In the Matter of Louis Capital Markets, LP Admin. Proc. File No. 3-17890

On March 29, 2017, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (“Order”) against Louis Capital Markets, LP (“Respondent”). In the Order, the Commission found that, from at least 2008 through October 2012, the Respondent violated federal securities laws by providing false prices to their customers, and secretly charging them markups or markdowns, in addition to the small commissions Respondent was charging them. The Commission ordered the Respondent to pay a $2,500,000.00 in disgorgement. The Commission ordered that such disgorgement be held pending a decision whether the Commission, in its discretion, will seek to distribute the funds, or transfer the funds to the U.S. Treasury.  See the Commission’s order: Release No. 34-80332. 

The Distribution Fund consists of the $2,500,000 collected from the Respondent, and has been deposited in a Commission-designated account at the U.S. Department of the Treasury.  Any accrued interest will be added to the Distribution Fund.

On May 28, 2025, the Commission issued an order appointing Miller Kaplan Arase LLP, as the Tax Administrator of the Fair Fund. See the Commission’s Order: Release No. 34-103133.

On May 28, 2025, the Commission issued an order appointing Rust Consulting as the Fund Administrator to oversee the administration and distribution of the Distribution Fund and, set the administrator’s bond amount. See the Commission’s Order: Release No. 34-103134.

For more information, please contact the Commission:

Office of Distributions
Email: ENFOfficeofDistributions@sec.gov