October 14, 2016 BY Valentina Kirilova
Company to pay penalty for stock picking game that was an unregistered swap
The Securities and Exchange Commission (SEC) has announced that a New York-based company has agreed to pay a $50,000 penalty for illegally offering complex derivatives products to retail investors through mobile phone games that were described as “fantasy sports for stocks.” An SEC investigation has found that Forcerank LLC failed to file a registration statement for…
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