Great post by Alan Wolper on the duties of an RIA to monitor its customer’s accounts, even when there is no trading, and no activity in those accounts. Not true for the traditional broker, and an important distinction for investment advisors to remember. SEC Settlement Proves That It’s Easy Enough […]
Other News
Sec Charges Three Canadian Citizens in Fraudulent Penny Stock Scheme
The Securities and Exchange Commission today announced it charged three Canadian citizens with carrying out a fraudulent scheme involving penny stocks which generated tens of millions of dollars in proceeds but left investors with nearly worthless shares… Read the Full Press Release Have a securities law question? Call New York […]
Report From SEC Small Business Advocate Details Capital Raising During Past Year
The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation today issued its 2021 Annual Report that details how entrepreneurs and investors are building companies together from startups to small public companies… Read the Full Press Release Have a securities law question? Call New York Securities […]
Advisor Hub: U5 Defamation Wins Stack Up, But Tables Have Not Turned to Brokers’ Advantage, Lawyers Say
U-5 defamation has been an issue for brokers since I began practicing law, and not much has changed to address the issue – except for U-5 filings to become absolutely privileged in New York. I have had some successes negotiating U-5 language before the U-5 is filed, to stop a […]
SEC Issues Whistleblower Nearly $5 Million Award
The SEC has announced an award of nearly $5 million to a whistleblower who provided critical information and assistance that led to the success of a covered action. The whistleblower’s information helped the SEC to more quickly and efficiently bring an action that returned millions of dollars to harmed investors. […]
Self Directed IRA for Prescious Metals?
From time to time we get questions about self-directed IRAs and what products they can invest in. Mat Sorensen, an attorney, author, and self-directed IRA guru recently answered part of the question. Can a self-directed IRA hold precious metals, stored at the owner’s home? A recent Tax Court case, […]
SEC Charges Dialysis Provider and Three Former Senior Executives with Revenue Manipulation Scheme
The Securities and Exchange Commission today charged American Renal Associates Holdings, Inc. (ARA), a provider of dialysis services through clinics across the country, with engaging in a revenue manipulation scheme that resulted in the restatement of… Read the Full Press Release Have a securities law question? Call New York Securities […]
SEC Charges Latvian Citizen With Digital Asset Fraud
The Securities and Exchange Commission today charged a Latvian citizen with defrauding hundreds of retail investors out of at least $7 million through two separate fraudulent digital asset securities offerings. According to the civil complaint, filed in U.S. District Court for the Eastern District of New York, Ivars Auzins defrauded […]
Tipping Inside Information Leads to Civil and Criminal Charges
When you are in possession of insider information, not only can you not trade on it, you cannot tell others about the information. If you do, and they trade on it, you can be liable for their trades. The CFO of Immunomedics is learning that lesson the hard way. According […]
SEC Adopts Amendments to Finalize Rules Relating to the Holding Foreign Companies Accountable Act
The Securities and Exchange Commission today adopted amendments to finalize rules implementing the submission and disclosure requirements in the Holding Foreign Companies Accountable Act (HFCAA). The rules apply to registrants the SEC identifies as… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at […]
