On 19 October, MA SD charged advisor for failure to disclose conflicts.
- Charged N. Moser and Moser Capital Management on fraud, dishonest conduct.
- Violated MA law, fiduciary duty, providing misleading information, and omission.
- Sought to cease and desist, withdraw IA registration, prohibit advisory services.
Allegations
- From 2015, Moser and his company have induced investors by false statements.
- Collected investments for two companies in which had personal financial interest.
- Medical device company and cybersecurity firm, for which he was representative.
- Did not disclose relationship, instead giving false information on both companies.
- Omitted material facts, lied and misled about them, and violated fiduciary duties.
- Also improperly assessed fees to a specific senior citizen's account violating duty.
Sanctions
- Withdrawal of IA registration, and prohibition on exempt reporting adviser status.
- Disgorge all proceeds, recision to all investors of fees, and an administrative fine.
