Defendant Name:
Piper Jaffray & Co.
Defendant Type:
Subsidiary of Public Company
Document Reference:
2013-235-Piper Jaffray
Document Details
Legal Case Name
In the Matter of Piper Jaffray & Co. and Jane Towery
Document Name
SEC Charges Municipal Issuer in Washington's Wenatchee Valley Region for Misleading Investors
Document Date
05-Nov-2013
Document Format
Administrative Proceeding
Allegation Type
Municipal Securities & Public Pensions
Document Summary
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.
Disgorgement & Penalty Information
Resolutions
Censured
Compliance Related Independent Consultant
Various Undertakings
Other Defendants in Action:
