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McRae Capital Management L.L.C., Peter McRae – Consent Order – S-25-3931-25-CO01

Case summary

On July 8, 2025, the Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-25-3931-25-CO01) against McRae Capital Management L.L.C., Peter McRae.

Order details

Order File: S-25-3931-25-CO01

Laws & Rules: RCW 21.20.040

Penalties/Remedies:

  • Fine of $20,000 to MCM & McRae
  • Disgorgement of fees
  • Investigative costs: $1,500
  • Cease and desist

Findings

  • Respondents exceeded the de minimis clientele allowed under Washington law.
  • Respondents violated the Securities Act by acting as an investment adviser and/or investment adviser representative while not registered to do so. 

The Respondents waived their right to a hearing and to judicial review of the matter.

Order file

View order file