Summit Planning Group, Inc..

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GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
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 Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
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:
1239283
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No

Name:
URCIUOLI, RICHARD, JOHN
(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.D(4), 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.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
2.
Principal Sanction:
Cease and Desist
Other Sanctions: 
CENSURE CIVIL AND ADMINISTRATIVE PENALTIES
3.
Date Initiated (MM/DD/YYYY): 
09/18/2023
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
3-21673
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
SUMMIT PLANNING GROUP, INC.
6.
Principal Product Type:
Other
Other Product Types: 
EXCHANGE TRADED NOTES
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
THESE PROCEEDINGS ARISE OUT OF BREACHES OF THE FIDUCIARY DUTY OF CARE AND COMPLIANCE FAILURES BY SUMMIT, A REGISTERED INVESTMENT
ADVISER, AND URCIUOLI, SUMMIT'S SOLE OWNER AND INVESTMENT PROFESSIONAL, WHO INVESTED ADVISORY CLIENT ASSETS IN A VOLATILITY
LINKED EXCHANGE TRADED PRODUCT-THE IPATH SERIES B S&P 500 VIX SHORT-TERM FUTURES ETN ("VXX")-FOR EXTENDED PERIODS OF TIME
WITHOUT HAVING A REASONABLE BASIS TO DO SO. OF THE 457 CLIENT ACCOUNTS THAT SUMMIT ADVISED FROM JULY 30, 2021 AND DECEMBER 1,
2021, URCIUOLI INVESTED 293 OF THOSE ACCOUNTS IN A 3% POSITION IN VXX ON JULY 30, 2021. SUMMIT SOLD APPROXIMATELY HALF OF THE VXX
POSITION IN THOSE ACCOUNTS 34 TRADING DAYS LATER ON SEPTEMBER 17, 2021, AND THE REMAINING VXX POSITION IN EACH ACCOUNT 86
TRADING DAYS LATER ON DECEMBER 1, 2021. THIS CONDUCT WAS INCONSISTENT WITH VXX'S PROSPECTUS AND PRICING SUPPLEMENT, WHICH
STATED THAT THE PRODUCT CARRIED UNIQUE RISKS, WAS DESIGNED TO BE HELD FOR VERY SHORT TIME PERIODS, LIKELY WOULD INCUR COSTS IF
HELD FOR MORE THAN ONE TRADING SESSION, AND REQUIRED FREQUENT MONITORING. THE CLIENT ACCOUNTS HOLDING VXX COLLECTIVELY LOST
OVER $443,809 FROM THOSE INVESTMENTS. SUMMIT ALSO FAILED TO ADOPT AND IMPLEMENT POLICIES AND PROCEDURES REASONABLY DESIGNED
TO PREVENT VIOLATIONS OF THE ADVISERS ACT AND THE RULES ADOPTED THEREUNDER. AS SUMMIT'S SOLE OWNER AND INVESTMENT ADVISER
REPRESENTATIVE, PRESIDENT, AND CHIEF COMPLIANCE OFFICER, URCIUOLI WAS RESPONSIBLE FOR SUMMIT'S FAILURES. BASED ON THIS CONDUCT,
AND AS DESCRIBED IN FURTHER DETAIL BELOW, SUMMIT AND URCIUOLI WILLFULLY VIOLATED SECTION 206(2) OF THE ADVISERS ACT.1 SUMMIT ALSO
WILLFULLY VIOLATED, AND URCIUOLI CAUSED SUMMIT'S VIOLATIONS OF, SECTION 206(4) OF THE ADVISERS ACT AND RULE 206(4)-7 THEREUNDER.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Order
11. Resolution Date (MM/DD/YYYY):
09/18/2023
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 109,401.59
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
CEASE AND DESIST
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: 
CEASE AND DESIST, CIVIL AND ADMINISTRATIVE PENALTY(IES)/FINE(S) MONETARY PENALTY OTHER THAN FINES DISGORGEMENT
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
PAYMENT SHALL BE MADE IN THE FOLLOWING INSTALLMENTS: (1) $49,401.59 WITHIN 14 DAYS OF ENTRY OF THIS ORDER; (2) $20,000 WITHIN 120
DAYS OF ENTRY OF THIS ORDER; (3) $20,000 WITHIN 210 DAYS OF ENTRY OF THIS ORDER; AND (4) THE REMAINDER WITHIN 300 DAYS AFTER THE
ENTRY OF THIS ORDER