Blakely Chapman Page of Bryn Mawr, Pennsylvania, a stockbroker registered with Spouting Rock Capital Advisors LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for six months based upon allegations that Page made misrepresentations in connection with the recommendation of a hedge fund. FINRA Enfocement (AWC) No. 2019062612901 (May 20, 2022).
According to the AWC, from October 2017 through October 2018, during the time that he was associated with Spouting Rock Capital Advisors LLC, Page made negligent misrepresentations concerning the performance of an investment fund to potential investors. Specifically, Page distributed marketing materials for a hedge fund he formed to over 24 potential investors. The marketing material included performance numbers that substantially overstated the historical rate of return.
Page also exchanged emails with several potential investors where he confirmed the accuracy of the performance numbers in the marketing materials. Page confirmed the number’s accuracy despite receiving information that called the accuracy of the numbers into question. As a result, Page violated FINRA Rule 2010.
Blakely Page was associated with Spouting Rock Capital Advisors LLC in Bryn Mawr, PA, as a stockbroker from May 30, 2007 to December 23, 2021.
