Clare Matter: "UNREGISTERED BROKER" OMG!!!!!!!!!!!
Post# of 41413
Posted On: 04/29/2016 10:31:59 AM
Clare Matter: "UNREGISTERED BROKER" OMG!!!!!!!!!!!!!!!!!!!!
Violations
32. As a result of the conduct described above, Clare willfully violated Exchange Act Section 15(a), which makes it illegal for a broker or dealer to make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce or attempt to induce the purchase or sale of, any security unless the broker is registered with the Commission or associated with a registered broker-dealer .
https://www.sec.gov/litigation/admin/2016/34-77373.pdf
https://www.sec.gov/litigation/apdocuments/ap-3-17172.xml
Unregistered broker: In the Matter of Barry B. Clare, Adm. Proc. File No. 3-17172 (March 15, 2016) charges Mr. Clare, the vice president of finance for Baltia Airlines, Inc., with acting as an unregistered broker. Baltia is a start-up airline seeking certification. The firm has raised about $26 million selling its unregistered shares. Mr. Clare has solicited investors to purchase the shares. The Order alleges violations of Exchange Act Section 15(a). The proceeding will be set for hearing.
(5th Item down):
http://www.secactions.com/this-week-in-securi...h-18-2016/
Baltia Air Lines and Barry Clare Dispute SEC Charges
JAMAICA, N.Y., March 17, 2016 /PRNewswire/ -- Baltia Air Lines, Inc. (BLTA) announced today that it is greatly disappointed with the SEC's decision to file an order against our Executive Vice President and Director Barry Clare after fully cooperating with the SEC investigation. Mr. Clare has worked tirelessly for our company and on behalf of our loyal shareholders to bring our business plan to fruition. We continue to make progress and will fight on regardless of these charges. We do not believe that Barry Clare has violated any laws, rules or regulations. We intend to defend and support Mr. Clare against the SEC charges vigorously in a public hearing. We are grateful for Mr. Clare's service without which Baltia would not have been able to continue its operations.
https://finance.yahoo.com/news/baltia-air-lin...00045.html
So, in plain English, the SEC is charging Barry Clare with acting as an unregistered broker. He (allegedly) did not properly register as a broker-dealer.
Oh My God, Oh My God, Oh MY God !!!!!!!!!!!!!!! GASP !!!!!!!!! Horror !!!!!!!!
Not to belittle the SEC. I respect what they do. I agree any broker should be properly registered. But, OMG, OMG what are we to do? OMG Investors everywhere lock up your women and children!!! An (allegedly) unregistered broker!!!!!!!!!! OMG!!!!
Get a grip everybody.
BLTA
Violations
32. As a result of the conduct described above, Clare willfully violated Exchange Act Section 15(a), which makes it illegal for a broker or dealer to make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce or attempt to induce the purchase or sale of, any security unless the broker is registered with the Commission or associated with a registered broker-dealer .
https://www.sec.gov/litigation/admin/2016/34-77373.pdf
https://www.sec.gov/litigation/apdocuments/ap-3-17172.xml
Unregistered broker: In the Matter of Barry B. Clare, Adm. Proc. File No. 3-17172 (March 15, 2016) charges Mr. Clare, the vice president of finance for Baltia Airlines, Inc., with acting as an unregistered broker. Baltia is a start-up airline seeking certification. The firm has raised about $26 million selling its unregistered shares. Mr. Clare has solicited investors to purchase the shares. The Order alleges violations of Exchange Act Section 15(a). The proceeding will be set for hearing.
(5th Item down):
http://www.secactions.com/this-week-in-securi...h-18-2016/
Baltia Air Lines and Barry Clare Dispute SEC Charges
JAMAICA, N.Y., March 17, 2016 /PRNewswire/ -- Baltia Air Lines, Inc. (BLTA) announced today that it is greatly disappointed with the SEC's decision to file an order against our Executive Vice President and Director Barry Clare after fully cooperating with the SEC investigation. Mr. Clare has worked tirelessly for our company and on behalf of our loyal shareholders to bring our business plan to fruition. We continue to make progress and will fight on regardless of these charges. We do not believe that Barry Clare has violated any laws, rules or regulations. We intend to defend and support Mr. Clare against the SEC charges vigorously in a public hearing. We are grateful for Mr. Clare's service without which Baltia would not have been able to continue its operations.
https://finance.yahoo.com/news/baltia-air-lin...00045.html
So, in plain English, the SEC is charging Barry Clare with acting as an unregistered broker. He (allegedly) did not properly register as a broker-dealer.
Oh My God, Oh My God, Oh MY God !!!!!!!!!!!!!!! GASP !!!!!!!!! Horror !!!!!!!!
Not to belittle the SEC. I respect what they do. I agree any broker should be properly registered. But, OMG, OMG what are we to do? OMG Investors everywhere lock up your women and children!!! An (allegedly) unregistered broker!!!!!!!!!! OMG!!!!
Get a grip everybody.
BLTA
(15)
(1)Baltia Air Lines Inc (BLTA) Stock Research Links
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