Sanctions Against Broker-Dealers
The SEC may censure, suspend up to 12 months, or revoke the registration of any broker-dealer if it decides it is in the public interest and if the broker-dealer or any associated person has:
- • Made false or misleading statements in any application for registration before the SEC
- • Been convicted of a felony or misdemeanor within ten years of filing for registration involving:
- » The purchase or sale of a security with respect to securities
- » Taking a false oath or making a false report
- » Bribery, perjury, or burglary with respect to securities
- » Larceny, theft, extortion, forgery, or counterfeiting of securities
- • Been enjoined by any court from acting as an investment adviser, underwriter, broker-dealer, or nationally recognized statistical rating organization
- • Willfully violated any securities law
- • Willfully aided or abetted the violation of any securities law by any other person or failed to supervise a person under his employ with