{"id":4444,"date":"2007-06-11T09:21:33","date_gmt":"2007-06-11T09:21:33","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/sec_says_it_has_no_jurisdictio"},"modified":"2022-03-25T14:23:04","modified_gmt":"2022-03-25T19:23:04","slug":"sec-says-it-has-no-jurisdictio","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-says-it-has-no-jurisdictio\/","title":{"rendered":"SEC Says It Has No Jurisdiction To Review NASD Action Against Sky Capital"},"content":{"rendered":"

The Securities and Exchange Commission says that it will not grant Sky Capital LLC’s request that the agency review the NASD’s action against the firm. The commission says it lacks the proper jurisdiction.<\/p>\n

Sky Capital became an NASD member in 2002 following initial denials by the NASD and appeals made to its National Adjudicatory Council. Sky Capital says staff members at the NASD used several delay tactics during the application process and were prejudiced against the firm’s CEO because he had problems in the past with both substance abuse and regulatory issues.<\/p>\n

Sky Capital also says that NASD got in the way of plans to acquire assets belonging to The Thornwater Company, LLP. It says that NASD did this by placing restrictions on Thornwater and then later lifting those restrictions. And while it approved another Sky Capital acquisition-this time of a broker-dealer in Florida-it did so only after a significant delay.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission says that it will not grant Sky Capital LLC’s request that the agency review the NASD’s action against the firm. The commission says it lacks the proper jurisdiction. Sky Capital became an NASD member in 2002 following initial denials by the NASD and appeals made to its National Adjudicatory Council. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3801],"tags":[],"class_list":["post-4444","post","type-post","status-publish","format-standard","hentry","category-sec"],"yoast_head":"\nSEC Says It Has No Jurisdiction To Review NASD Action Against Sky Capital — Investor Lawyers Blog — June 11, 2007<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission says that it will not grant Sky Capital LLC's request that the agency review the NASD's action against the firm. — June 11, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-says-it-has-no-jurisdictio\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" 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