SEC Charges Windsor Street Capital and John D. Telfer
The SEC is charging Windsor Street Capital (formerly Meyers Associates), and John D. Telfer with securities violations regarding the unregistered sale of “hundreds of millions” of penny stock shares without adequate due diligence, according to a press announcement.
According to the SEC, Windsor Street Capital and anti-money laundering officer Telfer allegedly failed to file suspicious activity reports, as is required by the SEC, for at least $24.8 million in suspicious penny-stock sale transactions from June 2013 to the present.
Over that time period, the firm allegedly earned at least $493,000 in commissions and fees from the transactions, according to the SEC.
According to his FINRA Broker Check, Telfer was registered with Meyers Associates in New York, NY from 09/03/2013 – 09/16/2016. Telfer appears to have nine disclosures listed on his BrokerCheck report.
Telfer held the position of AML officer with Meyer Associates from November 2013 through September 2016 and was responsible for monitoring transactions. By allegedly failing in compliance he “aided and abetted” the misconduct, according to the SEC.
Regulation of Brokerage Firms
Brokerage firms are required to adequately supervise their agents. They must ensure they are complying with FINRA rules. The firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
If you suffered losses investing with John D. Telfer and Windsor Street Capital, the attorneys at The White Law Group may be able to help. For a free consultation, please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.