Brenda A. Smith, Bristol Advisors


May 16, 2024

Type of alert:


The Securities and Exchange Commission (SEC) has commenced administrative proceedings against Brenda A. Smith (“Smith”) pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940. Smith, associated with and the owner of Bristol Advisors, LLC, a registered investment adviser, stands accused of a litany of violations, including misusing and misappropriating investor funds, making false representations to investors, and engaging in fraudulent conduct concerning the Broad Reach Fund, a purported hedge fund. Notably, Smith has also pled guilty to securities fraud charges in a criminal case. As part of the settlement, Smith has agreed to sanctions, including being barred from association with any broker, dealer, or investment adviser, and from participating in any penny stock offerings. This enforcement action underscores the SEC’s commitment to upholding integrity and transparency in the securities market.

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