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Credit: Reuters/Eduardo Munoz By Sarah N. Lynch and Aruna Viswanatha WASHINGTON | Wed Mar 14, 2012 5:08pm EDT WASHINGTON (Reuters) - Securities regulators took enforcement action against an online trading platform and two private funds offering Facebook shares on Wednesday, the first action in a year-long probe into the lightly regulated world of private company-share trading. The Securities and Exchange Commission charged SharesPost, which matches buyers and sellers of private shares, and its CEO Greg Brogger with failing to register as a broker-dealer before offering the securities. The SEC also brought charges against two private funds and their managers for allegedly misleading investors about hidden fees in Facebook stock offerings. In a lawsuit filed in a federal court in San Francisco, the SEC alleges that Frank Mazzola and his firms, Felix Investments, and Facie Libre Management Associates, engaged in improper self-dealing and earned secret commissions. The SEC also separately filed similar charges in the agency's administrative court against Laurence Albukerk, and his firm EB Financial Group. Albukerk and the company settled the allegations without admitting or denying them, and agreed to pay a $100,000 fine and will return another $210,499 in allegedly illegal profits. SharesPost and its CEO Greg Brogger also agreed to settle the SEC charges without admitting or denying the allegations. The company will pay $80,000 in penalties while Brogger will pay $20,000. SharesPost, which eventually registered as a broker-dealer late last year, issued a statement on Wednesday saying it had complied with all of the SEC's requests during the probe, and that no customer has ever complained about its practices. The company said it has "concluded that it better serves its client by entering into this administrative settlement with the SEC, and believes its time, energy and resources are best spent continuing to build what has become the industry's largest, most active platform during a crucial phase of its growth." Attorneys for the other defendants did not immediately respond to requests for comment. (Reporting By Sarah N. Lynch and Aruna Viswanatha; editing by Andre Grenon; editing by Carol Bishopric) Tech Media Facebook Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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