{"id":11408,"date":"2024-07-08T15:56:56","date_gmt":"2024-07-08T19:56:56","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11408"},"modified":"2024-07-08T15:56:56","modified_gmt":"2024-07-08T19:56:56","slug":"scott-silver-comments-on-sec-decision-on-lufkin-advisors","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/scott-silver-comments-on-sec-decision-on-lufkin-advisors\/","title":{"rendered":"Scott Silver Comments On SEC Decision On Lufkin Advisors"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10205 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall.jpg\" alt=\"Silver Law Group\u2019s managing partner Scott Silver was interviewed by Investment News for a news article about the SEC revoking the license of Lufkin Advisors of San Mateo, California. The license was revoked after its president and chief compliance officer, Chauncey Forbush Lufkin, III, was charged with fraudulent contact related to crypto assets and private funds.\n\n\u201cNobody knows what\u2019s happening internally in these pooled funds at the retail level. How are these firms really managing these types of funds? It\u2019s a recipe for disaster,\u201d Scott said.\n\nLufkin Advisors managed $115.8 million in client assets and operated three pooled investment vehicles, as reported in their latest Form ADV.\u00a0These pooled funds, which combine capital from multiple investors, have raised concerns among some financial professionals regarding their suitability for retail investors.\u00a0The primary issue stems from the potential difficulty in tracking and accounting for individual contributions within these collective investment structures.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Silver Law Group\u2019s managing partner Scott Silver was interviewed by <em>Investment News<\/em> for a news article about the SEC revoking the license of Lufkin Advisors of San Mateo, California. The license was revoked after its president and chief compliance officer, Chauncey Forbush Lufkin, III, <a href=\"https:\/\/www.sec.gov\/files\/litigation\/admin\/2024\/ia-6635.pdf\" target=\"_blank\">was charged with fraudulent contact related to crypto assets and private funds.<\/a><\/p>\n<p>\u201c<em>Nobody knows what\u2019s happening internally in these pooled funds at the retail level. How are these firms really managing these types of funds? It\u2019s a recipe for disaster,\u201d <\/em>Scott said. <a href=\"https:\/\/www.silverlaw.com\/blog\/scott-silver-comments-on-sec-decision-on-lufkin-advisors\/#more-11408\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Silver Law Group\u2019s managing partner Scott Silver was interviewed by Investment News for a news article about the SEC revoking the license of Lufkin Advisors of San Mateo, California. The license was revoked after its president and chief compliance officer, Chauncey Forbush Lufkin, III, was charged with fraudulent contact related to crypto assets and private [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[583],"tags":[],"class_list":["post-11408","post","type-post","status-publish","format-standard","hentry","category-sec-actions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Scott Silver Comments On SEC Decision On Lufkin Advisors &#8212; Securities Arbitration Lawyers Blog &#8212;<\/title>\n<meta name=\"description\" content=\"Scott Silver was interviewed by Investment News for a news article about the SEC revoking the license of Lufkin Advisors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/scott-silver-comments-on-sec-decision-on-lufkin-advisors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Scott Silver Comments On SEC Decision On Lufkin Advisors &#8212; 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