NYSE Hits Hilliard Lyons With $1M Fine

Law360 (June 11, 2007, 12:00 AM EDT) -- NYSE Regulation Inc. said Monday that it had fined investment firm J.J.B. Hilliard, W.L. Lyons Inc. $1 million for allegedly selling unregistered securities through a private placement that didn't qualify for an exemption.

The firm, known as Hilliard Lyons, was also cited for offering documents that contained material misrepresentations and omissions of fact, and for supervisory and record-keeping violations. In addition to the $1 million fine, it will be forced to pay up to $3.6 million in restitution to its customers, and it must now notify the NYSE of its supervisory systems and controls if it ever re-enters the private placement...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!