Enforcement

Small Business Forum Announcement
Compliance Enforcement

Twenty-Six Firms to Pay More Than $390 Million Combined to Settle SEC’s Charges for Widespread Recordkeeping Failures

On August 14, 2024 the SEC announced settlements with  26 broker-dealers, investment advisers, and dual registrants for failures in maintaining and preserving electronic communications. Mark Astarita, a securities defense attorney with Sallah Astarita & Cox, LLC, commented, “We have been telling firms for over a year to review their policies […]

Enforcement

Ideanomics and Three Executives Settle SEC Charges

SEC Cracks Down on Ideanomics and Executives for Fraudulent Activities The SEC has settled fraud charges against Ideanomics, Inc., its former Chairman and CEO Zheng (Bruno) Wu, and current CEO Alfred Poor, for misleading the public about the company’s financial performance between 2017 and 2019.   Key Highlights: Misleading revenue […]

Cryptocurrency Enforcement

SEC Charges Nader Al-Naji with Fraud and Unregistered Offering of Crypto Asset Securities

Unveiling the Allegations: Fraudulent Crypto Scheme The Securities and Exchange Commission (SEC) has charged Nader Al-Naji with orchestrating a multi-million-dollar fraudulent crypto asset scheme involving a social media platform named BitClout and its native token, BTCLT. Raising Funds Through Deception Starting in November 2020, Al-Naji raised over $257 million through […]