Last week the U. S. Securities and Exchange Commission judged that David Lubin, a New York-based attorney, may no longer appear or practice before the SEC, and may no longer act as an officer or director of a public…
Whether you are an investment adviser in the private sector or one of the SEC’s own employees, the Commission will not hesitate to charge you with securities fraud if they determine you have committed misconduct, regardless of your association….
Beginning in the spring of 2010 and continuing through 2013, Serofim Muroff and his companies, Blackhawk Manager, LLC and ISR Capital, LLC, sold securities in Blackhawk Gold, LLC and Quartzburg Gold, LLC, to over 280 foreign investors through the…
Last year, in an effort to give companies more flexibility to engage in intrastate offerings through websites and social media without having to register their securities offerings with the federal government, the Securities Exchange Commission (“SEC”) created a new…
The number of advisers considering breaking away from a traditional broker-dealer business model is on the rise. According to the latest research from Echelon partners, last year alone, more than 400 teams broke away from their broker-dealers to go…
As part of FINRA’s ongoing efforts to crackdown on cybersecurity failures, the brokerage industry’s self-regulatory organization issued $14.4 million in fines to a dozen firms – including companies in the Wells Fargo & Co. and RBC Capital networks, RBS Securities Inc.,…
On October 24, 2016, citing a recent increase in SEC enforcement actions pertaining to Rule 21F-17 of the Securities Exchange Act of 1934 (“Exchange Act”), the SEC issued a National Exam Program Risk Alert regarding examinations of investment advisers’…
Earlier this month, Health Net Inc. agreed to pay a $340,000 penalty for illegally using severance agreements that required employees leaving the company to waive their right to obtain monetary awards from the SEC’s whistleblower program. According to the…
Earlier this week, four private fund advisers affiliated with Apollo Global Management agreed to a $52.7 million settlement. During an investigation by the SEC, the advisers were found to have misled fund investors about fees and a loan agreement,…
Brad Bennett, FINRA’s Executive Vice President and Chief of Enforcement, said, “A key element of retail investor protection is the aggressive pursuit of brokers who churn and excessively trade customer accounts. FINRA has no tolerance for brokers who place…