Case summary
On May 28, 2025, the Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-23-3677-24-CO01) against Pacific Coast Investment Advisors, LLC, Ryan Joseph Murphy.
Order details
Order File: S-23-3677-24-CO01
Laws & Rules: RCW 21.20.040
Penalties/Remedies:
- Fine of $15,000 to Pacific Coast & Murphy
- Disgorgement of fees
- Investigative costs: $1,000
- Cease and desist
Findings
- Respondents exceeded the de minimis clientele allowed under Washington law.
- Respondents acted as an investment adviser while not registered or exempt from registration under Washington law.