{"id":72592,"date":"2020-01-20T01:22:05","date_gmt":"2020-01-20T06:22:05","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=72592"},"modified":"2020-01-21T22:24:52","modified_gmt":"2020-01-22T03:24:52","slug":"sec-charges-individual-with-acting-as-an-unregistered-broker","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2020\/sec-charges-individual-with-acting-as-an-unregistered-broker.html","title":{"rendered":"SEC Charges Individual with Acting as an Unregistered Broker"},"content":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission has charged Allan L. Lundervold with selling nearly $9 million in unregistered securities without being registered as or associated with a registered broker-dealer.<\/p>\n<p>According to the SEC&#8217;s complaint, from 2012 through 2015, Lundervold, who currently resides in Arizona, raised nearly $9 million for ARP Wave, LLC, through selling unregistered ARP Wave securities to more than 100 investors in Minnesota and elsewhere. As alleged in the complaint, he was not registered as a broker-dealer or associated with a registered broker-dealer when selling these securities, as required by the federal securities laws. For his fundraising efforts, Lundervold received a 10% commission on the amount of funds raised, for a total of nearly $900,000.<\/p>\n<p>The SEC&#8217;s complaint, filed in federal court in Minnesota, charges Lundervold with violating the broker-dealer registration provisions of Section 15(a)(1) of the Securities Exchange Act of 1934. The SEC seeks a permanent injunction, disgorgement of ill-gotten gains with prejudgment interest, and a civil penalty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission has charged Allan L. Lundervold with selling nearly $9 million in unregistered securities without being registered as or associated with a registered broker-dealer. According to the SEC&#8217;s complaint, from 2012 through 2015, Lundervold, who [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-72592","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/72592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=72592"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/72592\/revisions"}],"predecessor-version":[{"id":72593,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/72592\/revisions\/72593"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=72592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=72592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=72592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}