The Law of the Financial Markets from Top Securities Lawyers
Friday, May 3, 2024
The SEC has secured temporary asset freezing, restraining orders, and other emergency measures against Digital Licensing Inc., operating under the name “DEBT Box,” a Draper, Utah-based entity. The action also involves the company’s four principals: Jason Anderson, Jacob Anderson, Schad Brannon, and Roydon Nelson, along with 13 other defendants. This […]
Introduction In a groundbreaking development, the SEC has made history by awarding over $104 million to seven whistleblowers. This announcement, which took place on August 4, 2023, marks the fourth largest award ever granted under the SEC’s whistleblower program. These individuals played a pivotal role in facilitating a successful SEC […]
The SEC has taken action against Theorem Fund Services LLC (TFS), a Boca Raton-based fund administrator. The charges revolve around TFS’s failure to respond to red flags related to a fraudulent scheme targeting a private fund and its investors. The Background TFS found itself entangled in a web of deception […]
The Securities and Exchange Commission (SEC) has taken action against Impact Theory, LLC, a prominent media and entertainment company headquartered in Los Angeles. The SEC has charged the company with engaging in an unregistered offering of crypto asset securities through purported non-fungible tokens (NFTs). Impact Theory managed to accumulate approximately […]
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. […]
Introduction The SEC has filed claims against Crowe U.K. LLP, a prominent London-based audit firm, its CEO, Nigel Bostock, and senior auditor, Matthew Stallabrass. The charges stem from the firm’s alleged inadequate audit of Akazoo Limited, a notable music-streaming company. This exposé sheds light on the critical details surrounding the […]
An insightful look into the workings of the SEC Whistleblower Program. The Wall Street Journal presents an article that includes excerpts from an interview with Nicole Creola Kelly, who is the SEC’s head of its whistleblower program. She addresses the criticism in recent years in both circuit courts and […]
Introduction: The SEC has announced a settlement involving Bittrex Inc., a prominent crypto asset trading platform, and its co-founder, William Shihara. The agreement pertains to charges of operating an unregistered national securities exchange, broker, and clearing agency. Bittrex Inc.’s foreign affiliate, Bittrex Global GmbH, is also included in the settlement, […]
Introduction: The SEC has taken legal action against Colombian conglomerate Grupo Aval Acciones y Valores S.A., commonly known as Grupo Aval S.A., along with its subsidiary, Corporación Financiera Colombiana S.A. (Corficolombiana), for their alleged violation of the Foreign Corrupt Practices Act (FCPA). This case sheds light on illicit activities within […]
Aug. 7, 2023 — The SEC announced settled charges against Theorem Fund Services LLC (TFS), a prominent fund administrator based in Boca Raton, Florida. The charges were brought against TFS for their failure to respond adequately to red flags related to a fraud perpetrated against a private fund and its […]
