Antonelli Financial Advisors, Llc

Allegations: ANTONELLI FINANCIAL ADVISORS, LLC, IN ITS CAPACITY AS AN INVESTMENT ADVISER, EMPLOYED OR ASSOCIATED WITH AN UNREGISTERED INVESTMENT ADVISER REPRESENTATIVE, SUZANNE ANTONELLI FROM FEBRUARY 2017 UNTIL JUNE 2018, IN VIOLATION OF SECTION 403(4) OF THE SECURITIES ACT, MCL 451.2403(4). Status: Final Sanction Detail: THE CORPORATIONS, SECURITIES & COMMERCIAL LICENSING BUREAU OF THE STATE OF MICHIGAN IMPOSED A CIVIL FINE OF $10,000.00 AGAINST MS. ANTONELLI AS AN INDIVIDUAL AND $10,000.00 AGAINST ANTONTELLI FINANCIAL ADVISORS AS A FIRM. NO PORTION OF THE PENALTY WAS WAIVED. THE TOTAL FINES OF $20,000.00 WAS PAID BY ANTONELLI FINANCIAL ADVISORS ON MAY 29, 2019. Summary: IN JUNE 2018, IN RESPONSE TO A ROUTINE EXAM BY STATE OF MICHIGAN, DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS, CORPORATIONS, SECURITIES AND COMMERCIAL LICENSING BUREAU (THE "BUREAU"), MS. ANTONELLI WAS ASKED WHY ANTONELLI FINANCIAL ADVISORS, LLC, AN INVESTMENT ADVISER REGISTERED WITH THE BUREAU, HAD NOT REGISTERED SUZANNE ANTONELLI AS AN INVESTMENT ADVISER REPRESENTATIVE OF ANTONELLI FINANCIAL ADVISORS, LLC, IN FEBRUARY 2017, AT THE TIME THE FIRM REGISTERED WITH THE BUREAU, IN COMPLIANCE WITH THE SECURITIES ACT IN MICHIGAN. UPON BECOMING AWARE OF THIS MISTAKE ON JUNE 14, 2018, ANTONELLI FINANCIAL ADVISORS PROMPTLY SUBMITTED THE RELEVANT INVESTMENT ADVISER REPRESENTATIVE REGISTRATION APPLICATION MATERIALS ON BEHALF OF MS. ANTONELLI WHICH THE BUREAU APPROVED ON JUNE 16, 2018. ON APRIL 10, 2019, THE BUREAU ISSUED SEPARATE CEASE AND DESIST ORDERS TO ANTONELLI FINANCIAL ADVISORS, LLC AND MS. ANTONELLI. THE ORDER WITH RESPECT TO MS. ANTONELLI WAS LIMITED TO THE FAILURE OF ANTONELLI FINANCIAL ADVISORS TO REGISTER HER AS AN INVESTMENT ADVISER REPRESENTATIVE IN THE STATE OF MICHIGAN. THE ORDER WITH RESPECT TO ANTONELLI FINANCIAL ADVISORS INVOLVED MS. ANTONELLI'S LACK OF REGISTRATION AS AN INVESTMENT ADVISER REPRESENTATIVE. AS A RESULT OF MS. ANTONELLI'S OVERSIGHT, THE BUREAU IMPOSED A CIVIL FINE OF $10,000.00 AGAINST MS. ANTONELLI AS AN INDIVIDUAL AND $10,000.00 AGAINST ANTONELLI FINANCIAL ADVISORS AS A FIRM. ANTONELLI FINANCIAL ADVISORS HAD PAID BOTH OF THESE FINES ON MAY 29, 2019.