Defendant Name: Piper Jaffray & Co.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Piper Jaffray Companies
SIC Code: 6211
CUSIP: 72407810

Initial Case Details

Legal Case Name In the Matter of Piper Jaffray & Co. and Jane Towery
First Document Date 05-Nov-2013
Initial Filing Format Administrative Action
File Number 3-15603
Allegation Type Municipal Securities & Public Pensions

Violations Alleged

Securities Act
Sec 17(a)(2)
Sec 17(a)(3)


First Resolution Date 05-Nov-2013
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

33-9472 05-Nov-2013 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Sections 15(b) and 15(B)(c) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On November 5, 2013, the SEC filed settled administrative proceedings against Piper Jaffray & Co. According to the SEC: "In 2011, the Greater Wenatchee Regional Events Center Public Facilities District ('District') defaulted on $41.77 million in Bond Anticipation Notes ('BANs') it had issued in November 2008 to finance a multi-use arena and ice hockey rink (the 'Regional Center') located in the City of Wenatchee, Washington (the 'City'). Piper Jaffray & Co. ('Piper') served as the sole underwriter for the BANs and Jane Towery was the lead investment banker. The Official Statement for the BANs was materially false and misleading."
2013-235-Piper Jaffray 05-Nov-2013 Press Release--Administrative Proceeding
SEC Charges Municipal Issuer in Washington's Wenatchee Valley Region for Misleading Investors
On November 5, 2013, the SEC charged the Greater Wenatchee Regional Events Center Public Facilities District, a municipal issuer in the state of Washington's Wenatchee Valley region, with misleading investors in a bond offering that financed the construction of a regional events center and ice hockey arena. The SEC's settled administrative proceedings also name the developer Global Entertainment Corporation and its then-president and CEO Richard Kozuback, the underwriter Piper Jaffray & Co. and its lead investment banker Jane Towery, and Allison Williams, a senior staff member for the Greater Wenatchee Regional Events Center Public Facilities District who certified the accuracy of the official statement. In settling the SEC's charges, Piper Jaffray & Co. and Towery agreed to be censured and pay penalties of $300,000 and $25,000, respectively. The SEC's order also requires Piper Jaffray & Co. to retain an independent consultant to conduct a review of the firm's municipal underwriting due diligence policies and procedures as well as its supervisory policies and procedures relating to municipal underwriting due diligence.

Other Defendants in Action:

Related Actions:

In the Matter of The Greater Wenatchee Regional Events Center Public Facilities District, Allison Williams, Global Entertainment Corporation, and Richard Kozuback