On September 2, 2009, the Securities Exchange Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions (Order) against Ronald E. Hardy, Jr. The Order finds that Hardy was a registered representative associated with Aura Financial Services, Inc. (Aura), a broker-dealer registered with the Commission, from June 20, 2007, through Aug. 10, 2009. Additionally, the Order finds that on Aug. 10, 2009, a final judgment was entered by consent against Ronald Hardy, permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 (Securities Act) and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in the civil action entitled SEC v. Aura Financial Services, Inc., et al., Civil Action Number 09-CIV-21592, in the United States District Court for the Southern District of Florida. The complaint in that civil action alleged that from January 2008 through April 2009, Hardy made unauthorized trades in, and “churned” the accounts of, multiple Aura clients by engaging in excessive trading to generate commissions for himself rather than in the clients’ interests. Hardy consented without admitting or denying the findings in the Order, except for the entry of the injunction, which he admitted. (Rel. 34-60615; File No. 3-13608).
According to Ronald Hardy’s FINRA Broker Report, this SEC announcement is not the first time that Hardy has been named in a securities fraud claim. He has also been in at least 8 customer disputes and has been investigated by FINRA.
If you have questions about investments you made with Ronald Hardy or Aura Financial Services, or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. To speak to a securities attorney, please call our Chicago office at 312-238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
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