Florida Office of Financial Regulation

Rendered investment advice, from a location within Florida, without being registered by the Office.

Order

Cease and Desist

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

$15,000.00

On July 20, 2021, the Office of Financial Regulation (Office) entered a Final Order adopting the Stipulation and Consent Agreement in the matter of John W. Exner (Exner). Exner neither admitted nor denied the finding but consented to the entry of the finding by the Office. The Office found that Exner violated section 517.12(4), Florida Statutes, by rendering investment advice, from a location within Florida, without being registered by the Office. Exner agreed to Cease and Desist from violations of Chapter 517, Florida Statutes, and the Office's rules promulgated thereunder, and to pay an administrative fine in the amount of $15,000. The Office agreed to approve Exner's application as an associated person (RA) with Integrated Wealth Concepts, LLC effective July 20, 2021. This matter was caused by an inadvertent administrative error by my investment advisory firm - Integrated Wealth Concepts. I notified the Firm in a timely manner regarding my transition to Florida, but, due to the Firm's inadvertent oversight, my Florida IAR registration did not occur in a timely fashion. At all times I was properly registered as a registered representative in Florida, and as an IAR in Virginia. Integrated Wealth Concepts acknowledged its error.