SEC
Whistleblower
Attorneys

December 21, 2018

American Portfolios Advisers Inc., PPS Advisors Inc., Lawrence Nicholas Passaretti

Trading and Pricing

SANCTION AMOUNT: $1852099

Defendants: American Portfolios Advisers Inc., PPS Advisors Inc.
Lawrence Nicholas Passaretti

Two New York-based investment advisers and the CEO/Chief Investment Officer of one of them (PPS) settled charges that they selected mutual fund share classes inconsistent with disclosures to clients, including instances in which they had conflicts of interest.

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