What are the OTC Markets Reporting Requirements?
Securities Lawyer 101 Blog Unlike securities listed on stock exchanges such as NASDAQ or the NYSE, securities may trade through the OTC Markets interdealer quotation system whether they are a Securities and Exchange Commission (“SEC”) reporting issuer or not…. Read More
Jerry Williams AKA Monk Ordered to Pay Over $9,600,000
Securities Lawyer 101 Blog On February 12, 2014, the Securities and Exchange Commission (“SEC”) announced that a Connecticut federal court entered judgments against a former Connecticut-based stock promoter, Jerry S. Williams, and two companies that he controlled, Monk’s… Read More
What Is a Naked Short Sale? Securities Lawyer 101
Securities Lawyer 101 Blog The Short Seller Scape Goat In recent years, the activities of short sellers have been the subject of controversy. While short selling is a simple process it is widely misunderstood. While the average investor… Read More
What Is Caveat Emptor? Going Public Lawyers
Securities Lawyer 101 Blog The Latin phrase Caveat Emptor means “let the buyer beware.” The application of the Caveat Emptor principle is most often applied in the sale of property where a purchaser has a specific period of… Read More
Steven Palladino Sentenced to 10-12 Years
Securities Lawyer 101 Blog On January 24, 2014, the Securities and Exchange Commission (“SEC”) announced that a Massachusetts state court judge sentenced Massachusetts resident Steven Palladino to a prison term in a criminal action filed by the Suffolk… Read More
Joseph Meuse & Belmont Partners Barred, Enjoined and Fined
Securities Lawyer 101 Blog On January 10, 2014, the Securities and Exchange Commission (“SEC”) announced a $300,000 settlement against Belmont Partners LLC, an alleged “shell packaging” company and Joseph Meuse, its Chief Executive Officer. Belmont and Meuse were… Read More
SEC Charges Caroline Winsor l Securities Lawyer 101
Securities Lawyer 101 Blog The SEC has charged Caroline Winsor, a Canadian stock promoter, Richard Walchuk, the president and Chief Executive Officer of Viosolar Inc. and Lisa Esposito, a former registered representative, in connection with the manipulation of… Read More
SEC Charges Lance Berger l Securities Lawyer 101
Securities Lawyer 101 Blog According to the SEC, in December 2012, Lance Berger, a stock promoter for several penny stock companies, including FUEG, along with another stock promoter who was a business associate of Berger’s, began discussions with… Read More
SEC Charges Stock Randy Hamdan and Oracle Consultants
Securities Lawyer 101 Blog On December 10, 2013, the Securities and Exchange Commission (the “SEC”) charged Randy Hamdan and a related entity, Oracle Consultants LLC, with carrying out a pump-and-dump scheme in the securities of CompuSonics Video Corporation…. Read More
SEC Charges MALOM Group with Securities Fraud
Securities Lawyer 101 Blog The Securities and Exchange Commission filed securities fraud charges against MALOM Group AG, whose name is an acronym for “Make A Lot Of Money”. The SEC alleges that Swiss-based Malom Group AG and other… Read More
SEC Halts Oil And Gas Scheme l Securities Lawyer 101
Securities Lawyer 101 Blog On December 6, 2013, the Securities and Exchange Commission (the “SEC”) announced charges and an emergency asset freeze against the perpetrators of a Texas-based Ponzi oil and gas scheme involving purported investments drilling projects.
Securities Lawyers Gone Wild l Brynee K. Baylor
Securities Lawyer 101 Blog On October 30, 2013, the United States District Court for the District of Columbia granted the SEC‘s motion for summary judgment against all defendants in a civil action arising from a prime bank investment scheme… Read More
Wedding Singer Charged by the SEC with Fraud
Securities Lawyer 101 Blog The Securities and Exchange Commission (the “SEC”) brought a securities fraud enforcement action against an Oklahoma wedding singer and former investment adviser, Larry J. Dearman, Sr., and his special friend, Marya Gray in connection… Read More
OTC Markets Issuer Reporting Standards
Securities Law 101 Blog Securities listed on stock exchanges such as NASDAQ or the NYSE, securities may trade through the OTC Markets interdealer quotation system whether they are Securities and Exchange Commission (“SEC”) reporting issuer or not. There are three… 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
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
FINRA Prohibited Conduct l Broker-Dealer Lawyers
Securities Lawyer 101 Blog The Financial Industry Regulatory Authority (“FINRA”) require that broker-dealers and market makers observe “high standards of commercial honor and just and equitable principles of trade.” FINRA rules also prohibit broker-dealers and market makers from… Read More
What Are Short Sale Failures to Deliver?
Securities Lawyer 101 Blog In recent weeks, it has been claimed that microcap issuers are the target of rumor mongering by stock bashers working in collusion with market makers and notorious short sellers. It is sometimes difficult to differentiate… Read More
SEC Charges Laidlaw and Its CEO for Securities Violations
Securities Lawyer 101 Blog On June 5, 2013, the Securities and Exchange Commission (the “SEC”) charged penny stock issuer, Laidlaw Energy Group. According to the SEC charges, Laidlaw and its CEO, Michael B. Bartoszek sold more than two… Read More
Ask Securities Lawyer 101 l Short Sale Q & A
Short selling can be a legitimate trading strategy. It is often endorsed for its beneficial effects on the securities markets, which include increasing liquidity. It is also criticized. Short sellers profit by identifying companies that are weak or… Read More
Form 10-Q Requirements l Securities Lawyer 101 Blog
Securities Lawyer 101 Blog Public companies with a class of securities registered under Section 12 or subject to Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are subject to the periodic and… Read More
Securities Lawyers Gone Wild l Brian Reiss
Securities Lawyers Gone Wild Series Securities Lawyer 101 Blog On March 8, 2013, the Securities and Exchange Commission (the “SEC”) charged Brian Reiss, a California securities lawyer, with churning out baseless legal opinions for penny stocks traded on the OTC… Read More
OTC Markets OTC Pink Disclosure Obligations
Securities Lawyer 101 Blog OTC Markets Group operates the world’s largest electronic inter-dealer quotation system. Broker-dealers use it to trade unlisted securities. OTC Markets assigns issuers to one of three tiers based upon the level of disclosure provided. The OTC Pink is… Read More
SEC Announces Fraud Charges in Ticket Resale Investment Scam
On April 29,2019, the SEC charged James Siniscalchi, a New York City man with continuing a previously charged scheme, stealing millions of dollars from investors who were allegedly falsely promised their funds would be used for the purchase and… Read More
