Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

April 11, 2020

It's times like these, you learn to live again . . .

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5155/securities-industry-commentator/

COVID-19 throws a curve ball at RIA M&A market, gut-punching valuations and causing fence-sitters to resolve to get the hell out, but Q1 prices hold their own / M&A rainmakers hedge their bets on how deep COVID-19 will drive cuts to RIA sale prices, although first quarter market has been stable (RIABiz by Oisin Breen)

It Ain't Over Till It's Over As Martinovich Appeals Continue (BrokeAndBroker.com Blog)

FINRA RMBS Arbitration Claims Against Merrill Lynch Dismissed In the Matter of the Arbitration Between Linda Marcelli, Claimant, v. Merrill Lynch, Pierce, Fenner & Smith, Respondent (FINRA Arbitration Decision)

FINRA Fines and Suspends Wedbush Principal Over Margin Maintenance Supervision. In the Matter of James Richards, Respondent (FINRA AWC)

Small businesses sue China citing coronavirus response / California small businesses seeking $8T in damages (Fox Business News by Stephanie Pagones)

Foreign National and American Trader Settle Fraud Charges in EDGAR Hacking Case (SEC Release)

Chris Cuomo shares picture that embarrasses brother (CNN)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5156/securities-industry-commentator/

FINRA Statement on SEC's OCIE Risk Alerts for Reg BI and Form CRS (FINRA Release)

The Fed is lifting Wells Fargo's asset cap so it can help lend to small business (CNBC by Jeff Cox)

Farmers Are Panic-Buying to Keep America's 95 Million Cows Fed / Fears of feed mill closures and trucking delays are driving the market. (Bloomberg by Isis Almeida, Agnieszka de Souza and Megan Durisin)

Coronavirus kills Florida crops, California farmers see issues too / COVID-19 has caused restaurants to shutter, leading to fewer buyers for fresh fruits and veggies (Fox Business News)

SEC Provides Temporary, Conditional Relief for Business Development Companies Making Investments in Small and Medium-sized Businesses (SEC Release)

In Response to Self-Executing Congressional Mandates, SEC Adopts Offering Reforms for Business Development Companies and Registered Closed-End Funds (SEC Release)

FINRA Bars Rep Over Power of Attorney for Elderly Client with Dementia. In the Matter of Steven Jun Lu, Respondent (FINRA AWC)

Accountant from Silver City, New Mexico pleads guilty to federal wire fraud and identity theft charges (DOJ Release)

Cryptocurrency Miner Features Fraudulent COVID-19 Charity Sales Pitch (TSSB Release)

SEC Charges Seven in Microcap Fraud Scheme (SEC Release)

SEC Charges Former Executives of Apparel Company with Accounting Fraud (SEC Release)

[In]Securities Guest Blog: Hello In There by Aegis Frumento Esq (BrokeAndBroker.com Blog)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5154/securities-industry-commentator/

Greed and Fear Collide: Wall Street Calls Traders Back to Office (Bloomberg by Michelle F Davis, Max Abelson, and Donal Griffin)

SEC Office of Compliance Inspections and Examinations Publishes Risk Alerts Providing Advance Information Regarding Inspections for Compliance with Regulation Best Interest and Form CRS (SEC Release)

Grocery workers are beginning to die of coronavirus (Washington Post by Abha Bhattarai)

Pence Tells U.S. Food Workers 'Do Your Job' as They Fall Ill (Bloomberg by James Attwood and Isis Almeida)

Rice prices surge to 7-year high as coronavirus sparks stockpiling (Bloomberg by Huileng Tan)

Familiar Names Resurface In SEC Unauthorized Trading Scheme

(BrokeAndBroker.com Blog)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5153/securities-industry-commentator/

Personal note from Bill Singer -- Not the time for FINRA to ZOOM through witnesses' rights

Chris Cuomo: Here's the secret to kicking this virus (CNN / Cuomo Prime Time)

Woman charged with falsely claiming officer accessed her bank account from International Space Station (DOJ Release)

Cantor Fitzgerald Agrees to Pay $3.2 Million to Settle Charges for Providing Deficient Blue Sheet Data (SEC Release)

Protect Your Wallet -- and Your Health -- from Pandemic Scammers / FBI Exec Discusses COVID-19-Related Schemes (FBI Release)

CFTC Issues COVID-19 Customer Advisory on Fee Scams (CFTC Release)

No Membership Port In A Regulatory Storm For Newport Coast Securities (BrokeAndBroker.com Blog)

Key Food Prices Are Surging After Virus Upends Supply Chains (Bloomberg by Agnieszka de Sousa, Ruth Olurounbi, and Pratik Parija)

Wayfair shares surge 37% as coronavirus drives sales of office furniture and home decor (CNBC by Lauren Thomas)

Former Investment Adviser Settles Fraud Action (SEC Release)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5152/securities-industry-commentator/

Coffee Growers Fret Lost Output in 'Ticking Time Bomb' Brazil (Bloomberg by Fabiana Batista)

Coronavirus may cause some food shortages, warns government task force (Yahoo by Alexander Nazaryan and Jana Winter)

How to properly wipe down your groceries (CNN)

Coronavirus: How CCOs Can Manage (Virtually) (FinOps Report by Chris Kentouris)

Forex Trader Touts 'Recession-Proof' Haven in Markets Roiled By COVID-19 (TSSB Release)

SEC Charges Four Individuals in Unauthorized Trading Scheme (SEC Release)

SEC Obtains Judgment Against Massachusetts Biotechnology Executive for Defrauding Investors (SEC Release)

SEC Charges Former Pastor and His Wife with Operating an Affinity Fraud Targeting African-American Community (SEC Release)

SEC Charges Beverly Hills-Based Entertainment Technology Company in $45 Million Offering Fraud (SEC Release)

FINRA Imposes Fine and Suspension for OBA Via LLC

In the Matter of Barry Robert Bode, Respondent (FINRA AWC)

FINRA Imposes Fine and Suspension for Website Presenting Projects Seeking Funding