- 2015
- $4.3 Million
Respondents were a purported stock-based lender and its principals. The SEC found that they repeatedly violated broker-dealer and securities registration provisions in connection with the purchase and sale of securities of over 64 microcap stock companies and other issuers. Among other infractions, the company’s “loan” process involved liquidating the stock pledged as collateral, with the company frequently not even funding until after it had liquidated sufficient shares. Such activity is restricted to registered broker-dealers.
