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SEC Prosecutions

SEC Prosecutions

Broker-Dealer and Principal Censured for Failure to Reasonably Supervise

In the Matter of Seasongood & Mayer and Richard D. Reis, Respondents

  • 1999
  • $70,000

Respondents were found to have failed to reasonably supervise their registered representative, William Bramble, who engaged in a 6-year scheme to defraud in which he misappropriated six customers’ municipal bearer bonds worth approximately $2 million by misrepresenting that he purchase, sell, or safekeep them for the customers’ accounts.

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