Chris Conover: SEC Sanctions Hudson Companies Advisor

Pearl River, New York financial advisor Chris Conover (CRD# 2919616) has been sanctioned by the Securities and Exchange Commission (SEC) in connection with allegations that he failed to disclose conflicts of industry. Financial Industry Regulatory Authority and SEC records show that he is currently registered as an investment advisor with Hudson Companies.

Mr. Conover’s BrokerCheck report discloses the SEC sanction against him. Filed in May 2024, it describes findings that he and Hudson Companies failed to disclose conflicts of interest relating to “payments that a third-party film production finance company” made to him. He and the firm allegedly “materially misled” clients and investors in a private investment fund regarding these payments, which included approximately $530,000 in “executive producer compensation” for films in which the fund and separately managed accounts invested.

“Hudson and Conover initially failed to disclose these payments and then later misrepresented to these clients that Conover earned this compensation for work as an executive producer on these films,” the SEC found. “In fact, Conover received these payments from [a production company] solely as a fee in exchange for the monies that the Fund and the SMAs invested in the films.” In connection with these findings, he was censured, fined $150,000, and ordered to pay disgorgement of $531,787.

Hudson Companies’ website includes a profile of Mr. Conover that describes him as the firm’s Founder and President, explaining that he founded it in 2008 to close “the gap in quality between the level of service the financial industry traditionally offers individuals when compared to institutional investors.” It adds that he “leverages his expertise to advise clients and their families on investment decisions, asset allocation, retirement planning, and more.”

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Chris Conover has been registered with Hudson Companies in Pearl River, New York since 2021. His past registrations include Van Eck Securities Corporation (New York, New York; 2003-2008) and Guardian Investor Services (New York, New York; 2002-2003). His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the National Commodity Futures Examination, or Series 3; the Futures Managed Funds Examination, or Series 31; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in New York. (Information current as of May 18, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.