[ by Melanie Gretchen ] The SEC has revoked the ability of International Asset Group, Inc. (IAG) to be regulated as a business development company (BDC).  Over a period of almost 10 years, the firm failed to file the required periodic reports with the agency, maintain a fidelity bond, and ceased to do business. SEC Findings and Allegations. Since it elected to be regulated on 10/24/02, it never filed any periodic reports, in violation of Investment Company Act Section 8(a).  It also violated Investment Company Act Sections 17(g) and 59 and Rule 17g-1 -- it failed to provided a bond issued by a reputable fidelity insurance company against larceny and embezzlement by its officers and employees. In the time since the Commission initiated the proceeding on 3/29/12, with an Order Instituting Proceedings (OIP), pursuant to Sections 9(f) and 54(c) of the Investment Company Act, IAG failed to file an Answer to the OIP, due 20 after service.  Accordingly, IAG is in default, and the SEC finds that the allegations in the OIP are true. To date, its Nevada corporate registration has also been revoked. For further details, go to [SEC, Release No. 30088, 5/30/12].