COR Clearing

COR Clearing, LLC Agrees to Exit Penny Stock Deposit Business

COR Clearing (“COR”) is a registered broker-dealer headquartered in Omaha, Nebraska. COR primarily earns it revenues from clearing and settlement of securities for the customers of approximately 80 introducing broker-dealers. Some of COR’s current and former introducing broker-dealers include:

• Windsor Street Capital LP
• Joseph Stone Capital
• Alexander Capital LP
• Network 1 Financial Securities, Inc.
• Worden Capital Management, LLC
• Newbridge Securities Corp.
• Titan Securities
• Aegis Capital Corp.

According to the SEC Order, in 2016, COR was the second largest brokerage firm in terms of the dollar amount of shares deposited with a price of $1 per share or less at the Depository Trust and Clearing Corp.

According to the SEC Order, COR’s low-priced security frequency alert at times failed to generate all the alerts it was supposed to generate. Moreover, at times, COR’s AML software lacked a process or procedure for monitoring suspicious conduct with respect to trades in low-priced securities made by introducing firms customers across several securities or within certain date ranges.

Our attorneys are investigating activities relating to low-priced securities including improper sales practices, excessive trading and churning. Investors may be able to recover their losses through securities arbitration.

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