisors
Additional business information
On May 24, 2021, PMB Advisors and owner Patrick Michael Beresh (Respondents) entered into a consent order (CRD: 137495, 3113695) with The Commissioner of Financial Protection and Innovation (Commissioner).
The consent order stems from the Department of Financial Protection and Innovation’s finding after an examination done in August 2019, that the respondents engaged in preferential allocation of investment opportunities causing a conflict of interest with their fiduciary duty. The action deemed as an unsafe business practice under Corporations Code section 25250 and does not promote fair, equitable and ethical principals in violation of Corporations Code section 25238.
As part of the consent order, PMB Advisors and Patrick Michael Beresh was ordered to desist and refrain from being in violation of the above mentioned Corporations codes, ordered to pay a penalty in the amount of $10,000.0 and to refund $8,850.00 to the 46 client accountants that were excluded from receiving the profits due to the respondents actions.
On May 24, 2021, PMB Advisors and owner Patrick Michael Beresh (Respondents) entered into a consent order (CRD: 137495, 3113695) with The Commissioner of Financial Protection and Innovation (Commissioner).
The consent order stems from the Department of Financial Protection and Innovation’s finding after an examination done in August 2019, that the respondents engaged in preferential allocation of investment opportunities causing a conflict of interest with their fiduciary duty. The action deemed as an unsafe business practice under Corporations Code section 25250 and does not promote fair, equitable and ethical principals in violation of Corporations Code section 25238.
As part of the consent order, PMB Advisors and Patrick Michael Beresh was ordered to desist and refrain from being in violation of the above mentioned Corporations codes, ordered to pay a penalty in the amount of $10,000.0 and to refund $8,850.00 to the 46 client accountants that were excluded from receiving the profits due to the respondents actions.
At-a-glance
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Business Details
- Location of This Business
- 101 Larkspur Landing Circle, Larkspur, CA 94939
- BBB File Opened:
- 5/25/2021
- Number of Employees:
- 1
Customer Complaints
0 Customer Complaints
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