The Securities and Exchange Commission (SEC) recently barred Dawn J. Bennett of the Bennett Group, from the securities industry. The SEC alleged that Bennett exaggerated her firm’s investment performance. She was also ordered to pay $600,000 and the firm was ordered to pay $2.9 million. It was found that Ms. Bennett inflated assets and used these to qualify for the Barron’s list of top advisers. She then used the ranking to solicit new clients. Bennett stated that her company managed between $1.1 billion and $2 billion in assets, when, in reality, the firm never managed more than $407 million in assets during the time period. The judge ruled that Ms. Bennett was not fit to remain in the industry in any capacity.
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