In the Matter of Gregory J. Smith, Respondent.     Gregory Smith, 69, a resident of Wintchester, CA, provides insurance and retirement planning services to clients in numerous states. He was a registered rep with broker-dealers through September 2007.

From December 2008 through September 2013, Smith solicited and induced at least 31 investors in 3 states to purchase approximately $3,8 million of promissory notes issued by the Rampart Fund LLP, and received about $385,000 in Commissions for his efforts. 

Problem was Smith was not registered as a B/D or associated with one, which was required for the offering and selling of securities in California.  Disciplinary hearings have not yet been held.

In the Matter of Ronald Morley and The New Wealth, LLC, Respondents.     Ronald Morley, 61, a resident of Westminster, MD, provides a variety of investment-related services to individuals through an entity that he owns and controls, The New Wealth. From April 2008 through February 2014, Morley and The New Wealth solicited and induced at least 130 investors in 9 states to purchase preferred stock offered by Summit Trust Company.  For their efforts, Respondents received $3.1 million in commissions. 

Problem was The New Wealth has never been registered with the Commission as a broker-dealer, a requirement for soliciting investors to purchase securities.  Morley agreed to pay $3.5 million in disgorgement and prejudgment interest, and agreed to be barred from the industry, to settle the SEC charges. 

[https://www.sec.gov/litigation/admin/2016/34-79208.pdf]