UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 98762 / October 17, 2023

ADMINISTRATIVE PROCEEDING

File No. 3-20526

In the Matter of

Frontier Wealth Management, LLC 

and Shawn Sokolosky,

Respondents.

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NOTICE OF PROPOSED PLAN OF 

DISTRIBUTION AND 

OPPORTUNITY FOR COMMENT

Notice is hereby given, pursuant to Rule 1103 of the United States Securities and 

Exchange Commission’s (the “Commission”) Rules on Fair Fund and Disgorgement Plans (the 

“Commission’s Rules”), 17 C.F.R. § 201.1103, that the Division of Enforcement has submitted 

to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of 

monies paid in the above-captioned matter.

On September 3, 2021, the Commission issued an Order Instituting Administrative and 

Cease-and-Desist Proceedings, Pursuant to 8A of the Securities Act of 1933, Sections 203(e), 

203(f) and 203(k) of the Investment Advisers Act of 1940, and Section 9(b) of the Investment 

Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-andDesist Order (the “Order”)1

against Frontier Wealth Management, LLC and Shawn Sokolosky 

(collectively, the “Respondents”). In the Order, the Commission found that from January 2016 

to February 2018, Frontier failed to adopt and implement written policies and procedures 

reasonably designed to prevent its investment advisory representatives (“IARs”) from 

recommending certain types of complex products to clients for whom they were not suitable. In 

total, the Commission ordered the Respondents to pay $261,617.00 in disgorgement, $47,095.00 

in prejudgment interest, and $450,000.00 in civil money penalties, for a collective total of 

$758,712.00, to the Commission. The Commission also created a Fair Fund, pursuant to Section 

308(a) of the Sarbanes-Oxley Act of 2002, so the penalties paid, along with the disgorgement 

and interest paid, can be distributed to harmed investors (the “Fair Fund”).

The Fair Fund includes the $758,712.00 paid by the Respondents. The assets of the Fair 

Fund are subject to the continuing jurisdiction and control of the Commission. The Fair Fund 

and has been deposited in a Commission-designed account at the U.S. Department of the 

Treasury, and any interest accrued will be added to the Fair Fund.

1

 Securities Act Rel. No. 10978 (Sept. 3, 2021).
2

OPPORTUNITY FOR COMMENT

Pursuant to this Notice, all interested persons are advised that they may obtain a copy of 

the Plan from the Commission’s public website at http://www.sec.gov/litigation/fairfundlist.htm. 

Interested persons may also obtain a written copy of the Proposed Plan by submitting a written 

request to Jennifer Cardello via email at cardelloj@sec.gov. All persons who desire to comment 

on the Proposed Plan may submit their comments, in writing, no later than thirty (30) days from 

the date of this Notice:

1. to the Office of the Secretary, United States Securities and Exchange 

Commission, 100 F Street, NE, Washington, DC 20549-1090;

2. by using the Commission’s Internet comment form 

(http://www.sec.gov/litigation/admin.shtml); or

3. by sending an e-mail to rule-comments@sec.gov.

Comments submitted by email or via the Commission’s website should include “Administrative 

Proceeding File No. 3-20526” in the subject line. Comments received will be publicly available. 

Persons should submit only information they wish to make publicly available.

THE PROPOSED PLAN

The Net Available Fair Fund2is comprised of the $758,712.00 in disgorgement, 

prejudgment interest, and civil money penalties paid by the Respondents, plus any interest and 

income earned thereon, less Administrative Costs. The Proposed Plan provides for the 

distribution of the Net Available Fair Fund to compensate investors based on management fees 

paid in connection with their investment in the Frontier Permo Fund from February 1, 2016 

through February 28, 2018, inclusive, as calculated by the methodology used in the Plan of 

Allocation in the Proposed Plan. 

For the Commission, by the Division of Enforcement, pursuant to delegated authority.3

Vanessa A. Countryman

Secretary 

2 All capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Proposed 

Plan.

3 17 C.F.R. § 200.30-4(a)(21)(iii).