The Law of the Financial Markets from Top Securities Lawyers
Thursday, April 24, 2025
On September 12, 2024, the Securities and Exchange Commission (SEC) announced that eToro USA LLC has agreed to a settlement of $1.5 million over charges related to operating as an unregistered broker and clearing agency. The settlement stems from eToro’s involvement in facilitating the trading of certain crypto assets classified […]
SEC Takes Action Against Carl Icahn and Icahn Enterprises L.P. The Securities and Exchange Commission (SEC) recently announced significant charges against Carl C. Icahn and his publicly traded company, Icahn Enterprises L.P. (IEP). These charges stem from Icahn’s failure to disclose critical information regarding his use of IEP securities as […]
By Mark J. Astarita, Esq. Arbitration has become the preferred method for resolving customer disputes within the brokerage industry since the pivotal United States Supreme Court decision in MacMahon v. Shearson American Express. Today, nearly every brokerage firm in the country includes a pre-dispute arbitration clause in their agreements, obligating […]
SEC Halts Alleged $300 Million Ponzi Scheme by Drive Planning LLC and CEO Russell Todd Burkhalter The Securities and Exchange Commission (SEC) has obtained a preliminary injunction and asset freeze against Atlanta-based Drive Planning LLC and its founder and CEO, Russell Todd Burkhalter, to stop a $300 million real estate […]
The SEC has announced charges against OTC Link LLC, a New York-based broker-dealer, for failing to file Suspicious Activity Reports (SARs) for over three years. OTC Link has agreed to pay a $1.19 million penalty to settle the charges. Background Broker-dealers like OTC Link are required to file […]
SEC Cracks Down on Ideanomics and Executives for Fraudulent Activities The SEC has settled fraud charges against Ideanomics, Inc., its former Chairman and CEO Zheng (Bruno) Wu, and current CEO Alfred Poor, for misleading the public about the company’s financial performance between 2017 and 2019. Key Highlights: Misleading revenue […]
Streamlining Financial Data: SEC Proposes Joint Data Standards In a significant step towards enhancing financial data transparency, the Securities and Exchange Commission (SEC) has proposed joint data standards under the Financial Data Transparency Act of 2022. This move aims to establish technical standards for data submitted to various financial regulatory […]
SEC Charges Abraham Shafi with Fraudulent Activities at Get Together Inc. The SEC’s Allegations Against Abraham Shafi The SEC has charged Abraham Shafi, the founder and former CEO of Get Together Inc., a social media startup known as “IRL.” Shafi is accused of defrauding investors by making false and misleading […]
Two SEC Attorneys Resign The SEC’s Juridical Blunders The SEC encountered severe criticism following actions perceived as excessively authoritarian in its regulatory endeavors. These actions precipitated a legal reproach and subsequent resignations from the agency, highlighting the contentious and challenging landscape of regulatory practices within the nascent realm of cryptocurrency. […]
