Defendant Name: Oppenheimer & Co. Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Oppenheimer Holdings, Inc
SIC Code: 6211
CUSIP: 68379710

Initial Case Details

Legal Case Name In the Matter of Oppenheimer & Co. Inc.
First Document Date 27-Jan-2015
Initial Filing Format Administrative Action
File Number 3-16361
Allegation Type Broker Dealer
AAER 3621

Violations Alleged

Securities Act
• Sec 5
Other
• Section 15(a), 17(a) Exchange Act; Rules 17a-3(a)(2), 17-3(a)(9), 17a-8 Exchange Act

Related Violations Alleged

Oppenheimer & Co. Inc. is alleged to have aided and abetted Gibraltar Global Securities, Inc.'s violation of Section 15(a) Exchange Act (willfully/knowingly).
Oppenheimer & Co. Inc. is alleged to have caused Gibraltar Global Securities, Inc.'s violation of Section 15(a) Exchange Act.

Resolutions

First Resolution Date 27-Jan-2015
Headline Total Penalty and Disgorgement $10,000,000

Related Documents:

2015-14 27-Jan-2015 Press Release--Administrative Proceeding
SEC Charges Oppenheimer With Securities Law Violations Related to Improper Penny Stock Sales
On January 27, 2015, the SEC announced that it "charged Oppenheimer & Co. with violating federal securities laws while improperly selling penny stocks in unregistered offerings on behalf of customers."
33-9711 27-Jan-2015 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 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On January 27, 2015, the SEC instituted administrative and cease-and-desist proceedings against Oppenheimer & Co., Inc. According to the SEC: "Oppenheimer engaged in two separate courses of conduct, the first during the period July 2008 through May 2009 ('Oppenheimer I') and the second during the period October 2009 through December 2010 ('Oppenheimer II'), each of which violated the federal securities laws." The SEC stated that: "A penalty amount that includes an additional $10 million is appropriate for the conduct at issue herein, however, in light of the civil money penalty paid by Oppenheimer to FinCEN in In the Matter of Oppenheimer & Co., Inc., Number 2015-01, no additional penalty is being ordered at this time."

Related Actions:

SEC v. Gibraltar Global Securities, Inc., and Warren A. Davis
Gibraltar Global Securities, Inc.
Warren A. Davis
In the Matter of Scott A. Eisler
Scott A. Eisler
In the Matter of Arthur W. Lewis
Arthur W. Lewis
In the Matter of Warren A. Davis
Warren A. Davis