SEC Issues Trading Suspension of Gepco Ltd.
On September 18, 2014, the Securities and Exchange Commission issued a temporary trading suspension of the securities of Gepco, Ltd securities due to concerns about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in Gepco’s common stock. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).
Gepco was formed on June 27, 2008 in the State of Nevada as Kensington Leasing, Ltd. Since its inception, Gepco had several failed business plans, minimal revenues and multiple name changes.
Its present business is to sell and broker high end rare investment grade diamonds obtained from wholesale diamond cutters.
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by Gepco.
Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to Gepco’s securities unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to Gepco’s securities until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720.
If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
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