Defendant Name:
National Financial Services LLC
Defendant Type:
Other
Document Reference:
33-10832
Document Details
Legal Case Name
In the Matter of National Financial Services LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933, Section 15(b) of the Securities Exchange Act of 1934, and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
03-Sep-2020
Document Format
Administrative Proceeding
Allegation Type
Securities Offering
Document Summary
On September 3. 2020 the SEC instituted settled administrative and cease-and-desist proceedings against National Financial Services LLC. The Commission stated: "This proceeding concerns failures by NFS, a registered broker-dealer and investment adviser, to satisfy its prospectus delivery obligations to investors in connection with public offerings of common stock for FuelCell Energy, Inc. ("FuelCell")."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Disgorgement
Individual:
$797,905.00
Shared:
Civil Penalty
Individual:
$1,500,000.00
Shared:
Pre-Judgment Interest
Individual:
$163,288.00
Shared:
Total Penalty
Individual:
$2,461,193.00
Shared:
