Securities Liability for Tax Certification - Analysis of SEC Order regarding South Miami, Florida
This edition of the Hawkins Advisory analyzes the SEC’s recent South Miami enforcement action. This is an important SEC action because it found securities law liability for materially misleading tax certifications, even though such certifications were not provided to investors.
On May 22, 2013, the Securities and Exchange Commission (the “SEC”), in an administrative proceeding, accepted a settlement offer made by the City of South Miami, Florida (the “City”) and entered a cease-and-desist order (the “Order”) against the City. The SEC found that the City had acted in a negligent manner in violation of Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933 (the “Securities Act”). No enforcement action was taken against City officials.
Also of Interest
- Rule 15c2-12 Compliance Alert
This edition of the Hawkins Advisory is a compliance alert, supplementing the Hawkins Advisory regarding Rule 15c2-12 that is dated August 22, 2018.
- Hawkins Attorneys Featured at Bond Attorneys’ Workshop
Four Hawkins attorneys will serve on panels at the National Association of Bond Lawyers 43rd annual Bond Attorneys’ Workshop which will be held September 26-28, 2018 in Chicago.
- Rule 15c2-12 Amendments
This Hawkins Advisory analyzes the amendments to Rule 15c2-12 that were adopted by the SEC on August 20, 2018.
- Hawkins Attorneys Recognized In The Best Lawyers in America 2019 List
Hawkins is pleased to announce that six attorneys were named by their peers to the Best Lawyers in America 2019 list.