ALJ Initial Decisions

Between January 31, 2026, and February 3, 2026, the Commission experienced a lapse in appropriations. In light of the lapse, the Commission issued an order staying certain administrative proceedings. On February 4, 2026, the Commission issued an order lifting the stay and extending dates in the proceedings previously subject to the stay.

Administrative Law Judges issued the following Initial Decisions pursuant to 5 U.S.C § 557 and 17 C.F.R. § 201.360(a).

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Date Sort descending	Respondents
Aug. 8, 2025	Epic Capital Wealth Advisors, LLC Release No. 1417 See Also: Order Instituting Administrative Proceedings Pursuant to Section 203(c)(2)(b) of the Investment Advisers Act of 1940 and Notice of Hearing File Number: 3-22307
July 23, 2025	Nano Magic Inc. Release No. 1416 See Also: Order Granting Petition to Terminate Trading Suspension File Number: 3-19787
May 17, 2023	American CryptoFed DAO LLC Release No. 1415 See Also: Order Fixing Time and Place of Public Hearings and Instituting Administrative Proceedings Pursuant to Section 8(d) of the Securities Act of 1933 File Number: 3-21243
March 20, 2023	Horter Investment Management, LLC and Drew K. Horter Release No. 1414 See Also: Order Instituting Proceedings, Release No. IA-5853; File Number: 3-20531
Dec. 6, 2022	Electropremium Release No. 1413 See Also: Order Instituting Proceedings File Number: 3-21032
Feb. 11, 2022	Life Science Holdings, Inc. Release No. 1412 See Also: Order Instituting Proceedings , Finality Order File Number: 3-20627
Sept. 21, 2021	Reynolds, Norman T., Esq. Release No. 1411 See Also: Order Instituting Proceedings, Release No. 34-90259 , Finality Order, Release No. 34-93457 File Number: 3-20136
Aug. 12, 2021	Rosedale Asset Management, LLC f/k/a Princeton Advisory Wealth Management, LLC Release No. 1410 See Also: Order Instituting Proceedings, Release No. IA-5680 , Finality Order, Release No. IA-5875 File Number: 3-20220
Aug. 2, 2021	Sweet, Brian, CPA Release No. 1409 See Also: Order Instituting Proceedings, Release No. 34-82557 , Finality Order, Release No. 34-93005 File Number: 3-18347
Feb. 11, 2021	Mosshart, Joshua D. Release No. 1408 See Also: Order Instituting Proceedings, Release No. 34-82998 , Finality Order, Release No. 34-91438 File Number: 3-18422
Feb. 8, 2021	Anton & Chia, LLP Wahl, Gregory A., CPA Deutchman, Michael, CPA Chung, Georgia, CPA Shek, Tommy, CPA Release No. 1407 See Also: Order Instituting Proceedings, Release No. 34-82206 File Number: 3-18292
Jan. 5, 2021	Crest Radius, Inc. 7 Kaapa Tsolgo, Estonia Release No. 1406 See Also: Order Instituting Proceedings, Release No. 33-10843 , Finality Order, Release No. 33-10928 File Number: 3-20021
Nov. 9, 2020	Sears, William J. Release No. 1405 See Also: Order Instituting Proceedings, Release No. 33-10212 , Finality Order, Release No. 33-10929 File Number: 3-17547
Oct. 29, 2020	Goulding, Randall, Esq. Release No. 1404 See Also: Order Instituting Proceedings, Release No. 34-88155 , Finality Order, Release No. 34-92075 File Number: 3-19697
Sept. 25, 2020	Feathers, Mark Release No. 1403 See Also: Order Instituting Proceedings, Release No. 34-71565 File Number: 3-15755
Sept. 2, 2020	Harris, Talman Release No. 1402 See Also: Release Nos. 34-80197 , and 34-80198 , Finality Order, Release No. 34-90881 File Number: 3-17874
Aug. 13, 2020	Bebo, Laurie Buono, John, CPA Release No. 1401 See Also: Order Instituting Proceedings, Release No. 34-73722 File Number: 3-16293
April 3, 2020	Ascension Asset Management, LLC Gooder, Grenville M., JR. Release No. 1400 See Also: Order Instituting Proceedings, Release No. IA-5121 , Finality Order, Release Nos. IC-34168, IA-5665 File Number: 3-19024
March 31, 2020	China Biopharma, Inc. China Linen Textile Industry, Ltd. China Water Group, Inc. Scout Exploration, Inc. Teryl Resources Corp. Release No. 1399 See Also: Order Instituting Proceedings, Release No. 34-80293 , Finality Order, Release No. 34-90892 File Number: 3-17886
March 24, 2020	Gibson, Christopher M. Release No. 1398 See Also: Order Instituting Proceedings, Release No. 34-77466 File Number: 3-17184
March 17, 2020	Starkot Corp. Release No. 1397 See Also: Order Instituting Proceedings, Release No. 33-10629 , Finality Order, Release No. 33-10917 File Number: 3-19146
Feb. 18, 2020	Finn, Sean P. M. Dwyer LLC Release No. 1396 See Also: Order Instituting Proceedings, Release No. 34-79367 , Finality Order, Release No. 34-90871 File Number: 3-17693
Jan. 28, 2020	Can-Cal Resources Ltd. China Fruits Corp. Skystar Bio-Pharmaceutical Co. Release No. 1395 See Also: Order Instituting Proceedings, Release No. 34-80892 , Finality Order, Release No. 34-90840 File Number: 3-18017
Jan. 10, 2020	Anderson, Traci J., CPA Carnahan, Timothy W. CYIOS Corporation Release No. 1394 See Also: Order Instituting Proceedings, Release No. 33-9725 File Number: 3-16386
Dec. 23, 2019	Graham, Jonathan Edward Release No. 1393 See Also: Order Instituting Proceedings, Release No. 33-10628 File Number: 3-19142
Dec. 20, 2019	Retirement Surety LLC Crescendo Financial LLC Rose, Thomas Leeman, David Featherstone, David Release No. 1392 See Also: Order Instituting Proceedings, Release No. 33-10386 , Finality Order, Release Nos. 34-90846, IA-5660, IC-34162 File Number: 3-18061
Dec. 5, 2019	Amundsen, Joseph S., CPA Remus, Michael T., CPA Remus Michael, CPA Release No. 1391 See Also: Order Instituting Proceedings, Release No. 34-85081 File Number: 3-18994
Nov. 12, 2019	Digital Brand Media & Marketing Group, Inc. Intellicell Biosciences, Inc. Release No. 1389 See Also: Order Instituting Proceedings, Release No. 34-80701 File Number: 3-17990
Nov. 12, 2019	Digital Brand Media & Marketing Group, Inc. Intellicell Biosciences, Inc. Release No. 1390 See Also: Order Instituting Proceedings, Release No. 34-80701 File Number: 3-17990
Oct. 22, 2019	Terracciano, Eugene Release No. 1388 See Also: Order Instituting Proceedings, Release No. 34-82958 , Finality Order, Release Nos. 34-90842, IA-5659, IC-34160 File Number: 3-18414
Oct. 16, 2019	Daspin, Edward M. (a/k/a "Edward (Ed) Michael") Agostini, Luigi Lux, Lawrence R. Release No. 1387 File Number: 3-16509
Sept. 16, 2019	Bruton, Karen, CPA Hope Advisors, LLC Release No. 1386 See Also: Order Instituting Proceedings, Release No. 34-84198 , Finality Order, Release Nos. IA-5419, AAER-4109 File Number: 3-18789
Aug. 26, 2019	Saving2Retire, LLC Young, Marian P. Release No. 1384 See Also: Order Instituting Proceedings, Release No. IA-4457 File Number: 3-17352
Aug. 26, 2019	Baker, Robert L. Herrera, Jacob B. Bowen, Michael D. Ballard, Terrence A. Release No. 1385 See Also: Order Instituting Proceedings, Release No. 33-10264 , Finality Order, Release No. 34-87675 File Number: 3-17716
Aug. 23, 2019	Angel Oak Capital Partners, LLC Peraza Capital and Investment, LLC Prabhu, Sreeniwas Wells, David W. Release No. 1383 See Also: Order Instituting Proceedings, Release No. 34-80053 , Finality Order, Release No. 34-87630 File Number: 3-17849
July 30, 2019	Fox, Joseph J. Release No. 1382 See Also: Order Instituting Proceedings, Release No. 33-9908 , Finality Order, Release No. 34-87683 File Number: 3-16795
June 28, 2019	Harris, Talman Release No. 1380 See Also: Release Nos. 34-80197 File Number: 3-17874
June 28, 2019	Harris, Talman Release No. 1381 See Also: and 34-80198 , Finality Order, Release No. 34-87162 File Number: 3-17874
June 5, 2019	Snisky, Gary C. Release No. 1379 See Also: Order Instituting Proceedings, Release No. 34-79169 , Finality Order, Release No. 34-86968 File Number: 3-17645
May 30, 2019	Angela Rubbo Beckcom Monaco Release No. 1378 See Also: Order Instituting Proceedings, Release No. 34-83234 , Finality Order, Release No. 34-86843 File Number: 3-18481
May 28, 2019	BioCoral, Inc. GC China Turbine Corp. Race World International, Inc. Worldwide Biotech & Pharmaceutical Co. Release No. 1377, 34-75204, 34-86846 See Also: Order Instituting Proceedings, Release No. 34-75204 , Finality Order, Release No. 34-86846 File Number: 3-16604
May 9, 2019	Halek, Jason A. Release No. 1376 See Also: Order Instituting Proceedings, Release No. 34-83394 , Finality Order, Release No. 34-86786 File Number: 3-18534
May 8, 2019	Finn, Sean P. M. Dwyer LLC Release No. 1375 See Also: Order Instituting Proceedings, Release No. 34-79367 File Number: 3-17693
April 22, 2019	Zufelt, Anthony C. Release No. 1374 See Also: Order Instituting Proceedings, Release No. 34-80402 , Finality Order, Release No. 34-86482 File Number: 3-17907
April 15, 2019	Feng, Hui Law Offices of Feng & Associates, P.C. Release No. 1373 See Also: Order Instituting Proceedings, Release No. 34-81711 , Finality Order, Release No. 34-86478 File Number: 3-18209
April 10, 2019	Gainer, Jeffrey Release No. 1372 See Also: Order Instituting Proceedings, Release No. 34-81461 , Finality Order, Release No. 34-86366 File Number: 3-18130
April 5, 2019	Herman, Rosalind Release No. 1371 See Also: Order Instituting Proceedings, Release No. IA-4643 , Finality Order, Release No. IA-5297 File Number: 3-17828
March 25, 2019	Reyftmann, Gregory Release No. 1370 See Also: Order Instituting Proceedings, Release No. 34-80568 , Finality Order, Release No. 34-86245 File Number: 3-17959
March 18, 2019	CellCyte Genetics Corp. China Pediatric Pharmaceuticals, Inc. Hawker Energy, Inc. Release No. 1368 See Also: Order Instituting Proceedings, Release No. 34-81489 , Finality Order, Release No. 34-86243 File Number: 3-18141
March 18, 2019	Neman, Shervin Neman Financial, Inc. Release No. 1369 See Also: Order Instituting Proceedings, Release No. IA-4575 , Finality Order, Release No. IA-5257 File Number: 3-17699
March 15, 2019	Reyes, Gerardo E. Release No. 1367 See Also: Order Instituting Proceedings, Release No. 34-81458 , Finality Order, Release No. 34-86114 File Number: 3-18126
March 12, 2019	Changda International Holdings, Inc. Release No. 1366 See Also: Order Instituting Proceedings, Release No. 34-76785 , Finality Order, Release No. 34-86090 File Number: 3-17029
March 12, 2019	Infrastructure International, Inc. Release No. 1365 See Also: Order Instituting Proceedings, Release No. 34-77227 , Finality Order, Release No. 34-86088 File Number: 3-17132
March 8, 2019	Fern Holdings Corp. Fortune Capital Financial Holding Corp. Gaming Entertainment International, Inc. Global Food Technologies, Inc. Release No. 1364 See Also: Order Instituting Proceedings, Release No. 34-83373 , Finality Order, Release No. 34-86056 File Number: 3-18530
March 7, 2019	Bluforest, Inc. Release No. 1363 See Also: Order Instituting Proceedings, Release No. 34-78891 , Finality Order, Release No. 34-86057 File Number: 3-17558
March 5, 2019	African Copper Corp. Genmed Holding Corp. Yanglin Soybean, Inc. Release No. 1361 See Also: Order Instituting Proceedings, Release No. 34-76476 , Finality Order, Release No. 34-86058 File Number: 3-16965
March 5, 2019	Smith, Jeffrey D. Carswell, Joseph Fullard, Michael W. Release No. 1362 See Also: Order Instituting Proceedings, Release No. 34-81983 , Finality Order, Release No. 34-86059 File Number: 3-18271
March 4, 2019	Lee, Christopher M., aka Rashid K. Khalfani Release No. 1360 See Also: Order Instituting Proceedings, Release No. IA-4898 , Finality Order, Release No. IA-5246 File Number: 3-18454
Feb. 26, 2019	Biovest International, Inc. Olie Inc. (n/k/a Syndicate Business Development Corp.) Stargate Entertainment, Inc. Three Sigma Ventures, Inc. Release No. 1359 See Also: Order Instituting Proceedings, Release No. 34-80493 File Number: 3-17935
Feb. 22, 2019	Penn, Lawrence E., III Release No. 1357 See Also: Order Instituting Proceedings, Release Nos. IA-4811, 34-78572, IA-4485, IC-32214 , Finality Order, Release No. IA-5240 File Number: 3-18288
Feb. 22, 2019	Hallas, Demitrios Release No. 1358 See Also: Order Instituting Proceedings, Release No. 34-81743 , Finality Order, Release No. 34-85926 File Number: 3-18229
Feb. 21, 2019	Oriental Dragon Corp. Release No. 1355 See Also: Order Instituting Proceedings, Release No. 34-83099 , Finality Order, Release No. 34-85815 File Number: 3-18450
Feb. 21, 2019	Icon Vapor, Inc. POWRtec International Corp. Silvergraph International, Inc. Walter Energy, Inc. (n/k/a New WEI. Inc.) Release No. 1356 See Also: Order Instituting Proceedings, Release No. 34-81712 , Finality Order, Release No. 34-85918 File Number: 3-18210
Feb. 15, 2019	Bohai Pharmaceuticals Group Inc. Release No. 1354 See Also: Order Instituting Proceedings, Release No. 34-81527 , Finality Order, Release No. 34-85818 File Number: 3-18151
Feb. 14, 2019	Meridian Co., Ltd. Release No. 1350 See Also: Order Instituting Proceedings, Release No. 34-81649 , Finality Order, Release No. 34-85809 File Number: 3-18188
Feb. 14, 2019	Capitol City Bancshares, Inc. Chang-On International, Inc. Computer Graphics International Inc. John D. Oil and Gas Company Legal Life Plans, Inc. Powder River Coal Corp. Release No. 1351 See Also: Order Instituting Proceedings, Release No. 34-78507 , Finality Order, Release No. 34-85805 File Number: 3-17366
Feb. 14, 2019	E-Waste Systems, Inc. Release No. 1352 See Also: Order Instituting Proceedings, Release No. 34-81375 , Finality Order, Release No. 34-85898 File Number: 3-18107
Feb. 14, 2019	China Domestica Bio-Technology Holdings, Inc. Release No. 1353 See Also: Order Instituting Proceedings, Release No. 34-76793 , Finality Order, Release No. 34-85816 File Number: 3-17031
Feb. 12, 2019	Bucci, William D. Release No. 1349 See Also: Order Instituting Proceedings, Release No. 34-80299 , Finality Order, Release No. 34-85894 File Number: 3-17888
Feb. 6, 2019	Stitt, Andrew Release No. 1348 See Also: Order Instituting Proceedings, Release No. 34-79067 , Finality Order, Release No. 34-85890 File Number: 3-17621
Feb. 5, 2019	Berger, Brian Michael Release No. 1346 See Also: Order Instituting Proceedings, Release No. 34-81460 , Finality Order, Release No. 34-85893 File Number: 3-18129
Feb. 5, 2019	GL Capital Partners, LLC Release No. 1347 See Also: Order Instituting Proceedings , Corrected Finality Order, Release No. IA-5238 File Number: 3-17818
Feb. 4, 2019	Vitale, Joseph Release No. 1345 See Also: Order Instituting Proceedings, Release No. 34-81875 , Finality Order, Release No. 34-85884 File Number: 3-18252
Dec. 21, 2018	Lawler, Joe Release No. 1340 See Also: Order Instituting Proceedings, Release No. 34-79186 , Finality Order, Release No. 34-85792 File Number: 3-17650
Dec. 21, 2018	Next Galaxy Corp. Novamex Energy, Inc. Occidental Development Group, Inc. Sable Natural Resources Corporation. Release No. 1341 See Also: Order Instituting Proceedings, Release No. 34-81726 , Finality Order, Release No. 34-85787 File Number: 3-18219
Dec. 21, 2018	Solo International, Inc. Urban Hydroponics, Inc. Your Event, Inc. Release No. 1342 See Also: Order Instituting Proceedings, Release No. 34-83312 , Finality Order, Release No. 34-85784 File Number: 3-18500
Dec. 21, 2018	Ibex Advanced Mortgage Technology, Inc. Release No. 1343 See Also: Order Instituting Proceedings, Release No. 34-81026 , Finality Order, Release No. 34-85786 File Number: 3-18047
Dec. 21, 2018	ANV Security Group, Inc. Release No. 1344 See Also: Order Instituting Proceedings, Release No. 34-81607 , Finality Order, Release No. 34-85785 File Number: 3-18176
Dec. 20, 2018	Addington, Bryan Lee Release No. 1339 See Also: Order Instituting Proceedings, Release No. 34-83459 , Finality Order, Release No. 34-85801 File Number: 3-18545
Dec. 19, 2018	Play La Inc. Titan Trading Analytics, Inc. Release No. 1338 See Also: Order Instituting Proceedings, Release No. 34-83281 , Finality Order, Release No. 34-85769 File Number: 3-18492
Dec. 18, 2018	China Greenstar Corporation Cortronix Biomedical Advancement Technologies, Inc. HW Holdings, Inc. Microelectronics Technology Company Release No. 1335 See Also: Order Instituting Proceedings, Release No. 34-81300 , Finality Order, Release No. 34-85733 File Number: 3-18097
Dec. 18, 2018	Neurologix, Inc. Organic Alliance, Inc. Zinco do Brasil, Inc. Release No. 1336 See Also: Order Instituting Proceedings, Release No. 34-81625 , Finality Order, Release No. 34-85735 File Number: 3-18180
Dec. 18, 2018	Penny Auction Solutions, Inc. Sebring Software, Inc. Studio II Brands, Inc. Release No. 1337 See Also: Order Instituting Proceedings, Release No. 34-81690 , Finality Order, Release No. 34-85736 File Number: 3-18202
Dec. 14, 2018	KollagenX Corp. Microlin Bio, Inc. Vaccinogen, Inc. Virtus Oil and Gas Corp. Release No. 1334 See Also: Order Instituting Proceedings, Release No. 34-81706 , Finality Order, Release No. 34-85720 File Number: 3-18207
Dec. 13, 2018	COPsync, Inc. Falconridge Oil Technologies Corp. FLASR, Inc. Fonon Corp. Release No. 1332 See Also: Order Instituting Proceedings, Release No. 34-83297 , Finality Order, Release No. 34-85718 File Number: 3-18496
Dec. 13, 2018	GO EZ Corporation Green St. Energy, Inc. Hyperview Ltd. Imogo Mobile Technologies Corp. Release No. 1333 See Also: Order Instituting Proceedings, Release No. 34-81694 , Finality Order, Release No. 34-85719 File Number: 3-18204
Dec. 12, 2018	Universal Bioenergy, Inc. Release No. 1331 See Also: Order Instituting Proceedings, Release No. 34-83135 , Finality Order, Release No. 34-85708 File Number: 3-18461
Dec. 11, 2018	Alcorn, David Release No. 1328 See Also: Order Instituting Proceedings, Release No. 34-83130 , Finality Order, Release No. 34-85706 File Number: 3-18460
Dec. 11, 2018	Hall Tees, Inc. Hosokawa Micron International, Inc. James River Coal Company Napa Sonoma Group Inc. (f/k/a Andes 1, Inc.) Self Change Corporation Release No. 1329 See Also: Order Instituting Proceedings, Release No. 34-81536 , Finality Order, Release No. 34-85712 File Number: 3-18155
Dec. 11, 2018	New Western Energy Corp. Preferred Restaurant Brands, Inc. Primco Management, Inc. Release No. 1330 See Also: Order Instituting Proceedings, Release No. 34-80846 File Number: 3-18007
Dec. 10, 2018	BioPharma Manufacturing Solutions Inc. CLTC Ventures Corporation (n/k/a Dreamfly Productions Corporation) Crane Global Energy Company DCA Asset Management, Inc. Release No. 1327 See Also: Order Instituting Proceedings, Release No. 34-81524 , Finality Order, Release No. 34-85680 File Number: 3-18148
Dec. 7, 2018	China Hefeng Rescue Equipment, Inc. Greenworld Development, Inc. Mountain National Bancshares, Inc. UCP Holdings, Inc. Release No. 1326 See Also: Order Instituting Proceedings, Release No. 34-81618 , Finality Order, Release No. 34-85679 File Number: 3-18179
Dec. 6, 2018	Tintic Gold Mining Company Release No. 1324 See Also: Order Instituting Proceedings, Release No. 34-81540 , Finality Order, Release No. 34-85677 File Number: 3-18157
Dec. 6, 2018	Grey Fox Holdings Corp. (f/k/a Gray Fox Petroleum Corp.) Green Innovations Ltd. Red Giant Entertainment, Inc. Release No. 1325 See Also: Order Instituting Proceedings, Release No. 34-83232 , Finality Order, Release No. 34-85675 File Number: 3-18480
Nov. 30, 2018	Infinity Real Estate Holdings Corporation International Industrial Enterprise, Inc. Scor International Foods, Inc. Xhibit Corp. Release No. 1323 See Also: Order Instituting Proceedings, Release No. 34-81723 , Finality Order, Release No. 34-85661 File Number: 3-18217
Nov. 30, 2018	dELiA*s Inc. Global Energy, Inc. Release No. 1322 See Also: Order Instituting Proceedings, Release No. 34-80981 , Finality Order, Release No. 34-85659 File Number: 3-18037
Nov. 29, 2018	CNK Global Inc. (a/k/a American Life Holding Co. Inc.) Release No. 1320 See Also: Order Instituting Proceedings, Release No. 34-81237 , Finality Order, Release No. 34-85645 File Number: 3-18082
Nov. 29, 2018	IMK GROUP, INC. Mobilebits Holdings Corporation National Energy Services, Inc. Power of the Dream Ventures Inc. Release No. 1321 See Also: Order Instituting Proceedings, Release No. 34-81692 , Finality Order, Release No. 34-85648 File Number: 3-18203
Nov. 28, 2018	China Du Kang Co., Ltd. Release No. 1317 See Also: Order Instituting Proceedings, Release No. 34-81356 , Finality Order, Release No. 34-85619 File Number: 3-18106
Nov. 28, 2018	Creator Capital Ltd. Release No. 1318 See Also: Order Instituting Proceedings, Release No. 34-81656 , Finality Order, Release No. 34-85621 File Number: 3-18189

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ALJ Initial Decisions

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ALJ Initial Decisions