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Form ADV Part 1A Item 11C(1) · Answer type: yn · Item 11 - Disclosure Information
Item 11C(1) asks whether the SEC or CFTC has found the firm or any advisory affiliate to have made a false statement or omission.
This question captures formal regulatory findings where federal securities or commodities regulators determined that the firm or affiliated persons provided false information or failed to disclose required facts in regulatory filings, client communications, or other official contexts.
False statements include any materially incorrect information provided to regulators or clients. Omissions mean failing to disclose material facts that regulations require or that would be important for regulatory or client decision-making. Both violations indicate problems with transparency and regulatory compliance.
Yes
The firm reports that the SEC or CFTC has made formal findings that the firm or an advisory affiliate made false statements or omissions. This indicates the regulatory finding occurred.
No
The firm reports No under 11C(1). This answer applies only to this question.
11C(1) - Found you or any advisory affiliate to have made a false statement or omission?
This checkbox appears in Item 11C, which covers regulatory findings by the SEC or CFTC against investment advisers and related persons.
What 11C(1) does not tell you is the specific nature of false statements, their materiality to client service, when findings occurred, or what remedial actions followed. A finding could represent anything from minor disclosure omissions to significant misrepresentations about investment strategy or performance.
Yes
Review the detailed disclosure narrative on Form ADV to understand what specific false statements or omissions occurred, when findings were made, which affiliate was involved, and what consequences followed.
No
The firm reports No under 11C(1). Review the other Item 11 rows separately because each question has its own scope.