SEC v. John D. Fierro and JDF Capital, Inc.

John D. Fierro and JDF Capital, Inc. allegedly failed to register as securities dealers with the SEC, or to associate with a registered dealer, when they bought and sold billions of newly issued shares of penny stock from at least January 2015 through November 2017. According to the SEC, the Defendants obtained the shares directly from issuers after converting debt securities known as convertible notes. By failing to register, Defendants avoided certain regulatory obligations for dealers that govern their conduct in the marketplace, including regulatory inspections and oversight, financial responsibility requirements, and maintaining books and records.

Summary generated from official Securities and Exchange Commission press release