SEC v. Epic Capital Wealth Advisors, LLC (2024)

Judgment entered

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In November 2024 the SEC began proceedings on whether to deny the investment adviser registration application of Epic Capital Wealth Advisors, LLC, whose owner David M. Anthony had been enjoined by a Colorado court in 2023. After an initial decision that granted the application, a Commission remand, and a February 2026 amended decision, the application was denied, and the Commission declared that order final on April 1, 2026.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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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

The Securities and Exchange Commission instituted this proceeding on November 8, 2024 as file 3-22307 under Section 203(c)(2)(B) of the Advisers Act. The respondent is Epic Capital Wealth Advisors, LLC, a Utah company that applied on September 24, 2024 to register as an investment adviser (1 entity). David M. Anthony, its president, chief compliance officer and sole owner, is a related party, not a respondent; earlier versions of this record listed him as a defendant.

The order alleges that on April 17, 2023 a Colorado state court entered a final judgment against Anthony, his firm Anthony Capital and other entities enjoining them for ten years from offering securities, giving investment advice, managing accounts or acting as a broker-dealer or adviser. That judgment followed a 2022 complaint by the Colorado Securities Commissioner alleging that Anthony took in $26.5 million, sold unregistered securities without licences, commingled investor money and failed to disclose material facts. It did not involve Epic Capital. The SEC sets a hearing to decide whether Epic Capital's registration should be denied.

The proceeding is a follow-on to the Colorado judgment and does not allege a Section 5 violation, so this library applies no technique tag.

For the regulator's own account of the facts, read the primary document linked above.

Outcome. The SEC's file for proceeding 3-22307 lists the later steps. On August 8, 2025 the administrative law judge issued an initial decision that dismissed the proceeding and granted the registration. On November 21, 2025 the Commission, in its opinion on the Division of Enforcement's appeal, remanded because the judge had not made the findings the statute requires for a grant, noting that without them the application must be denied. On February 11, 2026 the chief administrative law judge issued an initial decision on remand denying the application, reasoning that Epic Capital had no assets under management and no reasonable expectation of reaching $100 million within 120 days, so it is barred from federal registration and stays under state regulation, and that the application had inaccuracies. No petition for review was filed, and on April 1, 2026 the Commission gave notice that the decision had become final. The denial rests on the size and registration rules; the decision does not find that Epic Capital committed any fraud, and no penalty or money was ordered.

Timeline

1. 2024-11-08 Administrative proceeding instituted (administrative)
2. 2025-08-08 Initial decision grants Epic Capital registration (Initial Decision Release No. 1417)
3. 2025-11-21 Commission opinion remands the proceeding (IA-6926)
4. 2026-02-11 Initial decision on remand denies the application (Initial Decision Release No. 1418)
5. 2026-04-01 Commission notice that the initial decision on remand became final (34-105135)

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
• Commission opinion, Release No. IA-6926
• Initial decision on remand, Release No. 1418
• Notice that the decision became final, Release No. 34-105135

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.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Record added September 10, 2026. submit a correction.