Investment Advisory Services
Kiso Capital, LPFind BBB Accredited Businesses in Investment Advisory Services.
Information and Alerts
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Government Actions
Gov. Action
December 27, 2022 The following describes a Consent Order that has been formally brought by a government agency. The Department of Financial Protection and Innovation alleges, and charges as follows:
Under California Code of Regulations, Title 10, Section 1422.4 (Regulation 1422.4),
which went into effect on October 1, 2021, all CFL licensees were required to transition to the Nationwide Multistate Licensing System and Registry (NMLS) by December 31, 2021. On December 16, 2021, Complainant extended the deadline to transition to NMLS to March 15, 2022. On March 7, 2022, Complainant again extended the deadline to transition to NMLS to March 31, 2022.
Complainant provided notice of this requirement to Respondent - via email to the
Designated Email Address of each CFL licensee on July 20, 2021, September 16, 2021, October 14, 2021, November 8, 2021, and December 16, 2021. Complainant also provided notice via email to each CFL licensee that had not yet transitioned to NMLS, including Respondent, on March 7, 2022, and again via email and mail on March 28, 2022. Complainant provided further notice of this requirement over the telephone - Complainant made at least two calls to the designated telephone number provided by each CFL licensee, including Respondent - between February 1 and March 15, 2022.
Complainant determined that Respondent was in violation of Regulation 1422.4 and
had not transitioned management of its CFL license to NMLS as of July 29, 2022. Accordingly, Complainant issued a Citation on that date pursuant to Financial Code section 22707.5, subdivision (a). The Citation included an order to correct the violation and an order to pay an administrative fine in the amount of $2,500.00 to the Commissioner by September 27, 2022.
Complainant served the Citation on Respondent via certified mail on July 29, 2022 and by electronic mail at Respondent's Designated Email Address on July 29, 2022. To date, Respondent has neither complied with the order to correct the violation by transitioning its license to NMLS nor paid the administrative fine.
To access the full Department of Financial Protection and Innovation press release, please visit: https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/12/Consent-Order-Kiso-Capital-LP.pdf?emrc=5bfcfe
Important Information
Government Actions
On April 12, 2024, the Commissioner issued the following actions and orders (collectively, Orders): (1) Accusation in Support of Order Suspending Damon Doe for a Period of 12 months from any Position of Employment, Management or Control of any Investment Adviser, Broker-Dealer or Commodity Adviser; (2) Desist and Refrain Order and Claim for Ancillary Relief; and (3) Notice of Intent to Issue Order Leving Administrative Penalties and Statement in Support.
KCM and Doe timely requested a hearing to challenge the Orders and a hearing is currently set to be held at the Office of Administrative Hearings on November 12 and 13, 2024. The Commissioner, KCM, and Doe now intend to resolve this matter amicably without the necessity of a hearing or other litigation.
KCM, by entering into this Agreement, neither admits nor denies the Commissioner’s findings as stated in the Department’s Order. Doe, by entering into this Agreement, neither admits nor denies the Commissioner's findings in the Orders.
KCM and Doe agree to pay to the Commissioner disgorgement in the amount of ninety six thousand five hundred and thirty five dollars ($96,535.00) (Disgorgement) as follows: one (1) payment of twenty four thousand five hundred and thirty five dollars ($24,535.00) shall be made on or before December 31, 2024; and four (4) equal payments eighteen thousand dollars ($18,000.00) shall be made on or before the following dates, February 28, 2025, May 31, 2025, August 31, 2025, and November 30, 2025.
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