SEC v. Andrew M. Komarow (free riding and parking, 2024)

Settled

✓ Checked against the primary document on October 3, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

Report an error in this record (sec-andrew-m-komarow-free-riding-and-parking-2024) by email

In February 2024 the SEC barred Andrew Komarow, a former registered representative, from association with any broker, dealer or adviser and from penny-stock offerings, as a follow-on to a December 2023 injunction over his free-riding scheme that left brokerages with over $3 million of losses.

The record

What was ordered

Civil penalty

—

Disgorgement

—

Prejudgment interest

—

Total relief

—

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission instituted and settled this administrative proceeding on February 20, 2024 (Exchange Act release 99560), without admission or denial except as to the findings about the court judgment.

The order finds that Komarow was a registered representative of a broker-dealer and an investment adviser from 2016 to 2022 and that on December 20, 2023 a Connecticut federal court entered a consent judgment enjoining him from violating Section 10(b) and Rule 10b-5. The complaint had alleged that from October 2022 to January 2023 he made unfunded ACH transfers totalling $6.9 million to broker-dealer accounts and traded on the resulting credits before the transfers were cancelled, removing funds from two accounts and leaving the firms with losses over $3 million.

He was barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent or rating organization and from penny-stock offerings. No money was ordered. This library tags the matter as free riding.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Free riding and parking — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2024-02-20 Administrative proceeding instituted (findings)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.