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Two local stock touts hit by securities commission
Wrote articles for SeekingAlpha.com claiming no payment
San Diegan Craig Keolanui and El Cajon resident Ciaran Thornton have been spanked by the Securities and Exchange Commission for violating anti-fraud and anti-touting provisions of federal securities laws.
Both published articles on investment websites without disclosing that they were paid for the stock recommendations. The securities commission gave them cease-and-desist orders, and in both cases they have settled with the agency.
Keolanui specifically stated falsely that he was "not receiving compensation" for an article submitted to SeekingAlpha.com, a reputable publisher of stock advice which expressly prohibited compensated articles, according to the agency.
Thornton also falsely said he was not receiving compensation when submitting an article to SeekingAlpha.com.
Both submitted articles to Lidingo Holdings, a now-shuttered Nevada publisher of stock recommendations that has also been charged with misconduct by the agency.
Here's something you might be interested in.
Two local stock touts hit by securities commission
Wrote articles for SeekingAlpha.com claiming no payment
Two local stock touts hit by securities commission
Wrote articles for SeekingAlpha.com claiming no payment
San Diegan Craig Keolanui and El Cajon resident Ciaran Thornton have been spanked by the Securities and Exchange Commission for violating anti-fraud and anti-touting provisions of federal securities laws.
Both published articles on investment websites without disclosing that they were paid for the stock recommendations. The securities commission gave them cease-and-desist orders, and in both cases they have settled with the agency.
Keolanui specifically stated falsely that he was "not receiving compensation" for an article submitted to SeekingAlpha.com, a reputable publisher of stock advice which expressly prohibited compensated articles, according to the agency.
Thornton also falsely said he was not receiving compensation when submitting an article to SeekingAlpha.com.
Both submitted articles to Lidingo Holdings, a now-shuttered Nevada publisher of stock recommendations that has also been charged with misconduct by the agency.
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