Defendant Name:
The Bancorp, Inc.
Defendant Type:
Public Company
SIC Code:
6022
CUSIP:
05969A10
Document Reference:
34-95589
Document Details
Legal Case Name
In the Matter of The Bancorp, Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist-Order
Document Date
24-Aug-2022
Document Format
Administrative Proceeding
AAER
4323
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On August 24, 2022, the SEC instituted settled cease-and-desist proceedings against The Bancorp, Inc., stating: "This matter concerns violations of reporting, record-keeping, and internal accounting
controls provisions of the Exchange Act by Bancorp. Beginning in the first quarter of 2017 and
continuing through the first quarter of 2019 (“Relevant Period”), Bancorp made filings with the
Commission in which it reported gains that it received from the sales of loans included in five
commercial real estate securitizations (“CRE Transactions”)."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$1,750,000.00
Shared:
