2nd Circ. Backs SEC Ban On Tax-Dodging Broker

Law360, New York (February 14, 2012, 5:31 PM EST) -- The Second Circuit on Tuesday backed a U.S. Securities and Exchange Commission decision that a principal with various brokerage firms had willfully failed to disclose more than $634,000 in tax liens, subjecting him to a statutory disqualification from the securities industry.

The SEC's decision in 2009 followed similar rulings against Scott Mathis by the Financial Industry Regulatory Authority. Mathis — onetime principal with The Boston Group LP and InvestPrivate Inc., a broker-dealer that he founded — had appealed FINRA's findings to the SEC.

A three-judge panel...
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