Stock Purse Trading LLC; Liston Associates, Inc.; Carole A. Liston

Litigation Release No. 26379 / Aug. 21, 2025 The Securities and Exchange Commission charged South Florida entities Stock Purse Trading LLC and Liston Associates, Inc., and their founder Carole A. Liston with conducting a fraudulent securities offering that raised at least $5.7 million from 200 investors nationwide. The SEC complaint alleges that Liston promised exorbitant monthly returns based on her purported stock trading strategy, misappropriated investor funds for personal benefit, and used investor funds to make Ponzi-like distributions. The charges include violations of the Securities Act of 1933, Securities Exchange Act of 1934, and Investment Advisers Act of 1940. The partial settlements require SPT and Liston to be permanently enjoined from future violations, with monetary remedies to be determined by the court. The investigation was conducted by the SEC's Miami Regional Office, highlighting the importance of compliance in the securities industry.