An unregistered Bahamas-based broker-dealer and its owner, a former government informant, allegedly marketed their business to U.S. day traders as a way to avoid certain pattern regulations, the SEC told a federal court in Florida.
Guy Gentile and MintBroker International Ltd., doing business as SureTrader, failed to comply with broker-dealer registration requirements as they helped their customers “circumvent” pattern day trading rules, according to tje Securities and Exchange Commission complaint filed in the U.S. District Court for the Southern District of Florida.
Gentile and SureTrader made millions of dollars in commissions on U.S.-based customers’ trades, the complaint says. By not ...
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