Elevation LLC

Kurta Law is investigating allegations associated with brokers from Elevation LLC (CRD#: 140341). Elevation is a broker-dealer with headquarters in Charlotte, North Carolina.

Elevation LLC also does business as Elevation Securities.

Fees and Conflicts of Interest

Brokerage firms are required to provide a Customer Relationship Summary (Form CRS) that discloses how the firm and its brokers are compensated, as well as their conflicts of interest.

• Investors will be charged transaction fees and commissions disclosed in the firm’s Intermediary Services Agreement. These fees are charged upon completion of your transaction.
• Because these fees are charged upon completion of your transaction, your broker will not be compensated until a trade closes.
• Special purpose investment vehicles may also involve additional fees.

Broker-Dealer Services

Within Elevation, LLC, Elevation Private Markets (EPM) allows retail investors to invest in common and preferred shares of late-stage and pre-initial public offering (IPO) companies, either through direct transactions or through special purpose investment funds.

Elevation does not provide investment recommendations, but acts as an agent in the execution of securities transactions.

Regulatory Actions

Kurta Law wants investors to be aware that Elevation has been fined by the SEC and FINRA, according to its detailed BrokerCheck page.

Alleged Failure to Provide Form CRS

On September 25, 2024, the Securities and Exchange Commission filed cease-and-desist proceedings against Elevation, LLC, alleging that the firm failed to deliver a Form CRS to retail investors by deadlines of June 30 and July 30, 2020.

The SEC further alleged that Elevation filed its Form CRS on December 20, 2022, but failed to include all required information.

The SEC censured Elevation, fined it $60,000, and ordered the firm to cease and desist from violations of Section 17(a)(1) of the Securities Exchange Act and Rule 17a-14 thereunder.

FINRA Fine

On December 15, 2023, Elevation, LLC consented to the entry of findings that it allegedly failed to establish a supervisory system, including Written Supervisory Procedures (WSPs), reasonably designed to comply with federal securities laws and FINRA rules prohibiting fraudulent trading in equity securities.

According to a Letter of Acceptance, Waiver & Consent (AWC), Elevation’s WSPs allegedly did not provide procedures for monitoring the firm’s trade blotter for any type of fraudulent trading.

Elevation consented to a censure and $75,000 fine. You can read the AWC here.

How Can Investors Recover Lost Funds from a Brokerage Firm?

Brokerage firms often require investors to seek out FINRA arbitration to resolve their disputes. FINRA arbitration is faster and more cost-effective than a civil suit. A securities attorney can help you through the arbitration process and recover your losses.

Kurta Law Can Help

Investors who lost money working with an Elevation LLC broker should reach out to an investment fraud lawyer for help. Our attorneys offer free case evaluations and do not charge a fee unless we win your case. Call (877) 600-0098 or email info@kurtalawfirm.com.