SEC v. Wilson-Davis & Co., Inc. (2019)
Settled
Checked against the primary document on October 2, 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.
In 2019, the Securities and Exchange Commission published a release announcing a settlement of an AML reporting case against a broker-dealer. This library does not tag the matter with a manipulation technique. The release records a civil penalty of $300,000.
The record
| Agency | SEC |
|---|---|
| Release number | 34-85867 |
| Date filed | 2019-05-15 |
| Date resolved | 2019-05-15 |
| Status | settled |
| Asset class | equities |
| Criminal parallel | No |
| Defendants | Wilson-Davis & Co., Inc. |
| Also named elsewhere | Wilson-Davis & Company, Inc. |
| Techniques |
What was ordered
- Civil penalty
- $300k
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- $300k
- Alleged gain
- —
What is alleged to have happened
the Securities and Exchange Commission announced this matter on May 15, 2019 as release 34-85867. The respondents named are Wilson-Davis & Co., Inc. (0 individuals, 1 entity).
The order censures the broker-dealer for not filing suspicious activity reports and imposes a $300,000 penalty. The firm is not charged with promoting or manipulating, so the tags have been removed.
This library does not tag the matter with a manipulation technique, because the document does not describe one. The tagging is ours, not the regulator's.
The order finds an anti-money-laundering reporting failure: customers repeatedly deposited physical certificates, liquidated the shares and wired the proceeds out at once, which the firm's own procedures listed as a red flag, yet it did not investigate or report. The order says the transactions raised red flags of possible market manipulation or pump-and-dump activity, but the charge is the failure to report, not participation in such a scheme. This library carries no technique tag on this matter.
The conduct is recorded against equities.
The relief recorded in our data is a civil penalty of $300,000. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.
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.
Timeline
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.