Canterbury Consulting Incorporated

Allegations: CANTERBURY WAS NAMED IN AN ADMINISTRATIVE PROCEEDING BY THE SEC ALLEGING THAT FROM JANUARY 2013 THROUGH NOVEMBER 2014, CANTERBURY DID NOT PROVIDE SUFFICIENT SUPERVISION OF A FORMER MINORITY OWNER INVOLVING PREFERENTIAL TRADE ALLOCATIONS AND DID NOT ADOPT AND IMPLEMENT SPECIFIC WRITTEN POLICIES AND PROCEDURES DESIGNED TO PREVENT SUCH TRADING ACTIVITY. ADDITIONALLY, CANTERBURY DID NOT MAINTAIN ANY RECORD OF THE CLIENTS OR PROSPECTIVE CLIENTS TO WHOM IT OFFERED OR DELIVERED ITS FORM ADV PART 2 AS FILED WITH THE SEC ON MARCH 28, 2013. Status: Final Sanction Detail: CANTERBURY WAS NAMED IN AN ADMINISTRATIVE PROCEEDING BY THE SEC ALLEGING THAT FROM JANUARY 2013 THROUGH NOVEMBER 2014, CANTERBURY DID NOT PROVIDE SUFFICIENT SUPERVISION OF A FORMER MINORITY OWNER INVOLVING PREFERENTIAL TRADE ALLOCATIONS AND DID NOT ADOPT AND IMPLEMENT SPECIFIC WRITTEN POLICIES AND PROCEDURES DESIGNED TO PREVENT SUCH TRADING ACTIVITY. ADDITIONALLY, CANTERBURY DID NOT MAINTAIN ANY RECORD OF THE CLIENTS OR PROSPECTIVE CLIENTS TO WHOM IT OFFERED OR DELIVERED ITS FORM ADV PART 2 AS FILED WITH THE SEC ON MARCH 28, 2013. THE PRACTICE OF BLOCK TRADING IN ALLOCATION ACCOUNTS, WHICH WAS USED SOLELY BY A FORMER MEMBER AND AFFECTED ONLY A LIMITED NUMBER ADVISORY CLIENTS ASSIGNED TO THAT MEMBER, WAS NOT PART OF CANTERBURY'S CORE CONSULTING SERVICES AND ULTIMATELY DISCONTINUED. AS PART OF THE UNDERTAKING AND RESOLUTION OF THIS MATTER, CANTERBURY SIGNED AN OFFER OF SETTLEMENT AND AGREED TO PROVIDE A NOTICE TO ALL AFFECTED ADVISORY CLIENTS REGARDING THE ORDER, PAY A CIVIL MONETARY PENALTY IN THE AMOUNT OF $100,000, DISGORGEMENT OF $66,071, PREJUDGMENT INTEREST OF $6,915 AND PROVIDE CERTIFICATION OF COMPLIANCE IN THE ABOVE MATTER. IN ADDITION, CANTERBURY PAID $207,102, ON A VOLUNTARY BASIS, TO AFFECTED CLIENTS TO REMEDIATE THE HARM BY THE FORMER EMPLOYEE. Summary: CANTERBURY WAS NAMED IN AN ADMINISTRATIVE PROCEEDING BY THE SEC ALLEGING THAT FROM JANUARY 2013 THROUGH NOVEMBER 2014, CANTERBURY DID NOT PROVIDE SUFFICIENT SUPERVISION OF A FORMER MINORITY OWNER INVOLVING PREFERENTIAL TRADE ALLOCATIONS AND DID NOT ADOPT AND IMPLEMENT SPECIFIC WRITTEN POLICIES AND PROCEDURES DESIGNED TO PREVENT SUCH TRADING ACTIVITY. ADDITIONALLY, CANTERBURY DID NOT MAINTAIN ANY RECORD OF THE CLIENTS OR PROSPECTIVE CLIENTS TO WHOM IT OFFERED OR DELIVERED ITS FORM ADV PART 2 AS FILED WITH THE SEC ON MARCH 28, 2013. THE PRACTICE OF BLOCK TRADING IN ALLOCATION ACCOUNTS, WHICH WAS USED SOLELY BY A FORMER MEMBER AND AFFECTED ONLY A LIMITED NUMBER ADVISORY CLIENTS ASSIGNED TO THAT MEMBER, WAS NOT PART OF CANTERBURY'S CORE CONSULTING SERVICES AND ULTIMATELY DISCONTINUED. AS PART OF THE UNDERTAKING AND RESOLUTION OF THIS MATTER, CANTERBURY SIGNED AN OFFER OF SETTLEMENT AND AGREED TO PROVIDE A NOTICE TO ALL AFFECTED ADVISORY CLIENTS REGARDING THE ORDER, PAY A CIVIL MONETARY PENALTY IN THE AMOUNT OF $100,000, DISGORGEMENT OF $66,071, PREJUDGMENT INTEREST OF $6,915 AND PROVIDE CERTIFICATION OF COMPLIANCE IN THE ABOVE MATTER. IN ADDITION, CANTERBURY PAID $207,102, ON A VOLUNTARY BASIS, TO AFFECTED CLIENTS TO REMEDIATE THE HARM BY THE FORMER EMPLOYEE.