Actions against Defendants, a municipal advisor and its principal, and Respondent, a broker-dealer, for alleged breach of fiduciary duty and violation of Municipal Securities Rulemaking Boards rules.  According to the SEC, Respondent negligently sold bonds below market value on behalf of a public library district, and Defendant failed to properly advise the library district regarding its engagement with Respondent and the pricing of the bonds.  Respondent has agreed to pay a civil penalty of $50,000.

SEC Complaint (Comer Capital)

SEC Order (IFS Securities)

SEC Litigation Release (Comer Capital)