The Securities and Exchange Commission is seeking candidates for appointment to the Investor Advisory Committee to help protect investors and improve securities regulations. The committee was established under the Dodd-Frank Wall Street Reform and… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544. […]
Other News
Earnings season is here
From CNN: https://www.cnn.com/2022/01/14/investing/premarket-stocks-trading/index.html Tech stocks have been plunging as Wall Street obsesses over the Federal Reserve’s next moves and how aggressively it will hike borrowing costs over the next 12 months to rein in inflation. But attention could soon shift elsewhere as corporate earnings season arrives, delivering a distraction from the economy […]
How Many FINRA Enforcement Lawyers Does It Take To Prosecute A Default Case?
Bill Singer posts about the overkill by FINRA Enforcement in obtaining a default order against an 89 year old registered representative who had been out of the business for 17 months. No one disputes FINRA’s need to sanction those who do not make timely disclosures on their CRD filings, but […]
SEC Issues Awards Totaling More Than $4 Million to Two Whistleblowers
The Securities and Exchange Commission today announced two awards totaling more than $4 million to whistleblowers who provided information and assistance in two separate covered actions. In the first order, the SEC issued an award of approximately $2.6… Read the Full Press Release Have a securities law question? Call New […]
SEC Awards Over $13 Million To Whistleblower
The Securities and Exchange Commission today announced an award of more than $13 million to a whistleblower whose information and assistance prompted the opening of an investigation and significantly contributed to the success of an SEC enforcement… Read the Full Press Release Have a securities law question? Call New York […]
SEC Charges ICO Issuer and Founder with Defrauding Investors
The Securities and Exchange Commission today announced charges against Australian citizen Craig Sproule and two companies he founded, Crowd Machine, Inc. and Metavine, Inc., for making materially false and misleading statements in connection with an unregistered offer and sale of digital asset securities. According to the SEC’s complaint, Sproule, who […]
SEC Charges Three Florida Residents in Multi-Million Dollar Insider Trading Scheme
The Securities and Exchange Commission announced charges against three Florida residents for trading in advance of market moving announcements involving DSW Inc., Rite Aid Corporation, and an attempt to acquire Aphria Inc., a Canadian cannabis-related business. According to the SEC’s complaint, David Schottenstein of Surfside, Fla. repeatedly obtained inside information […]
SEC Charges Additional Defendant in Phony Certificates of Deposit Scam
The Securities and Exchange Commission today charged Allen C. Giltman, a former registered investment professional, with allegedly participating in a long-running fraudulent scheme to lure investors into buying fictitious certificates of deposit (CDs).… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544. […]
Chair Gensler Announces Additions to Executive Staff
The Securities and Exchange Commission announced the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer, and Jorge Tenreiro to Chair Gary Gensler’s executive staff. “Corey, Phil, Jenny, and Jorge have exceptional experience,” said Chair Gensler. “I’ve already begun to rely on their valuable counsel on policy, enforcement, and agency operations, […]
SEC Charges Financial Company For Fraudulent Schemes to Boost Stock Price
The SEC has charged Medallion Financial Corp., a Delaware company headquartered in New York, NY, and its President and Chief Operating Officer, Andrew Murstein of New York, NY, with illegally engaging in two schemes in an effort to reverse the company’s plummeting stock price. According to the SEC’s complaint, Medallion’s […]
