United States Securities & Exchange Commission v. Benger

MEMORANDUM OPINION AND ORDER

JEFFREY COLE, United States Magistrate Judge

The Securities Exchange Commission (“SEC”) requests the imposition of a permanent penny stock bar against defendant, Phillip Powers. In February of this year, Mr. Powers, without admitting or denying the allegations in Count I of the Complaint, agreed to the entry of a Final Judgment against him for having violated the-broker dealer registration requirements of the Securities Exchange Act, 15 U.S.C. § 78o(b). Under the terms of the Final Judgment, the court would later determine whether Mr. Powers should be permanently…