This no longer is about a box checked, it is about fraudulent opinion letters and the sale of unregistered securities, which the Commission takes seriously. My guess is all those who sold unregistered securities will get a C&D. No fine, no jail. But it will be on their record. So the next time they screw up, it adds time on the federal sentencing guidelines. As far as the Company, it depends on the value of the crime.
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