SEC
Whistleblower
Attorneys

May 16, 2018

Chardan Capital Markets LLC, Industrial and Commercial Bank of China Financial Services LLC, Jerard Basmagy

Trading and Pricing

SANCTION AMOUNT: $1875000

Defendants: Chardan Capital Markets LLC, Industrial and Commercial Bank of China Financial Services LLC
Jerard Basmagy

Two broker-dealers and an anti-money laundering officer settled charges of failing to report suspicious sales of billions of penny stock shares. Chardan was the introducing broker and ICBCFS cleared the trades.

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