Investing
SEC Nabs 4 Indian Brokerage Firms Violating U.S. Registration Requirements
Published:
Last Updated:
The four firms and fines came to more than $1.8 million and were, without having to admit or deny any of the charges, as follows:
Allegations and orders against these firms included sponsored conferences in the U.S., having employees travel regularly to meet with U.S. investors, trading securities of India-based issuers, and participating in securities offerings from Indian issuers to U.S. investors.
What makes this SEC action more unusual is that it is charging foreign firms. In the past, investors dealing with foreign firms were effectively out on their own and if problems arose it required involving international authorities.
It would seem likely that since India’s economy has seen its growth rates lower than the past that the losses in the Indian stock market may have had something to do with these charges. Each individual charge can be seen here.
JON C. OGG
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.