The SEC has proposed rescinding its 15-year-old rule that restricts investment advisers from doing paid work for government clients after making certain political donations.
Tag: Compliance
SEC and CFTC Jointly Propose Amendments to Reduce Private Fund Reporting Burdens
Washington D.C., April 20, 2026 — The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly proposed amendments to reduce private fund reporting burdens while enabling the continued collection of necessary and appropriate information. The agencies proposed to amend Form PF, the confidential reporting form for […]
Wells Fargo Settles with SEC for Charging Excessive Advisory Fees
The SEC has taken action against Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively referred to as Wells Fargo). The SEC has charged Wells Fargo for the excessive charging of over 10,900 investment advisory accounts, resulting in more than $26.8 million in undue advisory fees. […]
Message Board Poster Settles SEC Case
By Mark J. Astarita, Esq. The SEC announced that it had accepted an offer of settlement from a 15 year old defendant who the Commission accused of manipulating the price of 9 different securities, generating profits of $272,000 for himself, using his custodial brokerage account. According to the SEC, the […]
Promoter Settles SEC Anti-Touting Action
By Mark J. Astarita, Esq. SEC FILES LAWSUIT AGAINST HOUSTON INTERNET STOCK PROMOTION FIRM On August 18, 2000, the SEC announced that it filed a civil complaint against an Internet company and its owners, alleging that the company distributed press releases and other communications via the Internet touting numerous OTC […]
Prime Bank Promoter Sentences to 30 Years
$74 Million dollar scheme, defrauded over 3,200 investors according to SEC By Mark J. Astarita, Esq. The Commission announced the promoter of a fraudulent prime bank scheme, which raised over $74 million from at least 3,200 U.S. and Canadian victims was sentenced to 30 years in prison. The promoter was […]
NASD NAC Upholds Due Process Strikes Case because of delays
Follows SEC Lead in Upholding Rights to Due Process and Fundamental Fairness after 7 year delay in commencing proceedings. By Mark J. Astarita, Esq. Delays by regulators in bringing enforcement actions is a recurring problem for brokers and firms, as well as their defense counsel. As those of us who […]
For The Record
Note: Mark Astarita was the legal columnist for Research Magazine from 1995 to 2000. This column was the first in of 5 years of monthly articles. BY MARK J. ASTARITA, ESQ. By now, you’re probably aware of Spring Street Brewing’s successful initial public offering completed last year. The company conducted […]
NYSE Arbitrator Selection Pilot Ending
With only 15% of the cases using the alternatives, should the program be extended? NYSE PILOT ON ARB SELECTION: A two-year pilot program at the New York Stock Exchange is scheduled to expire on July 31, 2002. This program, which details three alternatives that parties may use, instead of the […]
NYSE Awards 10/02
Thirty Awards, Including a 9 Million Dollar Member-Member Award, and a Loss for a Customer in An Employee Stock Option Case Against Goldman NYSE AWARDS, 10/02: Among the 30 Awards released by the New York Stock Exchange’s Arbitration Department for the month of October 2002 were Awards depicting all types […]
