American Trust Investment Services Inc.

04/22/2025: American Trust has failed to reasonably supervise several areas since at least June 2020. From July 2020 to April 2021, the firm violated FINRA Rules 3110 and 2010 by failing to reasonably supervise sales of GWG L Bonds for compliance with Regulation Best Interest (Reg BI) and FINRA Rule 2111. In addition, since June 30, 2020, the firm also has failed to establish policies and procedures, and a supervisory system, reasonably designed to achieve compliance with Reg BI, thus willfully violating Securities Exchange Act Rule 15l-1(a)(1), and violating FINRA Rules 3110 and 2010. Further, from June 2020 to at least June 2021, the firm violated FINRA Rules 3110 and 2010 by failing to reasonably supervise for compliance with Securities Act of 1933 rules prohibiting general solicitation of private placement offerings. For these and other violations, the firm is censured, fined $100,000, ordered to pay restitution of $166,000, and agrees to an undertaking to retain an independent consultant.

Reference 2020068655902data-portal.finra.orgfinra.org

05/26/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2014040630701 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: American Trust Investment Services, Inc., Respondent CRD No. 3001 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the

Reference 2014040630701data-portal.finra.orgfinra.org