Trump Pick’s Company Fined $7M Over Securities Laws

CNBC reports:

The Securities and Exchange Commission on Thursday charged global financial services firm Cantor Fitzgerald with violating laws related to regulatory disclosures by so-called blank-check companies before they raise money from the public.

Cantor’s chairman and CEO, Howard Lutnick, was recently nominated by President-elect Donald Trump to lead the Commerce Department. Lutnick is co-chair of Trump’s transition team.

Cantor agreed to settle the SEC’s charges by agreeing to pay a $6.75 million civil penalty and agreeing to not violate the securities laws at issue in the case.

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