Dupree Financial Group, LLC, an investment adviser registered with the SEC, was fined $25,000 for repeatedly failing to conduct the required annual review. As a reminder, under Section 206(4) of the Advisers Act and Rule 206(4)-7 thereunder, an investment adviser must review, no less frequently than annually, the adequacy of its compliance policies and procedures established pursuant to Rule 206(4)-7 and the effectiveness of their implementation.