Securities Enforcement Empirical Database (SEED)

Defendant Name: James Michael Saul

Defendant Type: Individual

Initial Case Details

Legal Case Name SEC v. Rhode Island Commerce Corporation (f/k/a Rhode Island Economic Development Corporation), Wells Fargo Securities, LLC, Peter M. Canada, Keith W. Stokes, and James Michael Saul

First Document Date 07-Mar-2016

Initial Filing Format Civil Proceeding

Case Number 16-cv-00107

Allegation Type Municipal Securities & Public Pensions

Federal District Court Rhode Island, District of Rhode Island

Affiliations

Former: Deputy Director at Rhode Island Commerce Corporation

Violations Alleged

Securities Act

• Sec 17(a)(2)

• Sec 17(a)(3)

Related Violations Alleged

James Michael Saul is alleged to have aided and abetted Rhode Island Commerce Corporation's violation of Sec 17(a)(2) of the Securities Act.

James Michael Saul is alleged to have aided and abetted Rhode Island Commerce Corporation's violation of Sec 17(a)(3) of the Securities Act.

Resolutions

Bars:

Bar on association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization (of permanent duration)
Bar on participating in any future municipal securities offerings. (of permanent duration)

First Resolution Date 22-Mar-2016

Headline Total Penalty and Disgorgement $912,500

Other Defendants in Action:

Wells Fargo Securities LLC

Rhode Island Commerce Corporation

Keith W. Stokes

Peter M. Cannava

Related Actions:

In the Matter of First Southwest Company, LLC

First Southwest Company, LLC