The Securities and Exchange Commission has charged Park View School, a state-funded, nonprofit charter school operator based in Prescott Valley, Arizona, and its former president, Debra Kay Slagle, with misleading investors in an April 2016 municipal bond offering.
According to the SEC's complaint, Park View and Slagle made false and misleading statements about Park View's financial condition, and did not disclose that the school had experienced significant operating losses and repeatedly made unauthorized withdrawals from two reserve accounts to cover routine operating expenses.
According to the complaint, investors purchased $7.6 million in bonds in the 2016 offering. A year later, Park View reduced the interest payments that it made on the bonds.
Without admitting or denying the allegations in the complaint, Slagle and Park View agreed to settle with the SEC. Slagle also agreed to pay a $30,000 penalty and to be enjoined from participating in future municipal securities offerings.
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
