Monday, March 23, 2020 7:25:12 PM
ORDER APPOINTING
FUND ADMINISTRATOR
AND SETTING BOND
AMOUNT
https://www.sec.gov/litigation/admin/2020/34-88454.pdf
On November 10, 2016, the Commission issued an Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (“Order”) against EZTD Inc. (the “Respondent”). In the Order, the Commission found that between June 2001 and August 2014, the Respondent made offers and sales of binary options to U.S. customers through two online trading platforms, eztrader.com and globaloption.com. These binary options constituted securities under the federal securities laws. The Respondent, however, failed to register any of its offers and sales of binary options with the Commission and it failed to register with the Commission as a broker-dealer. The Commission ordered the Respondent to pay $1,773,549.00 in disgorgement, prejudgment interest, and a civil money penalty to the Commission. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty, along with the disgorgement and interest, can be distributed to harmed investors (the “Fair Fund”). The Fair Fund includes the $738,980.00 paid by the Respondent.
Any additional funds received from the Respondent pursuant to the Order will be added to the Fair Fund.
The Division of Enforcement now seeks the appointment of KCC, LLC (“KCC”) as the fund administrator and requests that the administrator’s bond be set at $738,980.00. KCC is included in the Commission’s approved pool of administrators.
Accordingly, IT IS HEREBY ORDERED that KCC is appointed as the fund
administrator, pursuant to Rule 1105(a) of the Commission’s Rules of Fair Fund and Disgorgement Plans (“Commission’s Rules”),2 and shall obtain a bond in accordance with Rule 1105(c) of the Commission’s Rules3
in the amount of $738,980.00.
For the Commission, by the Division of Enforcement, pursuant to delegated authority.
Vanessa A. Countryman
Secretary
To bite the worm of incite is to bite the HOOK of the antagonist . They win .
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