Replies to post #850 on Tennessee Commerce Bancorp, Inc (fka TNCC)

[goarmy123]

According to this, TNCC is under INFORMAL ACTION!!!


Like bank regulators, if the SEC became concerned about a particular securities firm, it
could choose from a range of informal and formal enforcement actions.

Informal actions could
include issuing a “deficiency letter” identifying problems and requiring the securities firm to take
corrective action by a certain date. Formal enforcement actions, undertaken by the SEC’s
Division of Enforcement, could include civil proceedings before an administrative law judge; a
civil complaint filed in federal district court; civil fines; an order to suspend or remove personnel
from a firm or bar them from the brokerage industry; or a referral for criminal prosecution.
Common securities violations included selling unregistered securities, misrepresenting
information about a security, unfair dealing, price manipulation, and insider trading.81