In the Matter of North East Asset Management Group, Inc. and Gregory A. Zandlo

Admin. Proc. File No. 3-22481

On June 3, 2025, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (the “Order”) against North East Asset Management Group, Inc. (“North East Asset Management”) and Gregory A. Zandlo (“Zandlo”) (collectively, the “Respondents”). In the Order, the Commission found that from December 1, 2020, through May 31, 2022, North East Asset Management and Zandlo engaged in cherry-picking when they disproportionally allocated certain profitable trades to accounts for North East Asset Management, Zandlo, and individuals related to Zandlo (collectively, the “Favored Accounts”), and allocated unprofitable trades to other North East Asset Management advisory clients. The Commission ordered North East Asset Management to pay $10,609.00 in disgorgement and $2,260.36 in prejudgment interest, and ordered Zandlo to pay $80,599.00 in disgorgement, $17,172.47 in prejudgment interest, and a $141,000.00 civil money penalty, for a collective total of $251,640.83, to the Commission. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the disgorgement, prejudgment interest, and penalty collected can be distributed to harmed investors (the “Fair Fund”). See the Commission’s Order: Release No. 34-103173.

The Fair Fund consists of the $251,640.83 collected from the Respondents. The Fair Fund has been deposited in a Commission-designated account at the U.S. Department of the Treasury, and any accrued interest will be added to the Fair Fund.

On December 17, 2025, the Commission issued an order appointing Heffler, Radetich & Saitta, LLP, as the Tax Administrator of the Fair Fund.  See the Commission’s Order:  Release No. 34-104422.

On March 2, 2026, the Commission issued an order appointing KCC Class Action Services LLC, as the Fund Administrator of the Fair Fund.  See the Commission’s Order:  Release No. 34-104913.

For more information, please contact the Commission.

Office of Distributions
Email: ENFOfficeofDistributions@sec.gov