Oak Hills Securities, Inc. He agreed to pay a fine of $ 125,000 as part of a settlement with the Financial Industry Regulatory Authority (Finra).
From September 2019 to June 2024, Oak Hills was the exclusive placement agent on seven private placements sold in better efforts and all-or-none or part-or-no base. In each bid, Oak Hills failed to terminate the offer and return the investors’ funds immediately after a reduction in the minimum emergency amounts, with a voluntary breach of Article 10 (b) of the 1934 and Article 10B-9 Mobile Exchange Act and in violation of the FINRA 2010 rule.
In six private placement bids between September 2019 and December 2020, Oak Hills failed to reduce investor funds in violation of the Law on Exchange § 15 (c) (2), the I5C2-4 rule from there and the Finra 2010 rule.
Finally, in two of the bids, from November 2019 to February 2021, Oak Hills failed to archive the required documents with Finra in violation of Finra 5123 and 2010.
In addition to a $ 125,000 fine, Oak Hills agreed to a accusation.
Oak Hills has been a member of Finra since 2008. Located in Oklahoma City of Oklahoma, he has six registered representatives and a branch. The company is conducting private -launch and investment banking companies, which sell mainly Oklahoma Investment Investment Programs.