Investment Adviser Stuck With SEC Lifetime Bar, Fines

An investment adviser is stuck with a lifetime bar from the securities industry and over $650,000 in SEC fines and disgorgement after a federal appeals court declined to review his case.

There was substantial evidence to support the Securities and Exchange Commission’s case against investment adviser Timothy S. Dembski, according to the U.S. Court of Appeals for the Second Circuit’s Feb. 27 summary order. Federal courts typically affirm SEC findings of fact so long as the findings are supported by substantial evidence.

The SEC previously barred Dembski for life from the securities industry for misleading investors about his hedge ...