Dakota Wealth, Llc

Allegations: PRIOR TO HER TIME AT DAKOTA, MARILYN RIOS (FORMERLY MARILYN GENERY) WAS A REGISTERED REPRESENTATIVE OF A BROKER-DEALER, LINSCO PRIVATE LEDGER (LPL). A CLAIM AROSE IN 2017 REGARDING AN ALLEGED VIOLATION OF THE COMPANY'S DOCUMENT SIGNATURE POLICY WHILE MS. RIOS WAS WITH LPL. FINRA INVESTIGATED THE MATTER AND ONLY ISSUED A CAUTIONARY ACTION IN OCTOBER 2017, WHICH IS SOMETHING NOT REQUIRED TO BE REPORTED ON U-4 FORMS. NO DISCIPLINARY ACTION WAS TAKEN BY FINRA AGAINST MS. RIOS. THE STATE OF NEW HAMPSHIRE'S DEPARTMENT OF STATE BUREAU OF SECURITIES REGULATION INVESTIGATED REGARDING THE ALLEGATIONS OF THE GENUINENESS AND AUTHORIZATION OF SIGNATURES ON CLIENT FORMS. MS. RIOS JOINED DAKOTA IN MAY 2018, WHILE IN THE MIDST OF NEW HAMPSHIRE'S INVESTIGATION. ON FEBRUARY 9, 2019, THE STATE OF NEW HAMPSHIRE AND MS. RIOS SETTLED THE MATTER AND ENTERED INTO A CONSENT ORDER, IN WHICH MS. RIOS NEITHER ADMITTED NOR DENIED THE ALLEGATIONS BROUGHT AGAINST HER. PURSUANT TO THE CONSENT ORDER, MS. RIOS (A) TIMELY PAID THE AGREED UPON FINE, (B) AGREED TO A STANDARD CEASE AND DESIST ORDER AND (C) COMPLIED WITH EIGHTEEN MONTHS OF HEIGHTENED SUPERVISION FROM A PARTNER AT DAKOTA. AS OF AUGUST 27, 2020, THIS MATTER IS CLOSED. Status: Final Sanction Detail: PENALTIES/FINES IN THE AMOUNT OF $52,500.00 LEVIED AGAINST THE ADVISORY AFFILIATE, MARILYN RIOS AKA MARILYN GENERY (FOR INVESTMENT-RELATED ACTIVITIES PERFORMED PRIOR TO HER EMPLOYMENT WITH DAKOTA WEALTH, LLC) WERE PAID IN FULL ON 02/11/2019 BY MARILYN RIOS AKA MARILYN GENERY, WITH NO PORTION WAIVED. NO PORTION OF THIS FINE WAS LEVIED AGAINST, OR PAID BY, DAKOTA WEALTH, LLC. Summary: CONSENT ORDER ENTERED INTO WITH THE STATE OF NEW HAMPSHIRE ORDERING MARILYN RIOS AKA MARILYN GENERY TO PAY $52,500.00 IN PENALTIES/FINES, CEASE AND DESIST FROM FURTHER VIOLATIONS OF RSA 421-B AND UNDERGO 18 MONTHS HEIGHTENED SUPERVISION WITH RESTRICTIONS.