Raymond Joseph Lucia Sr., a former certified financial planner and former registered investment adviser, and his company Raymond J. Lucia Cos. have agreed to a settlement with the U.S. Securities and Exchange Commission.
As part of the settlement, Lucia and his firm, Raymond J. Lucia Cos., neither admit nor deny the findings in the order, and agree to pay a penalty of $25,000 and to drop his affirmative case against SEC.
Previously, an SEC administrative law judge found Lucia committed fraud, fined him $300,000, and barred him for life from working as an adviser. His case went to the U.S. Supreme Court once to vindicate his right to be tried before a lawfully appointed administrative law judge in 2010.
To read the full release by New Civil Liberties Alliance, a nonpartisan, nonprofit civil rights organization, which negotiated the settlement on behalf of Lucia and Raymond J. Lucia Cos.,
