Clarice Saw Sanctioned In SEC Civil Action Regarding Alleged Misappropriation

Securities and Exchange Commission (SEC) took action against securities broker Clarice Crystal Saw (also known as Clarice Chin Saw) [CRD: 2633118, Wilmington, Delaware], based on public information through FINRA. BrokerCheck identifies Wilmington, Delaware, as the location of Coastal Equities Inc., where Saw worked from November 21, 2022, to August 1, 2023; she also worked for Cetera Investment Services LLC from September 30, 2021, to June 30, 2022. Investors should continue reading to find out more about Saw’s disclosures.

Federal Court Issued Civil Penalty Against Saw

Evidently, on April 15, 2026, the United States District Court for the Southern District of New York entered a final judgment in SEC Case 1:23-cv-06573. The judgment permanently enjoined Saw from future violations and ordered her to pay $640,587.30 in disgorgement, $98,144.04 in prejudgment interest, and a $640,587.30 civil penalty.

The SEC alleged that, from approximately December 2021 through March 2022, Saw misappropriated approximately $2.4 million from an elderly brokerage investor. According to the complaint, Saw deceptively obtained power of attorney, falsified brokerage records, liquidated securities without authorization, and transferred assets into her personal accounts. The SEC alleged that this conduct violated Securities Act Sections 17(a)(1) and 17(a)(2), Exchange Act Section 10(b), and Rule 10b-5.

Clarice Saw Discharged By Coastal Equities For Alleged Misappropriation

Also, Coastal Equities Inc. disaffiliated with Saw on August 1, 2023. Allegedly, Saw was discharged after the SEC filed a complaint accusing her of misappropriating funds from an investor while she was affiliated with a prior firm.

Have You Made Investments Through Financial Advisor / Securities Broker Saw?

Do you have concerns or questions regarding investments you made with Clarice Saw? You can contact Soreide Law Group online or at (888) 760-6552 and consult with a securities attorney about a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States. Also, our securities lawyers work on a contingency fee arrangement and advance all costs. Saw and the brokerage firms she worked for deny allegations of sales practice violations.