# UNITED STATES OF AMERICA

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URL: https://www.frixlaw.com/law-library/documents/agency%3Asec%3A6a3c2d2a11997233

## Record

- **Collection:** Agency decision
- **Document type:** Agency decision

## Text

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 104915 / March 2, 2026
ADMINISTRATIVE PROCEEDING
File No. 3-20954
In the Matter of
Richard Keith Robertson,
Respondent.

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ORDER DIRECTING
DISBURSEMENT OF FAIR FUND

ADMINISTRATIVE PROCEEDING
File No. 3-20955
In the Matter of
IFP Advisors, LLC,
Respondent.

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On August 30, 2024, the Secretary, pursuant to delegated authority, published a Notice of
Proposed Plan of Distribution and Opportunity for Comment (“Notice”), 1 pursuant to Rule 1103
of the Commission’s Rules on Fair Fund and Disgorgement Plans (“Commission’s Rules”); 2 and
simultaneously posted the Proposed Plan of Distribution (the “Proposed Plan”). The Notice
advised interested persons that they could obtain a copy of the Proposed Plan from the
Commission’s public website or by submitting a written request to Michael Lim, United States

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Exchange Act Rel. No. 100886 (Aug. 30, 2024).
17 C.F.R. § 201.1103.

Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-5876. The
Notice also advised that all persons desiring to comment on the Proposed Plan could submit their
comments, in writing, within 30 days of the Notice. The Commission received no comments on
the Proposed Plan during the comment period. On December 20, 2024, the Secretary, pursuant
to delegated authority, issued an order approving the Proposed Plan, 3 and posted the approved
Plan of Distribution (the “Plan”).
The Plan provides for the distribution of the Fair Fund, plus accumulated interest, less
taxes, fees, and expenses, to investors as calculated by the methodology used in the Plan of
Allocation attached as Exhibit A to the Proposed Plan.
Pursuant to the Plan, the Fund Administrator has submitted a payment file to Commission
staff with a reasonable assurances letter as to the completeness and accuracy of the information
contained therein. The Commission staff has reviewed and accepted the payment file and
requests, pursuant to Rule 1101(b)(6) of the Commission’s Rules, 17 C.F.R. § 201.1101(b)(6),
that the Commission authorize the transfer of $1,298,407.59 from the Fair Fund to the Fair
Fund’s escrow account at UMB Bank, N.A. for distribution by the Fund Administrator in
accordance with the Plan.
Accordingly, it is hereby ORDERED, that Commission staff shall transfer $1,298,407.59
from the Fair Fund to the Fair Fund’s escrow account, for a total distribution of $1,298,407.59 by
the Fund Administrator in accordance with the Plan.
For the Commission, by the Division of Enforcement, pursuant to delegated authority. 4
Vanessa A. Countryman
Secretary
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Exchange Act Rel. No. 102019 (Dec. 20, 2024).
17 C.F.R. § 200.30-4(a)(21)(v).

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Asec%3A6a3c2d2a11997233. Public record. Not legal advice.