The Securities and Exchange Commission has permanently barred the former chief compliance officer of a once-registered brokerage firm for her role in an alleged fraudulent unauthorized trading scheme.
Barbara Desiderio, the former president and chief compliance officer at Global Arena Capital Corp., agreed to the punishment as part of a settlement reached with the SEC on Aug. 11 and published Tuesday. Without admitting or denying the SEC’s findings, Desiderio will be barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization, in addition to a ban on participation in the offering of any penny stocks.
