Applications for Reentry
Penny Stock Bars
A person subject to a Commission bar from participating in any offering of a penny stock pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 may submit an application for consent to participate in offerings of penny stock. In evaluating an application for reentry from an administrative penny stock bar with a right to reapply, the Commission considers the following factors: (1) the applicant’s compliance with the order; (2) the applicant’s employment since the date of the order; (3) the proposed nature of the applicant’s participation in the offering of penny stocks; and (4) the identity of any broker, dealer, or issuer with whom the applicant will be engaged in activities for purposes of the issuance or trading of any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock. When evaluating whether to grant the application, the Commission determines whether the applicant has made a satisfactory showing that the proposed consent to participate in penny stock offerings is appropriate and not adverse to the public interest.
To begin an application, please email the staff at ENF-Reentry@sec.gov.
Related Resources:
Associational Bars
A person subject to a Commission bar from association with any investment adviser, broker, dealer, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 or Section 203(f) of the Investment Advisers Act of 1940 may submit an application for consent to associate with one or more such entities. An application should be made to the appropriate self-regulatory organization, or if there is none, to the Commission. Rule 193 of the Commission’s Rules of Practice sets forth the requirements and factors the Commission considers in evaluating an application for the Commission’s consent to associate with certain entities.
To begin an application to the Commission, please email the staff at ENF-Reentry@sec.gov.
Related Resources:
Last Reviewed or Updated: April 21, 2025