- 2002
- $15,978
Respondent was responsible for calculating the prevailing market price from which markups were calculated on principal transactions, and received a percentage of the commissions and markups charged on trades he executed. The SEC found that, during the relevant time period, customers were charged approximately $227,153 in excessive, undisclosed markups on sales of Globalnet Systems Ltd. (Globalnet), a microcap stock for which there was no real demand outside of respondent’s firm.
