Law360 (April 2, 2018, 7:49 PM EDT) -- A Manhattan federal judge gave the U.S. Securities and Exchange Commission a partial victory in its suit against a brokerage firm that allegedly failed to file clear and timely Suspicious Activity Reports, ruling Friday that a sample of SARs the agency flagged were “woefully inadequate.”
Alpine Securities Corp., a Utah-based broker that clears trades involving securities that trade for a few cents or fractions of a penny, is said by the SEC to have omitted crucial information from thousands of SARs for years. Alpine said the...