Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

October 9, 2021

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/6095/securities-industry-commentator/

Troubling FINRA Regulatory Case: Quis custodiet ipsos custodes? (BrokeAndBroker.com Blog)

New Jersey-based trader admits to involvement in options trading scheme (DOJ Release)

SEC Charges Webcast Host for Role in Market Manipulation Scheme (SEC Release)

Former SCANA CEO Sentenced to Two Years for Defrauding Ratepayers in Connection with Failed Nuclear Construction Project (DOJ Release)

CFTC Orders ICE Clear Europe Limited to Pay a $450,000 Civil Monetary Penalty for Violating Customer Protection Regulations (CFTC Release)

FINRA NAC Affirms OHO Panel's Findings But Increases Bars From Three to Four

FINRA Department of Enforcement, Complainant, v. Jorge A. Reyes, Respondent (FINRA National Adjudicatory Council Decision)

The Ronald H. Filler Institute for Financial Services Law / New York Law School presents: "A Conversation About Current Issues Facing the Global Financial Industry"

PLI Broker/Dealer Regulation and Enforcement 2021 (Speech by Gurbir Grewal, Director, SEC Division of Enforcement)

Testimony Before the United States House of Representatives Committee on Financial Services by SEC Chair Gary Gensler / Oct. 5, 2021 (BrokeAndBroker.com Blog)

FINRA NAC Affirms OHO But Eliminates Heightened Supervision (BrokeAndBroker.com Blog)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/6094/securities-industry-commentator/

Troubling FINRA Regulatory Case: Quis custodiet ipsos custodes? (BrokeAndBroker.com Blog)

The Ronald H. Filler Institute for Financial Services Law / New York Law School presents: "A Conversation About Current Issues Facing the Global Financial Industry"

October 18, 2021 at 4 P.M. - 6 P.M. EDT / New York Law School Events Center

Deputy Attorney General Lisa O. Monaco Announces National Cryptocurrency Enforcement Team (DOJ Release)

SEC Obtains Emergency Relief Freezing Assets and Halting an Alleged Ongoing Investment Advisory Fraud (SEC Release)

FINRA Fines and Suspends Rep for Equity Indexed Annuities (EIA) Activities

In the Matter of William A. Fochi, Jr., Respondent (FINRA AWC)

Robinhood Prevails in FINRA Customer Arbitration

In the Matter of the Arbitration Between Mohammad N. Naser, Claimant, v. Robinhood Financial, LLC and Robinhood Markets, Inc., Respondents (FINRA Arbitration Award)

FINRA Arbitrator Pens Compelling Expungement Rationale Citing Tax Advice

In the Matter of the Arbitration Between John Andrew Randolph, Claimant, v. UBS Financial Services Inc., Respondent (FINRA Arbitration Award)

FINRA Arbitrator Pens Compelling Expungement Rationale Citing Market Crash

In the Matter of the Arbitration Between Thomas Joseph Brough, Claimant, v. Wedbush Securities Inc., Respondent (FINRA Arbitration Award)

Testimony Before the United States House of Representatives Committee on Financial Services by SEC Chair Gary Gensler / Oct. 5, 2021 (BrokeAndBroker.com Blog)

FINRA NAC Affirms OHO But Eliminates Heightened Supervision (BrokeAndBroker.com Blog)

UPDATES:

Former SCANA CEO Sentenced to Two Years for Defrauding Ratepayers in Connection with Failed Nuclear Construction Project (DOJ Release)

CFTC Orders ICE Clear Europe Limited to Pay a $450,000 Civil Monetary Penalty for Violating Customer Protection Regulations (CFTC Release)

PLI Broker/Dealer Regulation and Enforcement 2021 (Speech by Gurbir Grewal, Director, SEC Division of Enforcement)

New Jersey-based trader admits to involvement in options trading scheme (DOJ Release)

SEC Charges Webcast Host for Role in Market Manipulation Scheme (SEC Release)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/6093/securities-industry-commentator/

Testimony Before the United States House of Representatives Committee on Financial Services by SEC Chair Gary Gensler / Oct. 5, 2021 (BrokeAndBroker.com Blog)

Two New Jersey Men Arrested And Charged With Securities Fraud For Scheme To Defraud Investors In Hemp Company / Vitaly Fargesen and Igor Palatnik Misappropriated Approximately $4 Million of Investor Funds (DOJ Release)

SEC Charges Hemp Company and Co-Founders With Fraud (SEC Release)

Loves Park Investment Advisor Pleads Guilty to Fraud Charge for Misappropriating More Than $950,000 in Customer Funds (DOJ Release)

Charlotte Man Pleads Guilty To Wire Fraud For Return Scheme Targeting Amazon (DOJ Release)

Essex County Man Admits Conspiring to Fraudulently Obtain More Than $700,000 (DOJ Release)

Buffalo Man Charged With International Email Scam Targeting Businesses And Defrauding Victims Out Of Hundreds of Thousands Of Dollars (DOJ Release)

FINRA NAC Affirms OHO But Eliminates Heightened Supervision (BrokeAndBroker.com Blog)

SEC Obtains Emergency Relief Freezing Assets and Halting an Alleged Ongoing Investment Advisory Fraud (SEC Release)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/6092/securities-industry-commentator/

Beverlywood Man Pleads Guilty to Securities Fraud, Admitting Massive Ponzi that Falsely Claimed to License Foreign Film Rights (DOJ Release)

Kansas Man Sentenced to Three Years in Prison for Engaging in $900,000 Foreign Currency Ponzi Scheme (DOJ Release)

FINRA Sanctions Merrill Lynch, Pierce, Fenner & Smith Incorporated for MSRB Violations

In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Respondent (FINRA AWC)

FINRA NAC Affirms OHO But Eliminates Heightened Supervision (BrokeAndBroker.com Blog)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/6091/securities-industry-commentator/

FINRA NAC Affirms OHO But Eliminates Heightened Supervision (BrokeAndBroker.com Blog)

Founder of Russian Bank Pleads Guilty to Tax Fraud / Admits to Concealing More Than $1 Billion in Assets when Renouncing U.S. Citizenship and Agrees to Pay More Than $500 Million Penalty (DOJ Release)

SEC Charges Webcast Host for Role in Market Manipulation Scheme (SEC Release)

SEC Charges Investment Adviser, Affiliated Broker-Dealer and Their President for False and Misleading Statements and Omissions (SEC Release)

Chicago Man Charged in Federal Court With Engaging in Unauthorized Trading That Caused $30 Million in Losses (DOJ Release)

SEC Charges Rogue Trader Who Bankrupted His Firm (SEC Release)

SEC Awards Over $1.7Million to Whistleblower But Denies Award to Second Claimant

Order Determining Whistleblower Award Claims

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