TAG | Gregory L Oldham
Comments off · Posted by admin in FINRA
On April 22, 2011 on the SEC’s website, it was announced that the Securities and Exchange Commission said, the Honorable Leonard D. Wexler of the United States District Court for the Eastern District of New York entered a final judgment on consent against Defendant Gregory L. Oldham, a former registered representative of Advanced Planning Securities, Inc., a former registered broker-dealer. The judgment (i) permanently enjoins Oldham from violating Section 5 of the Securities Act of 1933 and (ii) finds Oldham liable for disgorgement and prejudgment interest of $673,989, but waives payment of that amount and imposes no civil penalty based on Oldham’s sworn statement of financial condition and other documents. Oldham consented to the entry of the judgment without admitting or denying any of the allegations of the Commission’s complaint.
It was also announced in the SEC article that the Commission’s complaint, filed on October 22, 2009, alleged that from 2004 through 2006, Oldham violated the registration provisions of the securities laws by selling securities for which there was no registration statement in effect.
The complaint also alleges that Oldham sold securities to elderly, unsophisticated investors who could not have been expected to understand the risks associated with the investments.
The article adds that in addition to the relief described above, Oldham consented to the entry of an order in a separate Commission administrative proceeding barring him from association with any broker, dealer, or investment adviser with the right to reapply for association after eighteen months.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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