{"id":10795,"date":"2022-09-07T10:01:17","date_gmt":"2022-09-07T14:01:17","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10795"},"modified":"2022-09-07T10:01:17","modified_gmt":"2022-09-07T14:01:17","slug":"aegis-capital-reaches-agreement-with-sec","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/aegis-capital-reaches-agreement-with-sec\/","title":{"rendered":"Aegis Capital Reaches Agreement With SEC"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-6045 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec-300x198.jpg\" alt=\"Aegis Capital Corporation (CRD#15007) has reached an agreement with the US Securities and Exchange Commission (SEC) regarding the recommendations and sales of a complex and risky investment called variable interest rate structured products, or VRSP. The SEC filed a cease-and-desist order on July 28, 2022. In response, Aegis submitted an offer of settlement.  The action is the result of Aegis representatives making highly unsuitable recommendations to customers in two of their branch offices: Melville, NY, and Boca Raton, Fl. In both cases, the company\u2019s supervisory procedures were not properly followed in relation to these recommendations to retail customers as well as material misstatements and omissions. Institutional customers were not affected.  VRSPs  These high-risk, illiquid investments are known as \u201cprincipal at risk\u201d investments because investors may or may not lose their principal. They have 15-year maturity periods and are not traded on any public market. Investors may have to keep them the entire 15-year period, since they are unlikely to be able to sell them on a secondary market.\" width=\"300\" height=\"198\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec-300x198.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec-768x507.jpg 768w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec-182x120.jpg 182w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec.jpg 923w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Aegis Capital Corporation (CRD#<a href=\"https:\/\/brokercheck.finra.org\/firm\/summary\/15007\" target=\"_blank\">15007<\/a>) has reached an agreement with the US Securities and Exchange Commission (SEC) regarding the recommendations and sales of a complex and risky investment called <strong>variable interest rate structured products<\/strong>, or VRSP. The SEC filed a cease-and-desist order on July 28, 2022. In response, Aegis submitted an offer of settlement. <a href=\"https:\/\/www.silverlaw.com\/blog\/aegis-capital-reaches-agreement-with-sec\/#more-10795\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aegis Capital Corporation (CRD#15007) has reached an agreement with the US Securities and Exchange Commission (SEC) regarding the recommendations and sales of a complex and risky investment called variable interest rate structured products, or VRSP. The SEC filed a cease-and-desist order on July 28, 2022. In response, Aegis submitted an offer of settlement. Continue reading [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[588,583],"tags":[],"class_list":["post-10795","post","type-post","status-publish","format-standard","hentry","category-finra-arbitration","category-sec-actions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Aegis Capital Reaches Agreement With SEC &#8212;<\/title>\n<meta name=\"description\" content=\"Aegis Capital Corporation has reached an agreement with the SEC regarding the recommendations and sales of VRSPs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/aegis-capital-reaches-agreement-with-sec\/\" \/>\n<meta name=\"twitter:card\" 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VRSPs.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/aegis-capital-reaches-agreement-with-sec\/","twitter_card":"summary_large_image","twitter_title":"Aegis Capital Reaches Agreement With SEC &#8212;","twitter_description":"Aegis Capital Corporation has reached an agreement with the SEC regarding the recommendations and sales of VRSPs.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/aegis-capital-reaches-agreement-with-sec\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/aegis-capital-reaches-agreement-with-sec\/"},"author":{"name":"Silver Law 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