|Secretary of State William Galvin says Cohmad Securities failed to provide information.|
Galvin seeks to have Cohmad Securities barred
Cohmad Securities Corp., facing the loss of its Massachusetts securities registration because of ties to Bernard Madoff, will argue its case at a state hearing.
A spokesman for Secretary of State William Galvin said Cohmad's lawyer and a Massachusetts securities division representative will present their cases to a hearing officer today.
He said a decision in the case could come in the next two weeks.
Galvin wants regulators to revoke Cohmad's registration for failing to provide information about its relationship with Madoff, who was a co-owner. Cohmad has said the state's request is too vague.
Madoff pleaded guilty this month to charges that he swindled thousands of people out of billions of dollars in a Ponzi scheme.