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Securities and Exchange Commission v. Pinnacle Advisors, LLC et al

  1. July 11, 2025

    SEC Quietly Drops First-Ever Liquidity Rule Suit

    The U.S. Securities and Exchange Commission on Friday agreed to dismiss its first-ever case accusing an investment adviser of violating a rule that limits the amount of illiquid investments a mutual fund can hold.

  2. April 29, 2025

    Adviser Renews Bid To Toss SEC Suit Over Liquidity Rule

    Pinnacle Advisors LLC has again urged a New York federal judge to toss a U.S. Securities and Exchange Commission suit accusing the wealth management firm of exceeding its allowed allotment of illiquid investments, standing by its arguments that the so-called liquidity rule was wrongly promulgated.

  3. March 27, 2025

    SEC Liquidity Rule Suit Can't Be Axed Just Yet, Judge Says

    A New York federal judge on Thursday refused to toss the U.S. Securities and Exchange Commission's suit alleging that Pinnacle Advisors LLC exceeded its allowed allotment of illiquid investments, as the intervening Loper Bright ruling has changed the standard for evaluating agency action since the dismissal bid was filed.

  4. August 25, 2023

    SEC Pushes Back On Adviser's Bid To Duck Liquidity Suit

    The U.S. Securities and Exchange Commission on Friday urged a New York federal court not to toss its suit accusing Pinnacle Advisors LLC of exceeding its allowed allotment of illiquid investments, saying that "even a cursory read" of its liquidity rule put the investment adviser on notice about compliance with the regulation.

  5. July 12, 2023

    Adviser Attacks SEC's Liquidity Rule In Bid To Escape Suit

    A New York-based investment adviser facing the first-ever U.S. Securities and Exchange Commission lawsuit over a 2016 liquidity rule says the case against it should be tossed because the agency had no congressional authority to write the rule in the first place.

  6. May 05, 2023

    SEC Brings First-Ever 'Liquidity Rule' Suit Against Adviser

    The U.S. Securities and Exchange Commission filed suit on Friday against investment adviser Pinnacle Advisors LLC, two of its officers and two independent trustees of a mutual fund it advised for allegedly aiding and abetting violations of the liquidity rule, which directs how funds manage and oversee their liquidity risks.