Represented Bill Yancey, former CEO of Penson Financial, against charges of failure to supervise two employees regarding compliance with Rule 204 of Regulation SHO. The SEC’s Division of Enforcement sought to bar Mr. Yancey from working in the securities industry, and sought to impose disgorgement of more than $300,000 and a penalty. The administrative law judge found in favor of Mr. Yancey on all charges and dismissed the case against him.
In the Matter of Thomas R. Delaney II and Charles W. Yancey (AP File No. 3-15973)
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