According to a statement posted on the TD Ameritrade website, the popular trading platform will restrict orders in Caveat Emptor designated OTC securities to liquidating trades only starting May 25, 2021.
Category: Blog Posts Tags: 15c-211, Caveat Emptor, E-Trade, E*TRADE, FINRA, fraud, OTC Markets, OTC Markets Group, Penny stocks, Robinhood, rule change, scams, SEC, securities, Securities and Exchange Commission, stock fraud, stock manipulation, Stock Promotion, TD Ameritrade
The Securities and Exchange Commission case against Robinhood Financial moved one step closer to a payout when the SEC issued an Order appointing JND Legal Administration as the Fund Administrator of the Fair Fund established for the $65,000,000 that Robinhood Financial had agreed to pay on December 17, 2020.
Category: Blog Posts Tags: Broker, class action, commission free, congress, controversy, crash, crSecurities and Exchange Commission, Fair Fund, fine, Fund Administrator, GameStop, glitch, GME, hacking, initial public offering, IPO, JND Administration, lawsuit, Massachusetts Securities Division, OTC Markets, pandemic, Penny stocks, Robinhood, Robinhood Financial, SEC, SEC Complaint, SEC Order, short squeeze, stock trading, suicide, wall street
On April 20, 2021, the Securities and Exchange Commission filed charges against Ubong Uboh and Tyler Crockett for soliciting investors to purchase shares of several microcap issuers from a call room in Miami, Florida.
Category: Blog Posts Tags: Andrew Dale Wise, Anthony Killarney, ANVV, AV1 Group Inc, AVOP, BEAG, BFTI, Bingo Nation, BioHemp International Inc, BKIT, Blacklight SA, BLTO, Boiler Room, Call Room, CBDC, Christopher Lee McKnight, CURE Pharmaceutical Holding Corp, CURR, Cyberfront Software Inc, CYBF, doj, DRNG, Drone Guarder, EMS Find Inc, EMSF, Environmental Packaging Technologies Holdings Inc, EnviroTechnologies International Inc, EPTI, ETII, ETKR, EV Transportation, Evolution Technology Resources Inc, EVTP, Garret O'Rourke, GLBB, Global Quesst Ltd, Indictment, Integrated Ventures Inc, INTV, Kenneth Ciapala, KOVR, Link Reservation Inc, LRSV, Matthew Ledvina, Miami, Michael J Black, Milan Patel, Morrie Tobin, NHEL, OMID, Omid Holdings Inc, OTC Markets, Penny stocks, pump and dump, Rajesh Taneja, Roger Knox, scam, SEC, SEC Complaint, Securities and Exchange Commission, SPRN, Steve Bajic, stock manipulation, stock scam, Stock Tips, Supernova Energy, Switzerland, Tyler Crockett, Ubong Uboh, Ulrik Debo, UPPR, US Attorney's Office, VIBI, Vilacto Bio Inc, ZENO, Zenosense
On Wednesday, April 14, 2021, five Individuals were indicted for a stock manipulation/money laundering scheme involving a private oil and gas company and two public Issuers, OrgHarvest Inc (“ORGH”) and ERF Wireless Inc (“ERFB”). The five-count indictment filed… Read More
Category: Blog Posts Tags: Angie Touhoulioutis, criminal charges, Deanna Looney, doj, ERF Wireless Inc, ERFB, Escalera Ranch, fbi, FINRA, Franklin Ross Inc, fraudulent offering, Greer, Indictment, James Christopher Pittman, Katie Mathews, Le Cle Minerals, Magness, Mark Ross, Michael Greer, Money Laundering, Naomi Ross, ORGH, OrgHarvest Inc, OTC Markets, Penny stocks, Rainmaker Advisors LLC, Richard Dale Sterritt Jr, Richman Energy, Robert Magness, Robyn Straza, Ross, scam, SEC, SEC suspension, Securities and Exchange Commission, Securities Fraud, Sterritt, stock manipulation, stock offering, Straza, undercover agent, WAST, WasteMasters Inc, wire fraud, Zona, Zona Energy Inc
On Wednesday, April 7th, six South Florida residents were indicted by a federal grand jury on charges that they defrauded investors of approximately $21 million by falsely claiming that the investors’ money would go towards the development of… Read More
Category: Blog Posts Tags: 7S Oil & Gas LLC, Aegis Oil LLC, Alexander Charles White, American Green Group Inc, Bidville Inc, boiler rooms, Bonnano Crime Family, CFTC, Cindy Vandivier, Cirilium Holdings Inc, Commodity Futures Trading Commission, conspiracy to commit mail fraud, crime family, Cypress Wealth Management Group Inc, David Goertz, Dough Wright, fbi, federal grand jury, FINRA, fraud, Gerald Parker, GLUV Corp, iBID USA Inc, Indictment, investors, Joseph Charles, kickbacks, LH Ross & Company Inc, Madison Brooke, Madison Brookes, Magic Media Inc, Michael Assenza, mob, mobile gaming application, Money Laundering, otc, Paul Geraci, Paul Vandivier, Penny stocks, Phillip Polizzotto, prison, Renewable Corp, Royal Palm Capital, Saleen Automotive Inc, Salvatore Puccio, scheme, SEC, Securities and Exchange Commission, Securities Fraud, Social Voucher, Social Voucher.com Inc, South Florida, Stocket Inc, stocks, Ted Lamar, Ted Romeo, telemarketing, undisclosed commissions, wire fraud
On February 14, 2021, we published an article alerting the public about what we calculated to be the start of a new initiative by the Securities and Exchange Commission (“SEC”) to reign in the market manipulation of no information stocks through Social Media.
Since that article, the SEC has suspended 70 more stocks, in addition to the SpectraScience Inc (SCIE) suspension that kicked off the string of activity.
Category: Blog Posts Tags: AAXT, ABVG, ADTC, ARBI, ARCS, ARHI, AXCG, BBDA, BLSP, BNGI, BRTE, BTAM, Caveat Emptor, CCAQ, CCHZ, CE, CGDI, corporate hijacking, CRRSQ, CUBG, custodianship petition, defunct, Delinquent filer, DKGR, DLII, EENC, EENR, EHOS, ENGY, ENZH, EVTI, GLWA, GSVI, GYOG, HAHI, HBTC, HERC, HLXW, HYII, IFCI, IPWG, IYXI, JRIV, LGTS, LTNC, market manipulation, marketplace integrity, MEDT, MGLO, MLPH, MRIB, MTPR, NEMD, no information stocks, NTLK, NWUC, OLFC, ONLI, OSCN, OTC Markets, PDPR, Penny stocks, pink sheets, PNLT, PTAH, PTTN, pump and dump, reinstatement, RNUE, ROKR, scam, SCIE, SEC, SEC suspension, Securities and Exchange Commission, Securities Fraud, SKAJ, Social Media, social media hype, SPDE, SPXP, STCO, stock manipulation, Stock Promotion, stock pump, suspension risk, TNGNQ, TPIL, TSNI, UNGS, USAM, VCLD, WGIH, WHLX, WOFA, WPEC, WRFX, XCRP
On August 17, 2020, Judge Marcia G. Cooke, persuaded by the SEC’s arguments, handed down an order granting the SEC’s motion for summary judgment against Ibrahim Almagarby. The SEC is now seeking total financial sanctions amounting to $1,147,277, penny stock bars against both Almagarby and his company, Microcap Equity Group LLC, and requests that the court order Microcap Equity to surrender the remaining shares of stock it holds for cancellation and to surrender its remaining conversion rights under any convertible notes still in its possession.
Category: Blog Posts Tags: Aluf Holdings, AXCG, Axxess Pharma, Big Apple Consulting USA Inc, Broker, broker-dealer, Bulova Technologies Group, CD International Enterprises, Convertible Notes, CUBA Beverage Company, Daniels Corporate Advisory Company, dark, death spiral financing, debt conversion, defunct, Dewmar International BMC, East Coast Diversified Corp., ELRA, Elray Resources, Energy Revenue America, Eyes on the Go, Gold & Silver Mining of Nevada, Gold and GemStone Mining Inc., Green Energy Enterprise, Green Energy Enterprises, Greenfield Farms Food, Grid Petroleum Corp./ Simlatus Corporation, GYOG, Halberd Corporation, Halitron, HAON, Healthnostics, Healthy & Tasty Brands Corporation (a/k/a GRILLiT, Hybrid Coating Technologies, Ibrahim Almagarby, In Ovations Holdings, Inc, Indo Global Exchange(s) Pte, InoLife Technologies, InternetArray, John Fierro, judgment, Las Vegas Railway Express, LIG Assets, Ltd., Marcia G Cooke, Medical Care Technologies Inc., Microcap Equity Group LLC, Mining Global, MyECheck, Next Galaxy Corp., North American Cannabis Holdings, otc, OTC Markets, OTC Markets Group, Penny stocks, PM&E, PotNetwork Holdings Inc., PPJ Healthcare Enterprises, QASP, Quasar Aerospace Industries, reverse split, Robert W Lowry, Rule 144, Sanomedics, SARS, scam, SEC, SEC Action, SEC Complaint, securities, Securities and Exchange Commission, securities law, Seven Arts Entertainment, stock trading, stocks, Suspicious Activity Reports, toxic funding, Urban AG Corp, US District Court for the Southern District of Florida
At the open of the trading session on February 11th, The Securities and Exchange Commission suspended trading in SpectraScience Inc (SCIE). It could be a precursor for a significant change in focus for the SEC to try to clean up a marketplace that has gone off the rails lately with an unprecedented amount of manipulative trading activity through the influence of Social Media.
Category: Blog Posts Tags: dead stock, Delinquent filer, Discord, fraud, IHUB, inactive stock, OTC Markets, Penny stocks, Reddit, SCIE, SEC suspension, Securities and Exchange Commission, Social Media, SpectraScience Inc, stock manipulation, stocks, Suspension Order, TikTok, Twitter, YouTube, zombie stock
On February 4, 2021, the U.S. Securities and Exchange Commission announced charges against two associates of Rudy Giuliani, the former New York City mayor and lawyer for Donald Trump, alleging they raised $2 million from investors by making false and misleading representations.
Category: Blog Posts Tags: Adam Putnam, Alain Chalem, America First Action, Andrey Kukushin, Boris Vax, broker-dealer, Chuck Arnold, David Correia, doj, Donald Trump, Donald Trump Jr., Euro-Atlantic Securities, Face Up Entertainment Group Inc, FINRA, fraud, Fraud Guarantee, FUEG, Global Energy Producers, Ian Kass, Igor Fruman, Indictment, Ivanka Trump, Jared Kushner, Joe Biden, Lev Parnas, Maier Lehmann, Major, Michael Vax, Mike Pence, Mitchell Reisman, New York, OTC Markets, Penny stocks, Program Trading Corp, Rick Scott, Robert Grinberg, Ron DeSantis, Rudi Giuliani, Russia, scam, SEC, SEC Complaint, stock broker, Tel-Com Wireless Cable TV, Ukraine, US Securities and Exchange Commission
On January 8, 2021, the Securities and Exchange Commission announced settled charges against a Utah corporation, its principals, Mark W Wiseman and Clark J Madsen, and two securities fraud recidivists, Thomas J Robbins and Daniel J Merriman, for orchestrating two inter-related frauds resulting in approximately $11 million in investor losses to around 80 investors.
Category: Blog Posts Tags: ARC Holdings, Church of Jesus Christ of Latter-day Saints, Clark J Madsen, ConTXT, Daniel J Merriman, doj, fraud, Indictment, investment scheme, LDS Church, Mark W Wiseman, ponzi scheme, prison, Private Placement Memorandum, recidivists, Robert Whitaker, scam, SEC, Securities and Exchange Commission, Securities Fraud, Tek Corp, Thomas J Robbins, Tri Energy Inc, Utah
On November 12, 2020, President Donald Trump signed Executive Order 13959. The executive order prohibits all U.S. Investors (institutional and retail alike) from purchasing or investing in securities of companies identified by the U.S. government as “Communist Chinese military companies.” The prohibition went into effect on January 11, 2021, and immediately resulted in its first casualties, with 3 listed stocks being delisted and several OTC stocks having their symbols deleted.
Category: Blog Posts Tags: 13959, Advanced Micro-Fabrication Equipment Inc, Aero Engine Corporation of China, aerospace, Aviation Industry Corporation of China, Beijing Zhongguancun Development Investment Center, CCCGF, CCCGY, CCOHF, CCOHY, ChemChina, China, China Academy of Launch Vehicle Technology, China Communications Construction Company, China Construction Technology, China Electronics Corporation, China Electronics Technology Group, China General Nuclear Power Group, China International Engineering Consulting Corporation, China Mobile, China National Aviation Holding Co Ltd, China National Chemical Corporation, China National Chemical Engineering, China National Nuclear Corporation, China National Offshore Oil Corporation, China North Industries Group Corporation, China Nuclear Engineering & Construction Corporation, China Railway Construction Corporation, China Shipbuilding Industry Corporation, China South Industries Group, China Spacesat, China State Construction Engineering, China State Shipbuilding Corporation, China Telecommunications Corporation, China Three Gorges Corporation, China Unicom, China United Network Communications Group, Chinese Government, CHJHF, CHL, CHLKF, CHTEF, CHU, CHUFF, Commercial Aircraft Corporation of China Ltd, communications, Communist, construction, CRCCY, CRRC Corporation, CRRRF, CWYCF, CWYCY, Dawning Information Industry Co, Depart of Defense, Donald Trump, exchange-listed stocks, Executive Order, Executive Order 13959, FINRA, Global Tone Communication Technology Co Ltd, GOWIN Semiconductor Corp, Grand China Air Ltd, Hikvision, Huawei, INPRF, Inspur, LKCO, Luokong Technology Corporation, military, nasdaq, nyse, OTC Markets, Panda Electronics NJGPF, Semiconductor Manufacturing International Corporation, shipbuilding, Sinochem, SIUIF, SMICY, technology, U.S. Law, US Investors, XIACF, XIACY, Xiaomi Corporation
On December 22, 2020, the Securities and Exchange Commission (“SEC”) voted to propose amendments to Rule 144 to eliminate tacking for shares acquired upon exercise or conversion of market-adjustable securities. Market adjustable securities are most often promissory notes, warrants, or preferred stock convertible into common or other shares at a dramatic discount to the issuer’s trading price. These types of market adjustable securities are known as “toxic financings” or “death spirals” for a reason. These financings are typically provided by persons acting as unregistered dealers, and they have crippling effects on small businesses and investors.
Category: Blog Posts Tags: 3(a)10 exemption, broker-dealer, Convertible Notes, death spiral, Dilution, discounted stock, Edgar, Form 4, market-adjusted security, OTC Markets, Penny stocks, preferred stock, promissory notes, proposed rule change, restricted stock, Rule 101(a), Rule 101(b), Rule 144, SEC, Section 15(a), Section 5, Securities Act Section 4(a)(1), Securities and Exchange Commission, Securities Exchange Act, tacking, toxic financier, toxic financing, unregistered dealers, warrants
On December 17, 2020, the US Department of Justice unsealed an Indictment against nine individuals charged in a “pump and dump” stock manipulation scheme involving Global Resource Energy Inc (GBEN) filed in the Northern District of Ohio, Eastern Division.
Category: Blog Posts Tags: Alberta Securities Commission, Avila P&H LLC, Belize, BLUF, BluForest Inc, Brian Kingsfield, Cathy Collins, CBDX, Cem Can, Charles Michael Miller, Christopher Joseph Bongiorno, Christopher Neumann, Complaint, Conspiracy to Commit Securities, Curative Biosciences Inc, Dale Pearlman, Dale Scott Pearlman, Damon Durante, David Michael Naylor, David Naylor, doj, Donald Lee Howard, Expert Market, fbi, fraud, Gary Kouletas, GBEN, Global Resource Energy Inc, Grey Market, Gulf Coast M&A Ltd, Healthient Inc, Hughe Duwayne Graham, Indictment, Intertech Solutions Inc, ITEC, Jason Allan Arthur, Jim Can, Larry Louis Matyas, Luxorious Travel Corp, LXRT, Mail Fraud, match trading, Money Laundering, NuBasalt International Inc, otc, OTC Markets Group, PAG Group LLC, paint the tape, Patrick Thomas, Paul Giarmoleo, Paul Spivak, Penny Stock, Petroteq Energy Inc, PQEFF, Private Resources LLC, pump and dump, Richard Andrew Mallion, Richard Eden, SEC, SEC suspensionMichael Strong, Securities Fraud, Sims Investment Holdings, SNAX, stock manipulation, Streamworx Consulting LLC, SYAI, Sycamore Ventures Inc, Systems America Inc, SYVN, Thomas Collins, Tyler Paulson, United States Department of Justice, United States Securities Commission, US Lighting Group Inc, USLG, Verde Asset Management LLC, View Point Health Investments LLC, Virtual MediClinic USA LLC, William Scott Marshall, wire fraud
On Tuesday, the US Securities and Exchange Commission (SEC) approved a proposed plan by the New York Stock Exchange (NYSE) to let companies raise capital through direction listing.
Category: Blog Posts Tags: broker-dealer, Capital, Direct Offering, initial public offering, IPO, nasdaq, New York Stock Exchange, nyse, SEC, SPAC, stocks, underwriters, US Securities and Exchange Commission
On Friday, the Securities and Exchange Commission (the “SEC”) announced that it had settled charges against The Cheesecake Factory Incorporated (CAKE) for making misleading disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition.
Category: Blog Posts Tags: CAKE, Cheesecake Factory, COVID-19, David Overton, Form 8-K, misleading, pandemic, press release, Rule 12b-20, Rule 13a-11, SEC, SEC Action, SEC Order, Section 13(a), Securities and Exchange Commission, securities violation, The Cheesecake Factory Incorporated
On Friday, the U.S. House of Representatives passed a historic bill that would end the federal prohibition of marijuana. The Marijuana Opportunity, Reinvestment and Expungement (MORE) Act passed by a 228 to 164 margin.
Category: Blog Posts Tags: Arizona, Cannabis, cannabis stocks, CBD Denver Inc, CBD Life Sciences Inc, CBDD, CBDL, congress, Democrats, Jerry Nadler, marijuana, Marijuana Company of America Inc, Matt Gaetz, MCOA, Mississippi, Montana, MORE act, new jersey, Penny stocks, Reinvestment and Expungement (MORE) Act, Republicans, Social Life Network Inc, South Dakota, The Marijuana Opportunity, U.S. House of Representatives, U.S. Senate, WDLF
On December 1, 2020, the Nasdaq Stock Market LLC filed a proposal with the U.S. Securities and Exchange Commission (“SEC”) to adopt new listing rules related to board diversity and disclosure.
Category: Blog Posts Tags: African American, Alaska Native, Allakos Inc, Alliance for Board Diversity, Array Technologies Inc, Baidu Inc, bisexual, Black, board diversity, board of directors, Deloitte, diversity, ethic diversity, Ethnicities, exchange listing rulesNasdaq Global Select Market, Fortune 500, gay, hispanic, Jay Clayton, JD.com Inc, Joe Biden, LaCroix, Latinx, lesbian, LGBTQ, Mary Jo White, minorities, nasdaq, Nasdaq Capital Market, Nasdaq Global Market, Nasdaq Inc, NASDAQ stock market, Nasdaq stocks, National Beverage Corp, Native American, Native Hawaiian, nyse, Pacific Islander, Pinduoduo Inc, queer, SEC, SEC chair, transgender, U.S. Securities and Exchange Commission, White, woman
The U.S. House of Representatives unanimously passed legislation on Wednesday that would kick Chinese companies off U.S. stock exchanges if they do not fully comply with the U.S. auditing rules.
Category: Blog Posts Tags: Accounting Fraud, Alibaba, BABA, Baudu Inc, BIDU, Chinese Stocks, congress, Donald Trump, fake sales, foreign stocks, fraud, FUTU, Futu Holdings, Hindenburg Research, Holding Foreign Companies Accountable Act, Janet Yellen, Jay Clayton, JD, JD.com, Joe Biden, Kandi Technologies, KNDI, legislation, LK, LKNCY, Luckin Coffee, nasdaq, NIO, Nio Inc, nyse, PCAOB, PDD, Pinduoduo, Public Company Accounting Oversight Board, regulators, sales fraud, scam, scrutiny, SEC, Securities and Exchange Commission, self-dealing, Senate, SINA, Sina Corp, Steven Mnuchin, Treasury Secretary, US House of Representatives, US listed stocks, US Treasury, VIPS, Vipshop
On December 2, 2020, the Securities and Exchange Commission (the “SEC”) charged disbarred attorney Richard J. Rubin and licensed attorney Thomas J. Craft with fraud for their roles in a legal opinion letter scheme to fraudulently facilitate the sale of millions of shares of microcap securities to retail investors.
Category: Blog Posts Tags: Administrative Action, Administrative Order, AFGC, Africa Growth Corp, American International Industries Inc, AMIH, attorney, attorney letters, AXXA, Bar Complaint, Citrine Global Corp, civil penalty, CTGL, DCLT, disbarred attorney, disgorgement, doj, E-Qure Corp, ECDC, ECMT, Ecomat Inc, EQUR, eWellness Healthcare Corporation, EWLL, Exxe Group Inc, fraud, Global Technologies Corp, Icoa Inc (ICOA), Indictment, Ivo Heiden, Jeffrey O Friedland, judgment, KinerjaPay Corp, KPAY, legal opinion letter scheme, Nexien BioPharma Inc, NXEN, opinion letters, OTC Markets, OTC Markets Group, OWC Pharmaceutical Research Corporation, OWCP, penny stock ban, Peregrine Industries Inc, PGID, prohibited attorney, registration statements, Richard J Rubin, S-1, S-8, SAML, Samsara Luggage Inc, scam, SEC, SEC Complaint, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Smart Energy Solutions Inc, Suspect Detection Systems Inc (SDSS), Thomas J Craft, Thomas J Craft Jr, Triumph Ventures Corp, USA Equities Corp (USAQ, VBIX, ViewBix Inc
OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 11,606 U.S. and global securities. Securities are placed into one of these three tiers based on the level of disclosure provided and the listing fees paid by the issuer.
Category: Blog Posts Tags: 15c211, ADRs, annual fees, Application fees, applying for OTCQX, broker-dealer, community banks, Corporate governance standards, disclosure standards, dividend-paying companies, Eligibility standards, fees, financial standards, FINRA, foreign Issuers, foreign ordinaries, Form 211, global securities, Going Public, International companies, large-cap companies, Market Maker, micro-cap companies, mid-cap companies, OTC Link ATS, OTC Markets, OTC Markets Group, OTCQB, OTCQB Venture Market, OTCQX, OTCQX Best Market, OTCQX Eligibility, OTCQX fees, OTCQX Listing, Penny stocks, Pink, Pink Open Market, SEC, SEC reporting companies, Securities and Exchange Commission, small-cap companies, stocks, trading, U.S. community banks, U.S. companies
2020 has been a historic year for Securities and Exchange Commission (“SEC”) enforcement action against toxic lenders as unregistered dealers.
Category: Blog Posts Tags: broker-dealer, Chicago Venture Partners LP, Dilution, financing, FINRA, Ibrahim Almagarby, Iliad Research and Trading LP, JDF Capital Inc, JMJ Financial, John Fierro, John M. Fife, Justin Keener, litigation, Microcap Equity Group LLC, Microcap Stock, OTC Markets, Penny stocks, public Issuer, reverse split, scam, SEC, SEC Complaint, SEC enforcement action, Section 15(a), securities, Securities and Exchange Commission, securities attorneys, Securities Exchange Act of 1934, St George Investments LLC, stock price, Tonaquint Inc, toxic funding, toxic lenders, transfer agents, Typenex Co-Investment LLC, unregistered dealers
SPACs, which stand for special purpose acquisition companies, are similar to blank check companies. The SPAC does an Initial Public Offering (an “IPO”) as a shell company with no commercial operations to raise money from the public for the purpose of acquiring an existing private company with real operations.
Category: Blog Posts Tags: Bill Ackman, blank check company, capital raise, COVID-19, Diamond Eagle Acquisition Corp, DKNG, DraftKings Inc, Going Public, initial public offering, investors, IPO, Jay Clayton, merger, Nikola Corp, NKLA, Pershing Square Tontine Holdings, Renaissance Capital, SEC, SEC Chairman, Shell Company, Social Capital Hedosophia Holdings, SPAC, SPCE, Special Purpose Acquisition Company, VectolQ Acquisition, Virgin Holdings Inc
With Jay Clayton stepping down as the Chairman of the Securities and Exchange Commission at the end of the year, president-elect Joe Biden will have an opportunity to pick his replacement. Who are some of the top candidates as a full-time replacement for SEC chief?
Category: Blog Posts Tags: African American SEC Chair, Allison Herren Lee, Allison Lee, Annette L Nazareth, Annette Nazareth, Barack Obama, CFTC, Chris Brummer, Commodity Futures Trading Commission, crime, Department of Justice, dodd-frank, doj, Donald J Trump, federal prosector, Financial Industry Regulatory Authority, FINRA, Gary Gensler, George W Bush, hedge funds, Jay Clayton, Joe Biden, Kara Marlene Stein, Kara Stein, Keir Gumbs, law professor, Michael Barr, Michael S Barr, moderates, Preet Bharara, president, progressives, Robert J Jackson Jr, Robert Jackson, SEC, SEC chair, SEC Chairman, SEC chief, Securities and Exchange Commission, Securities Fraud, Steven Cohen, Timothy Geithner, Treasury, uber, wall street, Wall Street Reform
On November 16, 2020, Jay Clayton, Chairman of the Securities and Exchange Commission, announced that he would be stepping down at the end of the year after 3 years and 238 days on the job.
Category: Blog Posts Tags: 10b5-1, alternative trading systems, blank-check companies, blockchain, broker-dealer, CNBC, COVID-19, Cyber Unit, cybersecurity, Digital Assets, Division of Enforcement, Harold M Williams, ICO, Initial Coin Offerings, insider trading, investors, Jay Clayton, jobs act, Joe Biden, John Shad, Main Street Investors, Manuel F Cohen, Mary Jo White, municipal bond market, OCIE, regulations, SEC, SEC Chairman, SEC enforcement actions, sec rules, Securities and Exchange Commission, SPACs, special purpose acquisition companies, startups, whistleblower
On November 19, 2020, the United States Attorney William M. McSwain filed a superseded Indictment against Jeffrey D Martin, 61, of Orlando, FL. Martin was charged with conspiracy and multiple counts of securities fraud and wire fraud, related to his manipulation of several publicly-traded securities in a “pump and dump” scheme in which Martin and his co-schemers allegedly defrauded investors out of over $19 million.
Category: Blog Posts Tags: ACAP Financial Inc, aiding and abetting securities fraud, AIOM. QEBR, Am-Pac International Inc, Axiom Holdings Inc, Beaufort Capital Partners LLC, British Virgin Islands, Christian T Tedrow, co-conspirators, conspiracy to commit securities and wire fraud, conspiracy to commit securities fraud, Criminal Indictment, Department of Justice, disgorgement. fines, doj, fbi, FINRA, First Power and Light, fraud, fraudulent press releases, fraudulent securities disclosures, Gary Hume, Harold J Swart Jr, Hong Kong, Inc, Indictment, Jeffrey D Martin, Karen F Aalders, Kirk Lynn Ferguson, Mainstream Entertainment Inc, MSEI, OTC Markets William M McSwain, Penny Stock, pump and dump, Resort Savers Inc, Robert P Marino, RSSV, SEC, Sterling Craig Barton, stock manipulation, Superseded Indictment, Swart Baumruk & Co. LLP, Thomas L Tedrow, Tyler T Tedrow, UGHL, Union Bridge Holdings LTD, United States Attorney, United States Attorney's Office Eastern District of Pennsylvania, United States Securities and Exchange Commission, Virtual medical International Inc, VOLT, Volt Solar Systems Inc, wire fraud
Today, the Securities and Exchange Commission (the “SEC”) charged a San Francisco-based e-commerce startup and its chief executive officer with misleading investors about purported contracts with well-known consumer brands.
Category: Blog Posts Tags: Andrew J Chapin, Backcountry.com, Benja Incorporated, criminal charges, doctored bank statements, doj, falsified documents, Fanatics, forged contracts, fraud, impersonated customers, Indictment, investors, Nike, Patagonia, scam, SEC, SEC Complaint, Securities and Exchange Commission, Startup, US Attorney's Office for the Northern District of California, venture capital, Zappos
Last week, the SEC Division of Trading and Markets published a staff bulletin highlighting various risks for broker-dealers arising from certain transactions in “penny stocks” and other low-priced securities. The Commission emphasized that these risks are heightened when the identities of a foreign financial institution’s underlying customer and/or the ultimate beneficial owner of the funds and securities are unknown to a broker-dealer because of the omnibus account structure.
Category: Blog Posts Tags: AML, AML Program, Bank Secrecy Act, broker-dealers, BSA, enforcement actions, federal securities laws, FINRA, foreign accounts, fraud, illegal stock sales, illicit activities, Jay Clayton, Money Laundering, omnibus accounts, OTC Markets, Penny stocks, SAR, SEC, SEC Division of Trading and Marketing, securities, Special Due Diligence Program, Stock Promotion, Suspicious Activity Report, unregistered securities offering, US Securities and Exchange Commission
According to the annual report published by the Division of Enforcement of the U.S. Securities and Exchange Commission (the “SEC”), there were 715 overall enforcement actions in fiscal 2020, down 17% from the previous year.
Despite the slow down, financial remedies ordered “set a new high,” according to Stephanie Avakian, the agency’s enforcement chief. The Commission obtained judgments and orders totaling approximately $4.68 billion in disgorgement and penalties – the highest amount on record.
Category: Blog Posts Tags: 2020, administrative proceedings, Aethlon Medical Inc, Applied BioSciences Corp, Arrayit Corporation, BioElife Corp, BioXyTran Inc, Blackhawk Growth Corp, Bravatek Solutions Inc, CNS Pharmaceuticals Inc, complaints, Cornerstone Research, coronavirus, COVID-19, Covid-19 Pandemic, criminal authorities, Custom Protection Services Inc, Decision Diagnostics Corp, delinquent SEC filers, disgorgements, Division of Enforcement, Douglas Roe, Eastgate Biotech, EastWest Bioscience Inc, enforcement actions, Jason C. Nielsen, Kelly Warawa, Key Capital Corporation, Kleangas energy Technologies Inc, Lord Global Corp, Mark Schena, Michael Luckhoo-Bouche, Microcap, Micron Waste Technologies Inc, Moleculin Biotech Inc, Nano Magic Inc, Nelson Gomes, No Borders Inc, NYU Pollack Center for Law & Business, OTC Markets, Parallax Health Sciences Inc, penalties, Penny Stock, Praxsyn Corporation, PreCheck Health Services Inc, Predictive Technologies Group Inc, Prestige Capital Corp, public companies, referrals, regulators, Roadman Investments Corp, Sandy Steele Unlimited Inc, SCWorx Corp, SEC, SEC Issuers, Securities Exchange Commission, SEED, Signpath Pharma Inc, Solei Systems Inc, Solutions Inc, SpectrumDNA Inc, Stephanie Avakian, TCRs, tips, tradings suspension, Turbo Global Partners Inc, US Lithium Corp, US Securities and Exchange Commission, Wellness Matrix Group Inc, whistleblower, WOD Retail, WPD Pharmaceuticals Inc, Zoom Technologies Inc
Last week, E*TRADE, a subsidiary of Morgan Stanley, which offers an electronic trading platform to trade financial assets including common stocks, announced that effective November 21, 2020, customers will no longer be able to open positions in Caveat Emptor securities due to the risks associated with trading shares in these companies.
Category: Blog Posts Tags: Caveat Emptor, E-Trade, E*TRADE, Expert Market, fraud, Grey Market, OTC Markets, OTC Markets Group, Penny stocks, Promotion, Public Interest Concerns, Risk, SEC, Securities Exchange Commission, Suspension/Halt
