Radio host Ray Lucia settles with SEC but war over ALJ removals wears on
June 17, 2020
After eight years of litigation with the Securities and Exchange Commission, including a successful U.S. Supreme Court challenge to the appointment process for SEC administrative law judges, the onetime “Buckets of Money” radio host Raymond Lucia has reached a settlement with the commission. The deal announced Tuesday requires Lucia to pay a penalty of $25,000 and to be barred from working as an investment advisor, although the settlement permits him to apply for reinstatement immediately.