Sapere Wealth Management, LLC

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Item 11.H. of Part
1A or Item 2.F. of Part 1B of Form ADV.
Civil Judicial
Check Part 1A item(s) being responded to:
11.H(1)(a)
11.H(1)(b)
11.H(1)(c)
11.H(2)
Check Part 1B item(s) being responded to:
2.F(1)
2.F(2)
2.F(3)
2.F(4)
2.F(5)
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Item 11.H. of Part 1A or Item 2.F. of Part 1B. Use only one DRP to report details related to the
same event. Unrelated civil judicial actions must be reported on separate DRPs.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
1298222
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
TREASE, SCOTT, PATRICK

(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.H.
(1)(a), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Court Action initiated by: (Name of regulator, foreign financial regulatory authority, SRO, commodities exchange, agency, firm, private plaintiff, etc.) 
SECURITIES AND EXCHANGE COMMISSION
2.
Principal Relief Sought:
Cease and Desist
Other Relief Sought: 
PERMANENTLY RESTRAINING AND ENJOINING DEFENDANTS FROM, DIRECTLY OR INDIRECTLY, VIOLATING SECTION 206(2) OF THE ADVISERS ACT [15
U.S.C. 80B-6(2)]
3.
Filing Date of Court Action (MM/DD/YYYY):
03/22/2023
 Exact
 Explanation
If not exact, provide explanation:
4.
Principal Product Type:
Other
Other Product Types: 
ALTERNATIVE INVESTMENTS
5.
Formal Action was brought in (include name of Federal, State or Foreign Court, Location of Court - City or County and State or Country, Docket/Case
Number): 
UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF NORTH CAROLINA CASE/DOCKET NUMBER - 3:23-CV-00172-MOC-DSC
6.
Advisory Affiliate Employing Firm when activity occurred which led to the civil judicial action (if applicable): 
SAPERE WEALTH MANAGEMENT LLC
7.
Describe the allegations related to this civil action (your response must fit within the space provided): 
BREACH OF FIDUCIARY DUTY IN VIOLATION OF SECTION 206(2) OF THE ADVISERS ACT
8.
Current Status? 
 Pending
 On Appeal
 Final
9.
If on appeal, action appealed to (provide name of court) and Date Appeal Filed (MM/DD/YYYY): 
10. If pending, date notice/process was served (MM/DD/YYYY):
 Exact
 Explanation
If not exact, provide explanation:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 14 only.
11. How was matter resolved:
Judgment Rendered
12. Resolution Date (MM/DD/YYYY): 
04/26/2023
 Exact
 Explanation

If not exact, provide explanation:
13. Resolution Detail:
A.  Were any of the following Sanctions Ordered or Relief Granted(check appropriate items)?
Monetary/Fine Amount: $ 100,000.00
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions:
DEFENDANTS SAPERE WEALTH MANAGEMENT, LLC, AND SCOTT TREASE (COLLECTIVELY, "DEFENDANTS") ARE PERMANENTLY RESTRAINED AND
ENJOINED FROM VIOLATING, DIRECTLY OR INDIRECTLY, SECTION 206(2) OF THE INVESTMENT ADVISERS ACT OF 1940 ("ADVISERS ACT");
PURSUANT TO SECTION 21(D)(5) OF THE SECURITIES EXCHANGE ACT OF 1934, DEFENDANTS ARE RESTRAINED AND ENJOINED FOR A PERIOD OF
5 YEARS FROM THE DATE OF THIS ORDER, FROM MAKING RECOMMENDATIONS TO, PROVIDING ADVICE TO, OR EXERCISING DISCRETIONARY
TRADING AUTHORITY ON BEHALF OF ANY CLIENT OF DEFENDANTS REGARDING ANY SECURITIES, INVESTMENT, OR DEBT TRANSACTION, EXCEPT
THAT DEFENDANTS ARE NOT PREVENTED FROM: (I) RECOMMENDING A TRANSACTION THAT CONSISTS OF BUYING OR SELLING PUBLICLY TRADED
SECURITIES; (II) RECOMMENDING A TRANSACTION THAT CONSISTS OF BUYING OR SELLING SECURITIES OR OTHER INTERESTS OF AN
INVESTMENT COMPANY REGISTERED WITH THE COMMISSION OR OF A POOLED INVESTMENT VEHICLE THAT INVESTS ONLY IN PUBLICLY TRADED
SECURITIES; OR (III) RECOMMENDING A TRANSACTION TO A CLIENT IF: (1) PRIOR TO MAKING SUCH RECOMMENDATION, DEFENDANTS ENGAGE A
DUE DILIGENCE CONSULTANT NOT AN ASSOCIATED PERSON OF DEFENDANT SAPERE OR ITS AFFILIATES, AND IN WHICH NO SUCH ASSOCIATED
PERSON HAS ANY OWNERSHIP, EMPLOYMENT, OR BENEFICIAL INTEREST, TO PERFORM DUE DILIGENCE ON THE ENTITIES AND INDIVIDUALS THAT
SUCH CONSULTANT DEEMS APPROPRIATE FOR REVIEW OF THE TRANSACTION; OR (2) THERE WAS PREVIOUSLY PERFORMED REASONABLE DUE
DILIGENCE BY A CONSULTANT ON THE ENTITIES AND INDIVIDUALS THAT THE CONSULTANT DEEMED APPROPRIATE FOR REVIEW OF THE
TRANSACTION.
C.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement, or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
FIVE (5) YEARS FROM THE DATE OF THIS ORDER; WITHIN 30 DAYS AFTER THE 5-YEAR ANNIVERSARY OF THIS ORDER, DEFENDANTS SHALL CERTIFY
IN WRITING COMPLIANCE WITH THE INJUNCTION SUMMARIZED IN B ABOVE AND MORE FULLY SET FOR IN THE ORDER. THE CERTIFICATION SHALL
IDENTIFY THE INJUNCTION AND PROVIDE WRITTEN EVIDENCE OF COMPLIANCE IN THE FORM OF A NARRATIVE AND SHALL BE SUBMITTED TO THE
ASSOCIATE REGIONAL DIRECTOR FOR ENFORCEMENT OF THE COMMISSION'S ATLANTA REGIONAL OFFICE, WITH A COPY TO THE OFFICE OF THE
CHIEF COUNSEL OF THE ENFORCEMENT DIVISION. IN ADDITION, DEFENDANT TREASE IS LIABLE FOR A CIVIL PENALTY IN THE AMOUNT OF
$100,000 , PAYABLE TO THE SECURITIES AND EXCHANGE COMMISSION WITHIN 30 DAYS AFTER ENTRY OF THIS FINAL JUDGMENT.
14. Provide a brief summary of circumstances related to the action(s), allegation(s), disposition(s) and/or finding(s) disclosed above (your response must
fit within the space provided). 
ON APRIL 26, 2023, SAPERE AND MR. TREASE REACHED A SETTLEMENT AGREEMENT WITH THE SEC, WHICH REPRESENTS THE CONCLUSION OF AN
INVESTIGATION CONDUCTED BY THE SEC. THE SETTLEMENT WAS FINALIZED THROUGH AN ORDER BY THE UNITED STATES DISTRICT COURT FOR THE
WESTERN DISTRICT OF NORTH CAROLINA AFTER REVIEW OF THE SEC'S COMPLAINT AND MOTION FOR ENTRY OF FINAL JUDGMENT, BASED UPON THE
SIGNED CONSENTS OF SAPERE AND MR. TREASE. BOTH SAPERE AND MR. TREASE, WITHOUT ADMITTING OR DENYING THE ALLEGATION OF BREACH OF
FIDUCIARY DUTY IN THE COMPLAINT, CONSENTED TO ENTRY OF A FINAL JUDGMENT PERMANENTLY RESTRAINING AND ENJOINING VIOLATION OF
FIDUCIARY DUTY AND ORDERING COMPLIANCE WITH A CONDUCT BASED INJUNCTION. AS PART OF THE CONDITIONS OF THE SETTLEMENT, SAPERE IS
SUBJECT TO AN INJUNCTION REQUIRING MORE EXTENSIVE THIRD PARTY DILIGENCE ON NON-TRADITIONAL UNREGISTERED ALTERNATIVE
TRANSACTIONS.