On December 26, 2017, the Securities and Exchange Commission announced that a judge had issued an order finding Anvil Partners Inc. and its majority owner, president, and chief investment officer, Jeremy Beck, to be in civil contempt of court for failing to comply with the court’s previous order. Anvil Partners is a Buffalo, New York investment adviser registered with the SEC. The SEC is currently investing the firm for overstating its assets under management in its public filings among other things.
On June 6, 2017, the SEC issued an investigative subpoena to Anvil requiring the firm to produce certain documents. Anvil failed to produce any of the documents and never responded to the subpoena. The Securities and Exchange Commission filed the subpoena on August 21, 2017. On September 21, 2017, the court entered an order requiring Anvil to comply with the SEC subpoena.
Anvil failed to comply with the order. After a hearing on December 19, 2017, the court held Anvil and Beck in civil contempt. The contempt order requires Anvil and Beck to reimburse the SEC the costs of serving them with the court papers in this proceeding. A $250 daily fine against Anvil and Beck will also be imposed until Anvil complies with the subpoena enforcement order.
Additional details regarding the investigation and the contempt order can be found here.