What is a securities dealer? The answer is more complicated than people might think. On June 2, 2023, the SEC announced that it had reached a settlement with a Long Island firm, Crown Bridge Partners, LLC (‘Crown Bridge’) and the two brothers who owned the firm Soheil and Sepas Ahdoot, for failing to register as a dealer. As part of the settlement, the Defendants agree to pay disgorgement and prejudgment interest of $8,390,601.27 and a civil penalty of $810,307, and to a five-year penny stock bar.
SEC Charges Convertible Note Dealer With Failure To Register
