July 2013 Archives - Going Public Lawyers

Uses and Abuses of the Section 3a 10 Exemption

Secuities Lawyer 101 Blog Section 3a 10 of the Securities Act of 1933, as amended (the “Securities Act”) exempts the offer and sale of securities in certain exchange transactions from the registration statement requirements. In SEC Legal Bulletin 3A, the Securities… Read More

Is Stock Scalping Illegal? l Securities Lawyer 101

Securities Lawyer 101 Blog Stock scalping refers to the illegal and deceptive practice of recommending that others purchase a security while secretly selling the same security.  In recent years, the Securities and Exchange Commission (the “SEC”) and Justice… Read More

A New Crowdfunding Watchdog in Massachusetts

Securities Lawyer 101 Blog Consumer watchdogs and the Securities and Exchange Commission (“SEC”) as well are aware that certain provisions of the new Rule 506 created in connection with the JOBS Act could encourage fraud if not effectively… Read More

FINRA Red Flags l Securities Lawyer 101 Blog

Securities Lawyer 101 Blog The Financial Industry Regulatory Authority (“FINRA”) recently identified certain red flags in connection with  a disciplinary action against Gar Wood Securities LLC.  FINRA’s allegations centered on Gar Wood’s alleged facilitation of sales of unregistered securities in violation of the Section… Read More

SEC Charges Investor Relations Provider With Insider Trading

Securities Lawyer 101 Blog On July 26, 2013, the Securities and Exchange Commission (the “SEC”) charged Stephen B. Gray, an investor relations provider with insider trading in the securities of his firm’s clients. The SEC action alleges that Gray obtained confidential information… Read More

SEC Settles Charges For Registration Violations in Unregistered Securities

Securities Lawyer 101 Blog On July 23, 2013, the Securities and Exchange Commission (the “SEC”)  settled charges against Florida resident Jorge Bravo, Jr., for unlawful sales of millions of shares of unregistered securities without complying with the registration statement… Read More

Securities Violator Patrick Kiley Sentenced to 20 Years in Prison

Securities Lawyer 101 Blog On July 15, 2013,  Patrick Kiley was sentenced to 20 years in prison and ordered to pay $155 million in restitution in connection with his conviction on 15 criminal counts including mail and wire fraud, conspiracy… Read More

Securities Attorney, Richard Kranitz Sentenced to 18 Months

Securities Lawyer 101 Blog On July 17, 2013, Richard Kranitz, a Wisconsin securities attorney was sentenced to 18 months in federal prison Wednesday for his role in a securities fraud involving an FBI Sting operation. Kranitz was also sentenced… Read More

SEC Issues Trading Suspension of Camelot Entertainment and 5 Other Issuers

On July 23, 2013, the Securities and Exchange Commission (SEC) announced that it had issued a trading suspension of Camelot Entertainment Group, Inc. (CMGR), Cavico Corp. (CAVO), Global 8 Environmental Technologies, Inc. (GBLE), GTC Telecom

FINRA Fines Newedge USA for Violations

Securities Lawyer 101 Blog On July 11, 2013, the Financial Industry Regulatory Authority (“FINRA”), announced that they and BATS Exchange, Inc., the New York Stock Exchange, NYSE Arca, and the NASDAQ Stock Market have censured and fined Newedge… Read More