- 2015
- $100,000
Proceeding addressing self-reported violations in connection with respondent’s underwriting of certain muni offerings. It was found that respondent conducted inadequate due diligence in certain offerings and, as a result, failed to form a reasonable basis for believing the truthfulness of certain material representations in official statements about the offerings. Respondent thereby offered and sold the munis on the basis of materially misleading disclosure documents.
