SEAN DONOVAN CASTERLINE - Investment Adviser

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Detailed ReportReport

SEAN DONOVAN CASTERLINE

SEAN DONAVAN CASTERLINE

CRD#: 2212919

Previous Investment Adviser

Previous Broker

The representative was previously registered both as an investment adviser and as a broker. Visit BrokerCheck for more information on this individual's Broker record. Go to BrokerCheck Site

Licenses

Licenses

0 Licenses

Registration History

Disclosure(s)

View By:

11/14/2023

Customer Dispute

Pending

12/30/2021

Regulatory

Final

Initiated By

FINRA

Allegations

Without admitting or denying the findings, Casterline consented to the sanctions and to the entry of findings that he participated in private securities transactions without providing prior notice to his member firm. The findings stated that when Casterline became associated with the firm, he disclosed that he had an outside business activity (OBA) as the managing director of private equity for an entity that was raising capital to develop and operate senior living facilities (the Issuer). But after joining the firm, Casterline signed agreements with the firm that prohibited him from participating in any private securities transactions while the firm was undergoing an ownership change, through which Casterline would become the indirect owner of the firm, which was pending FINRA approval. While registered through the firm and prior to FINRA's approval of the ownership change, Casterline participated in private securities transactions by soliciting investments in membership units issued by the Issuer. The membership units were securities. Casterline contacted prospective investors to notify them of the investment opportunity. Casterline then provided the private placement memorandum, subscription agreement, and other offering materials to interested investors; participated in discussions about the proposed investment with interested investors; and facilitated the sale of approximately $1.5 million of the membership units to investors. The Issuer paid Casterline $116,325 in selling compensation for his participation in the transactions. While Casterline had notified the firm that he was engaged in an OBA with the Issuer, he did not provide prior written notice to or obtain written approval from the firm to participate in the sales of the Issuer's membership units. Casterline's participation in the membership unit securities transactions was outside the regular course and scope of his employment with the firm.

Resolution

Acceptance, Waiver & Consent(AWC)

Sanctions

Civil and Administrative Penalty(ies)/Fine(s)

Amount

$5,000.00

Sanctions

Disgorgement

Amount

$116,325.00

Sanctions

Suspension

Registration Capacities Affected

All capacities

Duration

18 months

Start Date

1/18/2022

End Date

7/17/2023

Previous Registration(s)

th hidden text	th hidden text	Name	Location
IA	11/26/2002 - 04/19/2022	DELTA ADVISORY GROUP, INC. (CRD#:105966)	Maitland, FL
IA	10/26/2015 - 12/08/2021	GREENLEAF ADVISORS (CRD#:172332)	Orlando, FL
IA	01/02/2004 - 11/09/2021	DELTA CAPITAL MANAGEMENT, LLC (CRD#:128350)	LONGWOOD, FL
IA	03/29/2016 - 11/05/2021	AEGIS WEALTH MANAGEMENT, LLC (CRD#:199511)	MAITLAND, FL
IA	04/20/2009 - 10/26/2009	DYNETECH CAPITAL CORPORATION (CRD#:149557)	LONGWOOD, FL
IA	08/08/2002 - 05/27/2004	DELTA FIRST FINANCIAL, INC. (CRD#:16776)	LONGWOOD, FL

DELTA ADVISORY GROUP, INC. (CRD#:105966)

Maitland, FL

11/26/2002 - 04/19/2022

GREENLEAF ADVISORS (CRD#:172332)

Orlando, FL

10/26/2015 - 12/08/2021

DELTA CAPITAL MANAGEMENT, LLC (CRD#:128350)

LONGWOOD, FL

01/02/2004 - 11/09/2021

AEGIS WEALTH MANAGEMENT, LLC (CRD#:199511)

MAITLAND, FL

03/29/2016 - 11/05/2021

DYNETECH CAPITAL CORPORATION (CRD#:149557)

LONGWOOD, FL

04/20/2009 - 10/26/2009

DELTA FIRST FINANCIAL, INC. (CRD#:16776)

LONGWOOD, FL

08/08/2002 - 05/27/2004

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Broker

A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.

Investment Adviser

An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.

Disclosures

Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.