Judge hands Conn for $ 1.5 million. Broker in a SEC matter

0



Law360 (July 6, 2021, 8:32 p.m. EDT) – A federal judge in Connecticut ruled on Tuesday not to charge an investment adviser the full amount requested by the United States Securities and Exchange Commission for defrauding its clients , but still ordered fines of $ 1.5 million and restitution against the broker and his firm.

U.S. District Judge Jeffrey Alker Meyer said “substantial civil penalties” were still warranted for Westport Capital Markets LLC and its owner, Christopher McClure, after the judge and a jury separately concluded that they had generated hundreds of dollars. thousands of dollars in mark-ups and intentionally undisclosed fees. .

It is undisputed, however, that the two “do not have the current capacity to pay a substantial financial sum …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific case articles and topics and more!

TRY LAW360 FREE FOR SEVEN DAYS



Leave A Reply

Your email address will not be published.