The allegations read: Albert vagnozzi and other named respondents (respondents) failed to take steps necessary to ensure that the material information contained in form adv remains current and accurate and have not filed with the department an amendment on form adv within 30 days of the occurrence of the event which requires the filing of the amendment in violation of section 305(a)(v) of the pa securities act of 1972 "1972 act" and regulation 303.012(i). Respondents failed to file with the department an audited balance sheet as of the end of its fiscal year as required for an investment adviser that has custody of client funds or securities in violation of section 305(a)(v) of the 1972 act and regulation 304.022(a)(1).
