SEC Enforcement Action: Noonan Capital Management, LLC and Timothy George Noonan

The SEC found that Noonan Capital misappropriated client assets by charging excessive advisory fees in the amount of $183,908, which amounts to almost double what should have been charged. Additionally, Noonan Capital misrepresented its AUM and failed to withdraw its registration from the SEC. Noonan also violated the Advisers Act by failing to maintain proper books and records, and failing to furnish investors with the proper information required by Part 2 of form ADV.

View letter in full here (links externally to SEC website).