An investigation by the SEC found that Forcerank, where investors predict how 10 securities perform relative to each other, failed to file a registration statement for a security-based swap offering.
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SEC Imposes $50K Penalty on Forcerank
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Forcerank consented to the SEC’s order in violation of the relevant Securities and Securities Exchange Acts. The violations were identified by the SEC shortly after the offering process began, and Forcerank cooperated to quickly shut down the contests before any investor harm occurred, while paying a $50,000 penalty.
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