March 27, 2015
Posted January 28, 2016
New York-based brokerage firm Macquarie Capital (USA) Inc., a wholly owned subsidiary of global financial services firm Macquarie Group Limited, agreed to pay $15 million to settle SEC charges for underwriting a public offering o Puda Coal despite obtaining a due diligence report indicating that the China-based company’s offering materials contained false information. Former Macquarie Capital managing director Aaron Black and former investment banker William Fang also agreed to pay $212,711 and $35,000, respectively, to settle charges they failed to exercise appropriate care in their due diligence review. SEC
Tagged in: Misrepresentations, Regulatory Violations, Securities Fraud,