FINRA Regulatory Notice 10-22 requires broker/dealers to conduct or obtain reasonable due diligence on companies whose securities they sell in private placement transactions through the Regulation D exemption. Coral Capital Partners looks at the penalties FINRA recently imposed upon broker/dealers and registered individuals for their failure to conduct reasonable due diligence in accordance with FINRA Regulatory Notice 10-22 on companies for which they are raising funds through a private placement offering.
Author: coralcapital
Erik Nelson is the co-founder and President of Coral Capital Partners, Inc. an Atlanta based consulting and advisory services firm. Coral Capital Partners was founded in 1995 and has been providing consulting services to both privately held and publicly traded companies since its inception. Mr. Nelson has served as an officer and director of numerous publicly traded companies in various capacities as part of the services provided by Coral Capital Partners to its clients. Mr. Nelson is a graduate of the University of Colorado.
SEC Launches Investigation of Alleged Stock Manipulation by PIPE Issuer Sun River Energy
The PIPE”s Report takes a look at the Securities Exchange Commission (SEC) investigation into Sun River Energy for potential securities fraud. The article also touches on some of the issues in Sun River Energy’s litigation with Nova Leasing, LLC.
Sun River Energy’s Auditor Resigns
Sun River Energy (SNRV), the PIPE issuer that is involved in multiple lawsuits to take back restricted stock from contractors and other investors, said its auditor LBB Associates Ltd.LP resigned on Dec. 21.