In the Matter of Packerland Brokerage Services, Inc.
Admin. Proc. File No. 3-18319

On December 21, 2017, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (the “Order”) against Packerland Brokerage Services, Inc. (“Packerland”) and Atlas Capital Management Corp. (collectively, the “Respondents”). In the Order, the Commission found that, the Respondents made inadequate disclosures and failed to seek best execution for their clients, while acting as registered investment advisers, in violation of federal securities laws. The Commission ordered Packerland to pay $432,949.80 in disgorgement (“Distribution Fund”). The Commission also ordered Packerland to pay an additional $103,937.00 in prejudgment interest and civil money penalty to the Commission for transfer to the U.S. Treasury.

The Order provides for the Packerland to deposit the Distribution Fund into an escrow account, acceptable to the Commission staff. Packerland is responsible for distributing the Distribution Fund in accordance with the Order. Tax compliance and any related administrative expenses are the responsibility of Packerland. The Order requires that Packerland submit to the Commission staff a final accounting and certification of the disposition of the Distribution Fund within 150 days of the distribution of funds. See the Commission’s Order: Release No. 34-82383.

For more information, please contact the Commission:

Office of Distributions