February 10, 2015
Posted January 28, 2016
Craig S. Lax, former CEO of a ConvergEx, agreed to pay more than $783,000 and admit wrongdoing to settle charges he participated in a scheme that caused his company’s customers to pay substantially higher amounts than the disclosed commissions for buying and selling securities. The company previously paid $107M and admitted wrongdoing to settle related charges. In settling the SEC’s charges, Lax also agreed to be barred from the securities industry for at least five years. SEC
Tagged in: Regulatory Violations, Securities Fraud,