Oyster Bay notified of possible civil enforcement by SEC – New York News

Harendra Singh, leaves federal court in Central Islip after a hearing on Monday, Oct. 5, 2015. (Credit: James Carbone)


The U.S. Securities and Exchange Commission has notified Oyster Bay officials that it could seek monetary penalties against the town over how it reported disputed loan guarantees to the financial markets.

SEC staff notified the town last month that they would recommend to agency commissioners that a civil enforcement action be brought for alleged “misstatements and omissions” about the loan…

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