In the Matter of Paul George Chironis

SEC Release (Enforcement)

The SEC announced a settled administrative proceeding against a broker for his alleged fraud in churning the accounts of a charitable organization. The release alleges that the accounts paid approximately 10.8% of their market value in transaction fees over a 13 month period, caused by excessive trading and undisclosed and excessive markups and markdowns.

Document Number

SEC Release 33-9170, 34-63661, IC-29548

Date

January 6, 2011

Cross References (links may require a Cabinet subscription)

SEC PR 2011-2

Securities Act § 17(a)

Exchange Act § 10(b)

Exchange Act Rule 10b-5