I've already stated it is my opinion. I am not a lawyer, nor do I play one on TV.
I will further state that my opinion is based only on my reading of the Final Judgement signed by Majistrate Judge Samuel Alba in case 2:11-cv-00526-SA as posted by dj_ponder on this message board.
Yes, I believe Wilf can be involved with selling bonds and potentially limited partnerships depending on their terms and structure. I also believe he can participate in the purchase/sale of stock provided it does not qualify as a penny stock per SEC rule 3a51-1 (including DPBE in the unlikely event it achieves such status).
As previously stated, I believe this because the judgement specifically uses the term "penny stock" and then procedes to define the term "penny stock" in a manner that cannot rationally be construed to include bonds, etc.... Had they intended for a broader scope, I beleive it would have been clarified in their definition, or they would have used broader terms such as "security", "financial instrument", etc....
Again, all this is only my opinion.