DD Support Board and Research Team

[scion]

14. Between January 2013 and July 2016, Defendants entered into 57 other debt
purchase agreements via which they acquired more than $1.1 million in aged debt convertible
securities from 38 other microcap issuers. Defendants converted the securities into more than
8.9 billion shares of microcap stock, more than 7.4 billion of which they sold into the market,
reaping a gain of $1,474,901.63.
..

B. Defendants Violated the Federal Securities Laws by Acting as Unregistered
Dealers.
15. Any person engaged in the business of buying and selling securities for such
person’s own account (through a broker or otherwise) must register with the Securities and
Exchange Commission.
...
https://www.sec.gov/litigation/complaints/2017/comp23992.pdf


15 U.S. Code § 78o - Registration and regulation of brokers and dealers

Section 15(a)(1) of the Securities
Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78o(a)(1)

https://www.law.cornell.edu/uscode/text/15/78o#