The respondent, Claudio Fernando Maya, contested the extension of a temporary order prohibiting him from trading in securities.
Staff alleged that the respondent engaged in trading activity without being registered, failed to conduct due diligence, and unjustifiably relied on the representations of others.
The Commission found that the respondent did not provide satisfactory information to justify not extending the temporary order, balancing the public interest and the seriousness of the allegations against the respondent's submissions.
The temporary order was extended to September 30, 2009.
