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SEC fines Momentum Advisors, two officers $500,000+ over fiduciary breaches

SEC building
Photo: krblokhin/Getty Images

Momentum Advisors LLC, along with its former COO and CCO, were charged with violations related to the misuse of portfolio company assets.

The SEC announced that it has settled charges against New York registered investment advisor Momentum Advisors LLC, its former Chief Compliance Officer, Allan J Boomer, and its former Chief Operating Officer, Tiffany Hawkins.

Hawkins was accused of paying herself from the portfolio companies of a Momentum-advised fund she and Boomer