Split 11th Circ. Rules Against SEC On Penny-Stock Ban

By Jessica Corso (February 14, 2024, 10:07 PM EST) -- A "toxic lender" will have to disgorge nearly $1 million in profits made after he ran afoul of U.S. Securities and Exchange Commission rules on trading in penny-stock debt, but his behavior was not egregious enough to warrant a permanent ban from penny-stock markets, a divided Eleventh Circuit ruled Wednesday....

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