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US SEC charges Israeli firm for unregistered security-based swap transactions

( October 23, 2020, 17:07 GMT | Official Statement) -- MLex Summary: The US Securities and Exchange Commission charged Israeli company Tradenet Capital Markets for offering and selling security-based swaps to more than 5,000 retail investors without registration and for failing to transact its swaps on a registered national exchange. Tradenet consented to a cease-and-desist order and agreed to pay a penalty of $130,000. “Companies seeking to sell U.S. retail investors synthetic exposure to stocks must ensure compliance with the federal securities laws,” said Daniel Michael, head of the SEC's complex financial instruments unit.Statement follows below:...

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