The Securities and Exchange Commission today announced settled charges against Murchinson Ltd.; its principal, Marc Bistricer; and its trader, Paul Zogala (the respondents), for providing erroneous order-marking information that caused executing brokers… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. The […]
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Penny Stock Company, CEO Charged with Multi-Million Dollar Fraud
The SEC announced it charged an issuer, its CEO, and six other entities and individuals with participating in a penny stock fraud scheme. The SEC also charged certain of the participants with operating as unregistered dealers, and obtained emergency relief to halt their ongoing conduct. According to the SEC’s complaint, […]
SEC Charges Pearson plc for Misleading Investors About Cyber Breach
The Securities and Exchange Commission today announced that Pearson plc, a London-based public company that provides educational publishing and other services to schools and universities, agreed to pay $1 million to settle charges that it misled… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Obtains Emergency Relief, Charges Two Florida Companies and their Principal Officer with Operating a Ponzi Scheme
The Securities and Exchange Commission today announced that it filed an emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop an alleged Ponzi scheme and misappropriation of investor… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Obtains Court Order to Stop Investment Adviser’s Alleged Ongoing Offering Fraud
The Securities and Exchange Commission today announced the filing of an emergency action against Martin A. Ruiz of New York, and two entities he controls, Carter Bain Wealth Management, LLC (Carter Bain) and RAM Fund, LP (RAM). Shortly after filing the… Read the Full Press Release Have a securities law […]
New Whistleblower Awards
The Securities and Exchange Commission announced awards of nearly $6 million to two whistleblowers who provided information and assistance in separate enforcement proceedings. In the first order, the SEC awarded more than $3.5 million to a whistleblower who reported valuable new information that caused the SEC to expand an existing […]
Poloniex Settles Charges for Operating Unregistered Digital Asset Exchange
Poloniex was a web-based trading platform for digital assets, some of which the SEC claimed were investment contracts, and therefore securities. The SEC also claimed that the trading platform was an exchange under the securities laws. The SEC filed charges which Poloniex settled. The order confirming the settlement finds that […]
SEC Charges International Microcap Fraud Scheme Participants
The Securities and Exchange Commission today announced an emergency action charging nine individuals, including a public company chairman, for their participation in long-running fraudulent schemes that collectively generated hundreds of millions of dollars from unlawful stock sales and caused significant harm to retail investors in the United States and around […]
Handling Clients Who Bring Their Own ‘Hot’ Investment Ideas
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 […]
Decentralized Finance Lender and Top Executives Consent to SEC Order for Raising $30 Million Through Fraudulent Offerings
The Securities and Exchange Commission today charged two Florida men and their Cayman Islands company for unregistered sales of more than $30 million of securities using smart contracts and so-called “decentralized finance” (DeFi) technology, and for misleading investors concerning the operations and profitability of their business DeFi Money Market. […]
