SEC v. Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. allegedly failed to comply with municipal bond offering disclosure requirements. According to the SEC’s complaint, from June 2017 to April 2022, Oppenheimer sold securities in hundreds of municipal offerings in purported reliance on the limited offering exemption when it had not satisfied the exemption requirements. The complaint also alleged that Oppenheimer made deceptive statements to issuers by representing that it would and did comply with the exemption requirements, and that Oppenheimer lacked policies and procedures reasonably designed to ensure that it complied with the limited offering exemption when acting as underwriter in these municipal bond offerings.

Summary generated from official Securities and Exchange Commission press release