Business ProfileforSkylark Capital Management, LLC
Additional business information
May 16, 2019 The following describes a Settlement Order that has been formally brought by a government agency. The Department of Business Oversight and Manuel P. Alvarez (Commissioner of Business Oversight) alleges and charges as follows:
On January 2, 2019, the Commissioner notified CFL licensees of the March 15, 2019 deadline to file their annual reports by sending notice to the email address of each CFL licensee established pursuant to the Commissioner's Order on Electronic Communications, dated November 22, 2013. The notification admonished licensees that the Commissioner could assess penalties and summarily revoke CFL license(s) for untimely filing or failing to file.
On February 1 & March 5, 2019, the Commissioner again notified CFL licensees of the March 15, 2019 deadline to file their annual reports by sending notice to the email address each CFL licensee established pursuant to the Commissioner's Order on Electronic Communications, dated November 22, 2013. The notification again warned that the Commissioner could assess penalties and summarily revoke licenses for untimely filing or failing to file.
As of March 15, 2019, Respondent had not filed its Annual Report with the Commissioner. As a result, the Commissioner issued a notice on March 18, 2019 to Respondent to Respondent's email address established pursuant to the Commissioner's Order on Electronic Communications, dated November 22, 2013, advising Respondent that it should file its annual report by or before March 29, 2019 or else its license would be summarily revoked. As of March 29, 2019, Respondent had not filed its Annual Report with the Commissioner as directed in the Notice email. As a result, on April 3, 2019, the Commissioner issued an Order Summarily Revoking California Finance Lenders License 60DBO-90312. Upon receiving the Summary Revocation Order, Respondent timely notified the Commissioner that Respondent was requesting a hearing on the Summary Revocation Order.
On April 26, 2019, Respondent submitted its Annual Report, which was due on March 15, 2019, 29 business days late. The maximum penalty that may be imposed for filing 15 business days late is $12,500.00 ($100 per business day for the first five business days and $500 per business day thereafter up to a maximum of $25,000). In connection with these proceedings, Respondent represented to the Commissioner that it had taken no new applications under its license. The Commissioner finds that entering into this Settlement Agreement is in the public interest and consistent with the purposes fairly intended by the policies and provisions of the CFL.
To access the full Department of Business Oversight press release, please visit: http://www.dbo.ca.gov/ENF/pdf/2019/Skylark-Capital-Management-LLC-5-16-19.pdf
At-a-glance
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Business Details
- Location of This Business
- 8445 Santa Monica Blvd, West Hollywood, CA 90069-4491
- BBB File Opened:
- 6/10/2019
- Years in Business:
- 6
- Business Started:
- 10/26/2018
- Business Incorporated:
- 3/30/2018 in CA, USA
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
- Type of Entity:
- Limited Liability Company (LLC)
- Contact Information
Principal
- Jon Shapiro, Managing Partner
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