WASHINGTON — Former Southwest Securities Inc. banker John F. Kendrick has agreed to pay a civil penalty of $10,000 to settle Securities and Exchange Commission charges that he willfully violated, and caused the firm to violate, Rule G-37 by making significant political contributions to Massachusetts Treasurer Timothy Cahill.

The SEC announced the settlement yesterday, under which it also ordered Kendrick, a resident of Medfield, Mass., to cease and desist from any other further violations of the rule. The commission said the civil penalty was small because Kendrick provided a sworn statement of his financial condition and other evidence asserting his inability to pay more.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.