Securities Law - Securities & Going Public Lawyers

SEC Staff Issues Guidance and Investor Bulletin on Robo-Advisers

On February 23, 2017 the Securities and Exchange Commission (the “SEC”) published information and guidance concerning robo-advisers for investors and the financial services industry on the fast-growing use of robo-advisers, which are registered investment advisers that use computer… Read More

James P. Toner Jr Settles Fraud Charges – Posted by Brenda Hamilton

The Securities and Exchange Commission (SEC) on February 14, 2017 announced that James P. Toner Jr, a purported real estate investment manager has agreed to pay more than a half-million dollars to settle charges that he pocketed investor… Read More

SEC Brings Cases Related to Disclosures During Battles for Corporate Control

On February 14, 2017, the Securities and Exchange Commission (the “SEC”) announced two SEC enforcement actions involving disclosure violations that deprived investors of material information during battles for corporate control of publicly traded companies. In one case, the… Read More

Chinese Citizens Gain Massive Profits From Insider Trading on Comcast-Dreamworks Acquisition

  On February 10, 2017 the Securities and Exchange Commission (SEC) announced that it obtained an emergency court order freezing brokerage accounts holding more than $29 million in illegal profits from insider trading in advance of the April… Read More

Financial Adviser Funds Lavish Lifestyle by Stealing from Client Accounts

  The Securities and Exchange Commission (SEC) on February 3, 2017 charged Barry Connell, an investment adviser representative with stealing approximately $5 million from client accounts by initiating unauthorized wire transfers and issuing checks to third parties to… Read More

Sidoti & Company Fined For Compliance and Trading Surveillance Failures

  The Securities and Exchange Commission (SEC) on February 13, 2017 announced that Sidoti & Company LLC, a New York-based brokerage firm has agreed to pay a $100,000 penalty to settle charges of compliance and trading surveillance failures.Federal… Read More

SEC Sues Investment Adviser Who Turned Thief

  On February 2, 2017 the Securities and Exchange Commission (the “SEC”) charged Sentinel Growth Fund Management and its founder Mark J. Varacchi  with stealing money from investors to settle a private lawsuit among other things. The SEC alleges… Read More

Morgan Stanley Settles Charges Related to ETF Investments

On February 14, 2017, the SEC announced that Morgan Stanley Smith Barney has agreed to pay an $8 million penalty and admit wrongdoing to settle charges related to single inverse ETF investments it recommended to advisory clients. The SEC’s… Read More

NASAA and SEC Sign Crowdfunding Agreement

On February 17, 2017 the Securities and Exchange Commission (the “SEC”) the North American Securities Administrators Association (“NASAA”) signed a crowding funding agreement. The agreement sets forth the rules to facilitate intrastate crowdfunding offerings and regional offerings take effect. The agreement… Read More

Former Shell Company, Terminus Energy and Its Officers Charged With Securities Fraud

On February 14, 2017 the Securities and Exchange Commission (the “SEC) charged Terminus Energy, Inc and four corporate officers with securities fraud. According to the SEC, Terminus Energy and its four officers misleading investors about the research, development,… Read More