Replies to post #176920 on DD Support Board and Research Team

[janice shell]

There's something called the "trader exception". See the SEC's guide to broker-dealer registration:

https://www.sec.gov/reportspubs/investor-publications/divisionsmarketregbdguidehtm.html

So far, the SEC's brought five or six suits virtually identical to the one against Fife. The first of them, in which Ibrahim Almagarby is the defendant, is from 2017. About a month ago, the judge in the case granted a motion for summary judgment to the SEC.

That case should be wrapped up soon. It looks as if the SEC finally has an easy way to go after the toxic funders.

[nodummy]

I think the word 'business' is the key word.

There is a big difference between buying and selling shares on the open market as a trader for one's own account and buying shares directly from the public Issuer at a discount to the market price during the course of business as a financier.

I do believe that the SEC considers the amount of such transactions also when making their determination.

[OMOLIVES]

Ha..ha...good eye. Refer to the complaint:

"The SEC's complaint, filed in federal court in Illinois, charges the defendants with violating the dealer registration provisions of Section 15(a)(1) of the Securities Exchange Act of 1934"

Then look at the body of said complaint(NATURE OF THE ACTION):

https://www.sec.gov/litigation/complaints/2020/comp24886.pdf

Now refer to what is:

https://www.sec.gov/fast-answers/answersbdregishtm.html

There are many LP's there...but what is noted is that said individual(Fife)...controls such. The partners/investors of said Lp's et al...get off given control. Fife goes down.