Michael Kitces and client communication expert Carl Richards discuss the reasons advisors are so often skeptical of new investment opportunities, how they can communicate with clients as their views evolve, and how advisors who may have previously been too dismissive of a client’s interest in a new investment can rebuild […]
Author: Mark J. Astarita
SEC Awards $3.5 Million to Whistleblowers in Two Enforcement Actions
The Securities and Exchange Commission today announced awards totaling more than $3.5 million to three individuals in two separate enforcement proceedings. In the first order, the SEC awarded approximately $2 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. The whistleblower alerted SEC staff […]
SEC Issues Whistleblower Awards Totaling More Than $4 Million
The Securities and Exchange Commission announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the first order, the SEC awarded more than $2 million to a whistleblower who provided valuable information that resulted in SEC staff initiating an […]
SEC Awards Nearly $3 Million to Whistleblower
The Securities and Exchange Commission today announced an award of nearly $3 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. “The whistleblower alerted the SEC to previously unknown conduct and then provided substantial additional assistance, which conserved a considerable amount of SEC resources,” […]
SEC Charges Portfolio Manager with Using Forged Document to Offer Securities
Securities and Exchange Commission v. Thomas Nicholas Salzano, 2:21-cv-12189 (D.N.J. filed June 7, 2021) The Securities and Exchange Commission charged Thomas Nicholas Salzano, of Secaucus, New Jersey, with using a sham loan document containing a forged signature in a fraudulent attempt to entice a $150,000 investment in a real estate […]
SEC Obtains $7 Million Judgment and Bar for CEO and Board Chairman
Securities and Exchange Commission v. Suneet Singal, First Capital Real Estate Investments, LLC, First Capital Real Estate Advisors LP, and First Capital Real Estate Trust Inc., No. 19-cv-11452 (S.D.N.Y. filed December 13, 2019) On July 13, 2021, the United States District Court for the Southern District of New York entered […]
UBS Settles Charges Related to Investments in Complex Exchange-Traded Product
The Securities and Exchange Commission today filed a settled action against UBS Financial Services Inc. for compliance failures relating to sales of a volatility linked exchange-traded product (ETP). This is the sixth matter arising from the Enforcement Division’s ETP Initiative. As described in the SEC’s order, the ETP at issue […]
Amazon Ends Mandatory Arbitration – Consumer Benefit?
By now every Amazon customer is aware that Amazon has changed its terms of service to remove the pre-dispute arbitration agreement. Many consumer advocates are praising the move, but have they really analyzed the change? I have represented parties in over 600 securities arbitrations, and a handful of commercial arbitrations. […]
Computer Guru Gets SEC Asset Freeze
The SEC has very strong enforcement power over those who it believes violated, or are violating, the federal securities laws. Brent Kovar, who has had prior run-ins with the securities law, and his mom, were the subject of an emergency action, a temporary restraining order and asset freeze to halt […]
SEC Charges Three Individuals with Insider Trading
The Securities and Exchange Commission today charged three individuals with insider trading in advance of an announcement by Long Blockchain Company (formerly known as Long Island Iced Tea Co.) that it was going to “pivot” from its existing beverage… Read the Full Press Release Have a securities law question? Call Sallah […]
