Defendant Name: Hilltop Securities Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 34-92370-s

Document Details

Legal Case Name In the Matter of Hilltop Securities Inc. and Daniel C. Tracy
Document Name SEC Charges Hilltop Securities and Trader for Misconduct in Municipal Offerings
Document Date 09-Jul-2021
Document Format Administrative Proceeding
File Number 3-20389
Allegation Type Municipal Securities & Public Pensions
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Monetary Penalties:

Disgorgement

Individual:     $206,606.00 Shared:    

Civil Penalty

Individual:     $85,000.00 Shared:    

Pre-Judgment Interest

Individual:     $48,587.00 Shared:    

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."

Other Defendants in Action:

Daniel C. Tracy