SEC v. Marc J. Toomey (unregistered distributions, 2024)

Settled

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In 2024 the SEC settled an administrative order against Marc J. Toomey for selling unregistered Heartland oil and gas securities, with $186,580 disgorgement, $26,086 interest and a $50,000 penalty.

The record

What was ordered

Civil penalty

$50k

Disgorgement

$187k

Prejudgment interest

$26.1k

Total relief

$263k

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

On December 9, 2024 the SEC accepted a settlement with Marc J. Toomey. The order finds he sold Heartland Group securities between April 2020 and December 2021, raising about $6.9 million, violating Securities Act Sections 5(a) and 5(c) and acting as an unregistered broker. He is ordered to pay $186,580 in disgorgement, $26,086 in interest and a $50,000 penalty. The record previously showed only the penalty.

This library tags the matter as unregistered distributions, based on the conduct the document describes. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

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.

• Unregistered distributions — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2024-12-09 Administrative proceeding instituted (cease-and-desist)

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.

Related actions

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

Record added September 10, 2026. submit a correction.