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SELLING AN UNREGISTERED SECURITY, SELLING OF A SECURITY AND TRANSACTING BUSINESS IN A STATE WHERE IAR WAS NOT REGISTERED AS AN AGENT
Resolution
Consent
Sanctions
Civil and Administrative Penalty(ies)/Fine(s)
Amount
$1,750.00
Broker Comment
BASED ON THE INFORMATION PROVIDED BY THE ISSUER, MR. RIEDMILLER WAS LED TO BELIEVE THAT THE PROMISSORY NOTE WAS NOT A SECURITY; AS NOTED IN THE ORDER. THE ISSUER PROVIDED MR. RIEDMILLER WITH WRITTEN EVIDENCE OF THIS FACT AND ASSURED HIM OF THIS VERBALLY ON MULTIPLE OCCASIONS.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.