We haven't heard the term "boiler room" in years, but the SEC dusted off the term this week when it announced that it had filed a complaint alleging that a group in Los Angeles were operating a boiler room that defrauded investors who they persuaded to buy purportedly profitable trading systems.The SEC alleges that representatives of Spyglass Equity Systems Inc. cold-called investors and made false and misleading statements to help raise more than $2.15 million from… [read post]