Foundation Asset Management, Michael Shamburger, and Rob Wedel


May 17, 2022

Type of alert:

SEC Administrative Proceeding  

The SEC found that allegedly conflicts of interest were not properly disclosed and that broker-dealer registration violations were committed by Foundation Asset Management and its two principals, Michael Shamburger and Rob Wedel. In total, the Commission ordered the Respondents to pay $324,947 and created a Fair Fund so the penalties paid, along with the disgorgement and interest paid, can be distributed to harmed investors.

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