Defendant Name: Hilltop Securities Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Hilltop Holdings, Inc.
SIC Code: 6022
CUSIP: 43274810

Initial Case Details

Legal Case Name In the Matter of Hilltop Securities Inc. and Daniel C. Tracy
First Document Date 09-Jul-2021
Initial Filing Format Administrative Action
File Number 3-20389
Allegation Type Municipal Securities & Public Pensions

Violations Alleged

Other
• Failure to supervise ex Section 15(b)(4)(E) Exchange Act

Resolutions

First Resolution Date 09-Jul-2021
Headline Total Penalty and Disgorgement $340,193

Related Documents:

34-92370 09-Jul-2021 Administrative Proceeding
Order Instituting Administrative and Cease-And-Desist Proceeding Pursuant to Sections 15(b), 15(c), and 21(c) of the Securities Exchange Act of 1934 and Sections 203(e) and 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-And-Desist Order
On July 9, 2021, the SEC instituted settled administrative and cease-and-desist proceedings against Hilltop Securities Inc. and Daniel C. Tracy stating: "This matter involves Hilltop and Daniel C. Tracy’s violation of certain rules of the Municipal Securities Rulemaking Board (“MSRB”) and Hilltop’s failure reasonably to supervise a registered representative in connection with retail order periods for negotiated new issue municipal bonds."
34-92370-s 09-Jul-2021 Administrative Summary
SEC Charges Hilltop Securities and Trader for Misconduct in Municipal Offerings
The SEC stated that: "[It] instituted a settled enforcement action against Hilltop Securities Inc. and Daniel C. Tracy, a Hilltop municipal trader, for improperly obtaining retail priority allocations of new issue municipal bonds when Hilltop, a broker-dealer, was not entitled to such priority."

Other Defendants in Action:

Daniel C. Tracy