SEC Charges Texas Resident with Acting as an Unregistered Broker

May 19, 2023/US SEC

The Securities and Exchange Commission announced charges against Daniel E. Levin, from Dallas-Fort Worth, with acting as an unregistered broker-dealer.

According to the SEC’s complaint filed on May 9, 2023, Levin solicited investors to purchase approximately $2.6 million worth of units in a fund he controlled, the CRP Fund, which in turn owned units in funds run by GPB Capital. Levin allegedly violated the requirements of the broker-dealer registration provisions by soliciting those funds from at least 27 investors from 2017 through 2018, without being registered. The complaint further alleges that Levin was required to register with the SEC and maintain a brokerage license, which he failed to do.

The complaint, filed in the Northern District of Texas, charges Levin with violating Section 15(a) of the Securities and Exchange Act of 1934. Levin, without admitting or denying the allegations, consented to a bifurcated settlement, agreeing to be permanently enjoined from violations of the charged provision, with monetary relief in an amount to be determined by the court at a later date upon motion of the SEC. The settlement is subject to court approval.

The SEC’s investigation was conducted by Shannon Keyes and Lindsay S. Moilanen of the SEC’s New York Regional Office, and was supervised by Sheldon L. Pollock. The litigation will be led by Ms. Keyes and David Stoelting.

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