Pasquill was ordered to pay a $15 million administrative penalty to the commission, and to resign any position he holds as an officer of a director of an issuer or registrant. The panel ordered that Pasquill be permanently banned from trading in securities, purchasing securities or exchange contracts, and from becoming or acting as a director or officer of any issuer or registrant. He is also permanently prohibited from becoming or acting as a registrant or promoter, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.