Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

June 4, 2022

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6478/securities-industry-commentator/

Let's Go to the Video: SEC Gamifies Wall Street Regulation During Pandemic And Economic Crisis (BrokeAndBroker.com Blog)

Former Tennessee Securities Broker-Dealer Sentenced To 78 Months' Imprisonment For Embezzling $5.7 Million From Employee Pension Benefit Plan (DOJ Release)

Los Angeles Man Sentenced to Federal Prison for Bank Fraud and Identity Theft Scheme (DOJ Release)

U.K. National Sentenced to 3 Years in Prison for $8.3 Million Scam That Claimed Precious Metals Could Be Extracted from 'Ancient Slag' (DOJ Release)

Three Charged with Conspiracy to Defraud Five People of $3.25 Million in Investment Fraud Scheme (DOJ Release)

Man Who Ran $1.4 Million Ponzi Scheme from Prison Sentenced to 8 More Years (DOJ Release)

Tulsa Man Sentenced for Defrauding Investor and Banks of Millions (DOJ Release)

Former Bank Employee Admits $8 Million Fraud and Bribery Scheme (DOJ Release)

Houston area unlicensed cryptocurrency business results in conviction (DOJ Release)

Jury finds Canal Winchester man guilty on all counts in romance scam money laundering conspiracy (DOJ Release)

CFTC Charges Gemini Trust Company for Making Material False or Misleading Statements and Omissions to the Commission (CFTC Release)

SEC Charges Global Steel Pipe Manufacturer with Violating Foreign Corrupt Practices Act / Tenaris to pay $78 million to settle charges related to Brazilian bribery scheme (SEC Release)

SEC Charges Former CCO of Investment Adviser Who Misappropriated Funds (SEC Release)

SEC Obtains Final Judgments Against Crowdfunding Issuer and Its CEO (SEC Release)

SEC Charges Former Executive of Network Infrastructure Company with Accounting Fraud (SEC Release)

SEC Charges Louisiana Town and Former Mayor with Fraud in Two Municipal Bond Deals / Town's Municipal Advisor and its Owner also charged (SEC Release)

SEC Obtains Final Judgment Against Tech Employee Charged with Insider Trading (SEC Release)

SEC Charges New York Grocery Supermarket Chain and CEO for Financial Fraud (SEC Release)

SEC Obtains Final Judgments Against Illinois Company and Its President for Affinity Fraud Targeting Christian Investors (SEC Release)

FINRA Appoints Michael Solomon Senior Vice President of Examinations (FINRA Release)

FINRA Orders Merrill Lynch, Pierce, Fenner & Smith, Inc. to Pay $15.2 Million in Restitution (FINRA Release)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6477/securities-industry-commentator/

Let's Go to the Video: SEC Gamifies Wall Street Regulation During Pandemic And Economic Crisis (BrokeAndBroker.com Blog)

Three Charged with Conspiracy to Defraud Five People of $3.25 Million in Investment Fraud Scheme (DOJ Release)

Man Who Ran $1.4 Million Ponzi Scheme from Prison Sentenced to 8 More Years (DOJ Release)

Tulsa Man Sentenced for Defrauding Investor and Banks of Millions (DOJ Release)

Houston area unlicensed cryptocurrency business results in conviction (DOJ Release)

Jury finds Canal Winchester man guilty on all counts in romance scam money laundering conspiracy (DOJ Release)

SEC Charges Louisiana Town and Former Mayor with Fraud in Two Municipal Bond Deals / Town's Municipal Advisor and its Owner also charged (SEC Release)

SEC Obtains Final Judgment Against Tech Employee Charged with Insider Trading (SEC Release)

SEC Charges New York Grocery Supermarket Chain and CEO for Financial Fraud (SEC Release)

SEC Obtains Final Judgments Against IIIinois Company and Its President for Affinity Fraud Targeting Christian Investors (SEC Release)

FINRA Appoints Michael Solomon Senior Vice President of Examinations (FINRA Release)

FINRA Orders Merrill Lynch, Pierce, Fenner & Smith, Inc. to Pay $15.2 Million in Restitution (FINRA Release)

FINRA Censures and Fines Suntrust Robinson Humphrey, Inc. n/k/a Truist Securities, Inc. Overstated Trading Volume

In the Matter of SunTrust Robinson Humphrey, Inc. (n/k/a Truist Securities, Inc.), Respondent (FINRA AWC)

FINRA Fines and Suspends Former National Securities Corp's CEO for Flipper Penalty Bid

In the Matter of David Charles Levine, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Tax Liability of Variable Annuities Withdrawals

In the Matter of Philip Norris Smith, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Tax Liability of Variable Annuities Withdrawals

In the Matter of Camille Cordova, Respondent (FINRA AWC)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6476/securities-industry-commentator/

Letter from United States Senate Committee on Banking, Housing, and Urban Affairs Chairman Sherrod Brown to Wells Fargo & Company President/Chief Executive Officer Charles W. Scharf / May 31, 2022

Manhattan Man Pleads Guilty To Defrauding Victims Of Millions Of Dollars Through Offering Fictional Investment Opportunities / Ephraim Ullmann Defrauded Multiple Investors With False Statements About Loans and Letters of Credit (DOJ Release)

Former CEO Indicted for Misleading Investors About COVID-19 Rapid Test Kits / Investors Lost More Than $116 Million (DOJ Release)

SEC Charges Company and Former CEO with Misleading Investors about Sale of Covid-19 Test Kits (SEC Release)

Vacaville Man Sentenced to 8 Years in Prison for Billion Dollar DC Solar Ponzi Scheme (DOJ Release)

SEC Charges Former North Carolina Investment Adviser and Public Company CEO with Fraudulent Self-Dealing (SEC Release)

SEC Charges Former Astrazeneca Employee with Insider Trading (SEC Release)

SEC Charges Investment Adviser and Its Principals with Fraud (SEC Release)

In the Matter of the Application of Lek Securities Corporation for Review of Action Taken by National Securities Clearing Corporation and The Depository Trust Company (SEC Order Denying Motion for Stay and Scheduling Briefs)

CFTC Charges Florida Man with Fraudulent Solicitation of Over $800,000 and Misappropriation in Futures Scheme / Federal Court Ordered Cox to Pay Over $900,000 in Restitution and Penalties in Prior CFTC Fraud Action (CFTC Release)

FINRA Fines and Suspends Former National Securities Corp's CEO for Flipper Penalty Bid

In the Matter of David Charles Levine, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Tax Liability of Variable Annuities Withdrawals

In the Matter of Philip Norris Smith, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Tax Liability of Variable Annuities Withdrawals

In the Matter of Camille Cordova, Respondent (FINRA AWC)

FINRA Arbitrator Denies Expungement of One Item but Recommends Expungement of Second

In the Matter of the Arbitration Between David John Kimura, Claimant, v. LPL Financial LLC, Respondent (FINRA Arbitration Award)

AML Update: The Latest Trends and Effective Practices (FINRA Unscripted)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6475/securities-industry-commentator/

Letter from United States Senate Committee on Banking, Housing, and Urban Affairs Chairman Sherrod Brown to Wells Fargo & Company President/Chief Executive Officer Charles W. Scharf / May 31, 2022

SEC Charges Former Astrazeneca Employee with Insider Trading (SEC Release)

SEC Charges Investment Adviser and Its Principals with Fraud (SEC Release)

FINRA Arbitrator Denies Expungement of One Item but Recommends Expungement of Second

In the Matter of the Arbitration Between David John Kimura, Claimant, v. LPL Financial LLC, Respondent (FINRA Arbitration Award)

AML Update: The Latest Trends and Effective Practices (FINRA Unscripted)

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