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The Harriman Group, Inc. a.k.a, HGI, Inc.

The Harriman Group, Inc. a.k.a, HGI, Inc. (CRD #14079, Jericho, New York) was fined $12,300,000. In addition, the firm was expelled from membership in the NASD. The sanctions were based on findings that the firm failed to disclose to its customers(via prospectus delivery or otherwise) certain material information relating to secondary public offerings and distributions of common stock. The regulators also determined that the firm failed to file specific documents and information pertaining to the conditions, terms and arrangements of the firm's participation as an underwriter and received undisclosed and excessive underwriting compensation in connection with the firm's participation as an underwriter in secondary public offerings and distributions of common stock. Additionally, the firm failed to deliver to investors prospectuses that contained all of the information set forth in the registration agreement and delivered to investors stock offered in public offerings without the accompaniment of post-effective amended or supplemented prospectuses. Lastly, the firm failed to establish, maintain, and enforce written procedures to supervise the firm's corporate financing and underwriting activities that were adequately designed to achieve compliance with applicable securities laws, regulations and NASD rules. The firm accepted the fine but did not admit or deny the accusations.(NASD Case #C10970189)

Did The Harriman Group, Inc. a.k.a, HGI, Inc. manage your investments?

 

 

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