Compliance Other

Prime Bank Fraud Action by SEC

Another Prime Bank Fraud Action Commenced by SEC December 20, 2000. The SEC announced today that it filed an action against Phillip Ezell, a resident of Fort Wayne, Indiana, for offering fictitious “prime bank” instruments over the Internet from March 1998 to August 2000. The Commission alleges that Ezell, doing […]

Corp Finance Other

GAO Report on Blue Sky Revenue Released

Blue Sky Filings Become a Cash Cow By John M. Baker, Esq. Blue sky filings are quite the cash cow, according to a recent General Accounting Office report. Expenditures and Revenues of State Securities Regulatory Agencies, No. GAO/GGD-00-189R (Aug. 15, 2000). For example, in 1999 the 46 jurisdictions reporting usable […]