A Minnesota federal judge won't let brokerage firm Carebourn Capital LP escape a U.S. Securities and Exchange Commission suit alleging it raked in profits while skirting regulations, saying the SEC's complaint makes its case for why the company was required to register as a dealer with the agency.
The U.S. Securities and Exchange Commission has alleged that a securities trader operating out of his suburban Minnesota home pulled in millions in brokerage fees and penny stock issuances without ever registering as a broker.