Defendant Name: National Securities Corp.

Defendant Type: Subsidiary of Public Company

Document Reference: 2014-246_3-16242

Document Details

Legal Case Name In the Matter of National Securities Corp.
Document Name SEC Sanctions 13 Firms for Improper Sales of Puerto Rico Junk Bonds
Document Date 03-Nov-2014
Document Format Administrative Proceeding
File Number 3-16242
Allegation Type Municipal Securities & Public Pensions
Document Summary On November 3, 2014, the SEC stated that: "[It] sanctioned 13 firms for violating a rule primarily designed to protect retail investors in the municipal securities market."

Disgorgement & Penalty Information

Resolutions
Censured
Other Compliance Related Undertaking
Monetary Penalties:

Civil Penalty

Individual:     $60,000.00 Shared:    

Related Documents:

34-73508 03-Nov-2014 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b), 15B(c)(2) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On November 3, 2014, the SEC instituted settled administrative proceedings against National Securities Corp. According to the SEC: "These proceedings involve the sale of non-investment grade or 'junk' bonds issued by the Puerto Rico by National Securities, a registered broker-dealer and municipal securities dealer, to a customer in an amount below the minimum denomination of the issue."