Defendant Name:
Capstone Capital Markets
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Huntington Bancshares, Inc.
SIC Code:
6020
CUSIP:
44615010
Document Reference:
34-99504
Document Details
Legal Case Name
In the Matter of The Huntington Investment Company, Huntington Securities, Inc., and Capstone Capital Markets LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
09-Feb-2024
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On February 9, 2024, the SEC instituted administrative and cease-and-desist proceedings against The Huntington Investment Company, Huntington Securities,
Inc. , and Capstone Capital Markets LLC, stating: "From at least January 2019, Huntington employees sent and received off-channel
communications that related to HIC’s, HSI’s and Capstone’s broker-dealer businesses and with
respect to HIC’s investment advisory business, off-channel communications related to
recommendations made or proposed to be made and advice given or proposed to be given.
Respondents did not maintain or preserve the substantial majority of these written
communications. Respondents’ failures were firm-wide and involved employees at various
levels of authority. As a result, Respondents violated Section 17(a) of the Exchange Act and
Rule 17a-4(b)(4) thereunder and HIC violated Section 204 of the Advisers Act and Rule 204-
2(a)(7) thereunder."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Civil Penalty
Individual:
Shared:
$1,250,000.00
Shared with: The Huntington Investment Company; Huntington Securities, Inc.
Other Defendants in Action: