Nov. 2, 2022 — The Securities and Exchange Commission today charged Jebara Igbara, the founder of Halal Capital LLC, in connection with a more than $8 million scheme that targeted investors from the New York metropolitan area’s Muslim community. According to the SEC’s complaint filed in federal court in Brooklyn, […]
Month: November 2022
SEC Seeks to Stop the Registration of Misleading Crypto Asset Offerings
The Securities and Exchange Commission today instituted administrative proceedings against American CryptoFed DAO LLC (American CryptoFed), a Wyoming-based organization, to determine whether a stop order should be issued to suspend the registration of… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544. […]
SEC Charges Unregistered Brokers that Facilitated more than $1.2 Billion in Primarily Penny Stock Trades
Nov. 17, 2022 — The Securities and Exchange Commission today charged Jeffrey K. Galvani, Stuart A. Jeffery, and two New York-based entities they controlled with operating as unregistered broker-dealers that facilitated more than $1.2 billion of securities trading, primarily in penny stocks. The SEC’s complaint alleges that Galvani and Jeffery […]
Creator of Global Crypto Ponzi Scheme Charged with $295 Million Fraud
Nov. 4, 2022 — The Securities and Exchange Commission today announced charges against Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault for their roles in Trade Coin Club, a fraudulent crypto Ponzi scheme that raised more than 82,000 bitcoin, valued at $295 million at the time, from […]
Keith E. Cassidy and Natasha Vij Greiner Appointed Deputy Directors of Division of Examinations
The Securities and Exchange Commission today named Keith E. Cassidy and Natasha Vij Greiner as Deputy Directors of the Division of Examinations. “Our examinations function plays an essential role as the eyes and ears on the ground for the Commission,”… Read the Full Press Release Have a securities law question? […]
SEC Announces Departure of Chief of Staff Prashant Yerramalli and Appointment of Amanda Fischer to the Role
The Securities and Exchange Commission today announced that Chief of Staff Prashant Yerramalli will leave the agency, effective Dec. 31, 2022. Amanda Fischer, currently Senior Counselor to Chair Gary Gensler, will be appointed Chief of Staff, effective… Read the Full Press Release Have a securities law question? Call New York […]
Why is the Powerball so Large?
I will admit, a billion dollar prize got my attention, and my friends and I have been buying tickets. But why is the big prize so big? CNN has a theory – its the FED! It actually makes sense. Keep in mind that no one takes the annuity payout; everyone […]
SEC Announces Enforcement Results for FY22
The Securities and Exchange Commission today announced that it filed 760 total enforcement actions in fiscal year 2022, a 9 percent increase over the prior year. These included 462 new, or “stand alone,” enforcement actions, a 6.5 percent increase over… Read the Full Press Release Have a securities law question? […]
SEC Charges S&P Global Ratings with Conflict of Interest Violations
The Securities and Exchange Commission today charged S&P Global Ratings, a nationally recognized statistical rating organization (NRSRO) registered with the Commission, with violating conflict of interest rules designed to prevent sales and marketing… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544. […]
Morgan Stanley Advisors Leaving Over New Account Restrictions
Morgan Stanley is increasing its account minimum requirements for international clients and is set to close or suspend thousands of domestic and offshore wealth management accounts as part of a due diligence review, according to Citywire. The firm informed staff on Tuesday morning that accounts with less than $5m currently […]