SEC Says Unregistered Dealer Almagarby’s Convertible Notes Are Toast
On August 17, 2020, Judge Marcia G. Cooke, persuaded by the SEC’s arguments, handed down an order granting the SEC’s motion for…
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The SEC charges Giuliani Associates Lev Parnas and David Correia
On February 4, 2021, the U.S. Securities and Exchange Commission announced charges against two associates of Rudy Giuliani, the former New York…
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Two Recidivists That Met Behind Bars Busted for Securities Fraud
On January 8, 2021, the Securities and Exchange Commission announced settled charges against a Utah corporation, its principals, Mark W Wiseman and…
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SEC Amends Rule 144 for Convertible Notes and Unregistered Dealers
On December 22, 2020, the Securities and Exchange Commission (“SEC”) voted to propose amendments to Rule 144 to eliminate tacking for shares…
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Nine Individuals Indicted in Global Resource Energy Inc (GBEN) “Pump and Dump” Scheme
On December 17, 2020, the US Department of Justice unsealed an Indictment against nine individuals charged in a "pump and dump" stock…
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SEC Approves NYSE Plan for Direct Listings
On Tuesday, the US Securities and Exchange Commission (SEC) approved a proposed plan by the New York Stock Exchange (NYSE) to let…
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SEC Charges The Cheesecake Factory For Misleading COVID-19 Disclosures
On Friday, the Securities and Exchange Commission (the "SEC") announced that it had settled charges against The Cheesecake Factory Incorporated (CAKE) for…
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Nasdaq Announces New Proposed Listing Requirements to Advance Diversity
On December 1, 2020, the Nasdaq Stock Market LLC filed a proposal with the U.S. Securities and Exchange Commission ("SEC") to adopt…
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Congress passes a Bill that forces Chinese stocks to meet US accounting standards
The U.S. House of Representatives unanimously passed legislation on Wednesday that would kick Chinese companies off U.S. stock exchanges if they do…
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Securities Lawyer, Thomas Craft And Disbarred Attorney, Richard Rubin Charged by SEC for Fraudulent Legal Opinions
Securities Lawyer, Thomas Craft And Disbarred Attorney, Richard Rubin Charged by SEC for Fraudulent Legal Opinions
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OTCQX Listing and Eligibility – OTC Markets Lawyer
OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 11,606 U.S. and…
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What is a SPAC?
SPACs, which stand for special purpose acquisition companies, are similar to blank check companies. The SPAC does an Initial Public Offering (an…
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Possible replacements for Jay Clayton as SEC Chair
With Jay Clayton stepping down as the Chairman of the Securities and Exchange Commission at the end of the year, president-elect Joe…
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Jay Clayton won’t be sitting on his hands during his last month as the SEC Chair
On November 16, 2020, Jay Clayton, Chairman of the Securities and Exchange Commission, announced that he would be stepping down at the…
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Jeffrey D. Martin Charged with Manipulating Publicly Traded Stocks in Multiyear “Pump and Dump” Securities Fraud Scheme Worth Over $19 Million
On November 19, 2020, the United States Attorney William M. McSwain filed a superseded Indictment against Jeffrey D Martin, 61, of Orlando,…
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SEC Charges Benja and Andrew J. Chapin With Defrauding Investors
Today, the Securities and Exchange Commission (the "SEC") charged a San Francisco-based e-commerce startup and its chief executive officer with misleading investors…
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SEC Warns Broker-Dealers of Risks Associated with Offshore Omnibus Accounts Transacting in “Penny Stocks”
Last week, the SEC Division of Trading and Markets published a staff bulletin highlighting various risks for broker-dealers arising from certain transactions…
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SEC Enforcement Actions Decline in 2020
According to the annual report published by the Division of Enforcement of the U.S. Securities and Exchange Commission (the "SEC"), there were…
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Caveat Emptor Securities Hit with a Big Setback
Last week, E*TRADE, a subsidiary of Morgan Stanley, which offers an electronic trading platform to trade financial assets including common stocks, announced…
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SEC Awards Two Unique Whistleblower Awards
On November 13, 2020, the Securities and Exchange Commission (the “SEC”) announced an award of over $1.1 million to a whistleblower whose…
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SEC Charges John McAfee, Jimmy Watson, Jr with Fraudulently Touting ICOs
On October 6, 2020, the Securities and Exchange Commission (the “SEC”) charged businessman and computer programmer, John McAfee, for promoting investments in…
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Edward T. Kelly, Aceto Corporation Controller, Charged with Insider Trading
Edward T. Kelly, Aceto Corporation, Insider Trading, Lakewood Ranch Florida
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SEC Obtains Final Judgment Against Nicholas Tornello, Hill International, Inc
On October 1, 2020, the U.S. District Court for the Eastern District of Pennsylvania entered a final consent judgment against Nicholas Tornello,…
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SEC Amends Rule 15c2-11, Form 211 Amendments
On September 16, 2020, SEC amended Exchange Act Rule 15c2-11 and Form 211. Changes to Rule 15c2-11 were proposed last year. The OTC…
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AmTrust and Ronald E. Pipoly, Jr Charged with Faulty Loss Reserves Disclosures
On June 17th, 2020, the SEC charged international insurance company AmTrust Financial Services, Inc. and its former CFO Ronald E. Pipoly Jr.…
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SEC Obtains Final Judgments Against Daniel Adams, Michael Flanders, Spiderworx Media LLC, and An L.A. Minute LLC
The SEC has obtained final judgments against movie director and convicted felon Daniel Adams, music producer Michael Flanders, and companies under their…
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SEC Says Toxic Financing Lender and Dilution Funder John Fierro is a Dealer Not a Trader
Dilution Funders and Dilution Financings Challenged by SEC
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