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Mr. Amersey is the subject of an SEC order permanently enjoining him from being associated with any transfer agent, broker, dealer, investment adviser, municipal securities dealer, municipal advisor, or nationally recognized statistical rating organization as a result of the operations of Bay City Transfer Agency and Registrar, Inc. (“Bay City”). The SEC did not seek to bar Mr. Amersey from serving as an officer or director of a public company.
In the Initial Decision Release No. 1125, Administrative Proceeding File No. 3-17405, entered by the Court on April 20, 2017, the Court found that Amersey, as a control person of Bay City, willfully aided and abetted and caused Bay City’s violations of Exchange Act Section 17(a)(3), which requires a transfer agent to make and keep records and file reports prescribed as necessary and appropriate; Section 17A(d)(1), which prohibits a transfer agent from engaging in any activity that contravenes rules prescribed by the Commission; Rules 17Ac2-1 and 17Ac2-2, which require a transfer agent to file Forms TA-1 and TA-2; Rule 17Ad-4, which specifies the recordkeeping procedures required of an exempt transfer agent, such as Bay City; Rule 17Ad-12, which requires a transfer agent to take specific measures to safeguard any funds or securities in its possession; and Rule 17Ad-17, which requires specific bookkeeping measures by a transfer agent with respect to lost security holders. As a result, the Court ordered that:
(I)
Bay City Transfer Agency and Registrar, Inc., and Mr. Amersey, shall cease and desist from committing or causing violations, and any future violations, of Sections 17(a)(3) and 17A(d)(1) of the Securities Exchange Act of 1934 and Exchange Act Rules 17Ac2-1, 17Ac2-2, 17Ad-4, 17Ad-12, and 17Ad-17.
(II)
the transfer agent registration of Bay City Transfer Agency and Registrar, Inc., is revoked; and
(III)
Mr. Amersey is permanently barred from being associated with any transfer agent, broker, dealer, investment adviser, municipal securities dealer, municipal advisor, or nationally recognized statistical rating organization.
The Initial Decision became a final decision and was effective as of June 15, 2017.
