Actions against Defendants, two firms and 18 individuals, for alleged municipal bond fraud. According to the SEC, Defendants purchased municipal bonds, frequently posing as retail investors to gain priority in allocations of new issue municipal bonds, and resold the bonds to broker-dealers for a fee. The SEC alleges that Defendants concealed this activity from issuers and underwriters. Seventeen Defendants, including the Defendant firms, have agreed to pay unspecified amounts in disgorgement, interest, and civil penalties and to industry bars or suspensions. The remaining three Defendants are contesting the allegations.
Home > Enforcement Action > SEC v. Core Performance Management, LLC, et al. (S.D. Fla. Aug. 14, 2018, Settled) and SEC v. RMR Asset Management Company, et al. (N.D. Cal. Aug. 14, 2018, Partially Settled, Partially Contested)