SEC v. Cambria Capital, LLC (2023)

Settled

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In 2023 the SEC settled an administrative order against Cambria Capital, LLC for failing to file suspicious activity reports on microcap liquidations by its customers, with a $100,000 civil penalty.

The record

What was ordered

Civil penalty

$100k

Disgorgement

—

Prejudgment interest

—

Total relief

$100k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

On March 2, 2023 the SEC accepted a settlement with Cambria Capital, LLC, a dually registered broker-dealer and investment adviser that specialised in helping customers liquidate microcap stock. The order finds that from March 2017 to May 2019 Cambria ignored red flags listed in its own anti-money-laundering procedures, such as deposits of physical certificates followed by quick sales and wire-outs, and did not file the suspicious activity reports required of it. It imposes a censure and a $100,000 penalty.

The phrase 'unregistered distribution' appears only in Cambria's own policy list of red flags. The order finds a reporting failure, not that Cambria sold unregistered securities.

This library does not assign a technique tag to the matter, because no technique page in the current taxonomy describes the conduct the document records.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

Timeline

1. 2023-03-02 Administrative proceeding instituted (cease-and-desist)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.