Trump Pick’s Company Fined $7M Over Securities Laws

CNBC reports:

The Securities and Exchange Commission on Thursday charged global financial services firm Cantor Fitzgerald with violating laws related to regulatory disclosures by so-called blank-check companies before they raise money from the public.

Cantor’s chairman and CEO, Howard Lutnick, was recently nominated by President-elect Donald Trump to lead the Commerce Department. Lutnick is co-chair of Trump’s transition team.

Cantor agreed to settle the SEC’s charges by agreeing to pay a $6.75 million civil penalty and agreeing to not violate the securities laws at issue in the case.

Read the full article.

SEC charges Cantor Fitzgerald, led by Trump’s Commerce pick, with breaking securities laws

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— Mike Walker (@newnarrative.bsky.social) December 12, 2024 at 10:07 PM