Preston Wealth Advisors, Llc.

Allegations: VIOLATION OF 21 VAC 5-80-160A (19) OF THE COMMISSION'S RULES REGARDING INVESTMENT ADVISERS REQUIRING SUPERVISION OF EMPLOYEES AND INVESTMENT ADVISER REPRESENTATIVES. Status: Final Sanction Detail: WITHOUT ADMITTING OR DENYING ANY VIOLATION OR WRONGDOING, THE FIRM CONSENTED TO A MONETARY PENALTY IN THE AMOUNT OF $8,000 AND AGREED TO PAY $2,000 IN INVESTIGATIVE COSTS, PURSUANT TO AN ORDER DATED SEPTEMBER 21, 2016. PAYMENT OF $5,000 WAS DUE ON ENTRY OF THE SETTLEMENT ORDER. PAYMENT OF $2,500 IS DUE 60 DAYS FOLLOWING ENTRY OF THE ORDER; A FINAL PAYMENT OF $2,500 IS DUE 120 DAYS FOLLOWING ENTRY OF THE ORDER. Summary: THE COMMISSION ALLEGED VIOLATION OF A RULE REQUIRING INVESTMENT ADVISERS TO MAINTAIN "WRITTEN PROCEDURES TO SUPERVISE THE ACTIVITIES OF EMPLOYEES AND INVESTMENT ADVISER REPRESENTATIVES THAT ARE REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS AND REGULATIONS." TO AVOID THE EXPENSE OF LITIGATING THAT ISSUE (AND WITH NO ADMISSION OF THE VIOLATION), THE FIRM AGREED TO RESOLVE THE ISSUE, PAY A MODEST FINE, AND UNDERTAKE NOT TO VIOLATE THE VIRGINIA SECURITIES ACT IN THE FUTURE.

Allegations: ENGAGING IN INVESTMENT ADVISORY BUSINESS WITHIN THE STATE OF FLORIDA WITHOUT REGISTRATION IN VIOLATION OF SECTION 517.12(4), FLORIDA STATUTES Status: Final Sanction Detail: THE FIRM WAS FINED $6000 AND THE COMPANY PRINCIPALS THEODORE J. DOREMUS AND GREGORY D. MATTINGLY WERE EACH INDIVIDUALLY FINED $6000 Summary: THE FLORIDA OFR ALLEGED A CONTESTED TECHNICAL VIOLATION OF FLORIDA INVESTMENT ADVISOR REGISTRATION REQUIREMENTS. TO AVOID THE EXPENSE ASSOCIATED WITH LITIGATING THAT ISSUE (AND WITH NO ADMISSION OF A VIOLATION), THE FIRM AND INDIVIDUALS AGREED TO RESOLVE THE ISSUE, PAY A MODEST FINE AND, IN RETURN, RECEIVED THE REQUESTED FLORIDA INVESTMENT ADVISORY REGISTRATIONS.