Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

October 15, 2022

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6707/securities-industry-commentator/

FINRA Censures and Fines Former Raymond James SVP for Signing Letters of Credit for Customer (BrokeAndBroker.com Blog)

Keeping Up With Kenny -- Not the Kardashians (BrokeAndBroker.com Blog)

A Lack of Finality: The Trevor Saliba Saga at FINRA and the SEC and Again at FINRA

(BrokeAndBroker.com Blog)

Wells Fargo suit against ex-lawyer 'unusual,' could have 'chilling effect' (Financial Planning by Victoria Zhuang)

OFAC Settles with Bittrex, Inc. for $24,280,829.20 Related to Apparent Violations of Multiple Sanctions Programs (Treasury Department Release)

US DEPARTMENT OF LABOR ANNOUNCES PROPOSED RULE ON CLASSIFYING EMPLOYEES, INDEPENDENT CONTRACTORS; SEEKS TO RETURN TO LONGSTANDING INTERPRETATION / Misclassification continues to deny workers' rightful wages; hurt businesses, economy

Individual Merger Suits Replacing Class Action in Strategy Shift (Bloomberg Law by Matthew Bultman)

DOJ RELEASES

Broward County Couple Charged in Alleged Ponzi Scheme (DOJ Release)

Fake Home Loans Land Perpetrators in Prison (DOJ Release)

Detroit Equity Fund Owner Charged with Defrauding Investors of Over $27 million (DOJ Release)

Santa Barbara Man Sentenced to Over 11 Years in Federal Prison for $14 Million Ponzi Scheme, Tax Evasion, ID Theft and Other Felonies (DOJ Release)

Former Comptroller Of Investment Adviser Firm Sentenced To 80 Months In Multimillion-Dollar Investment Fraud (DOJ Release)

SEC RELEASES

In the Matter of the Application of DAVID E. JENNINGS For Review of Action Taken by FINRA (SEC Order)

New Jersey Real Estate Development Firm and Four Executives Charged With $600 Million Ponzi-like Fraud (SEC Release)

SEC Obtains Court Order to Enforce Investigative Subpoenas Against Two Principals of Broadway Musical Fund (SEC Release)

SEC Obtains Final Judgment Against Fraud Guarantee Co-Founder for Engaging in Fraudulent Securities Offering (SEC Release)

SEC Awards Claimant About $825,000 Whistleblower Award

Order Determining Whistleblower Award Claims

Staff FAQ Relating to Investment Adviser Consideration of DEI Factors

Statement on Staff's FAQ Relating to Investment Adviser Considerations of DEI Factors by SEC Commissioner Caroline A. Crenshaw and SEC Commissioner Jaime Lizárraga

Raising the Bar on Diversity, Equity and Inclusion (Speech by SEC Commissioner Jaime Lizárraga)

SEC Adopts Rule Amendments to Modernize How Broker-Dealers Preserve Electronic Records and Enhance the Electronic Recordkeeping Requirements for Security-Based Swap Entities (SEC Release)

Statement on Updates to Electronic Recordkeeping Requirements for Broker-Dealers and Security-Based Swap Entities by SEC Commissioner Caroline A. Crenshaw

Statement on Amended Recordkeeping Requirements by SEC Commissioner Jaime Lizárraga

Burying the Technologically Primitive WORM: Open Meeting on Broker-Dealer Electronic Recordkeeping Requirements by SEC Commissioner Hester M. Peirce

Statement on Electronic Recordkeeping Requirements for Broker-Dealers, Security-Based Swap Dealers, and Major Security-Based Swap Participants by SEC Commissioner Mark T. Uyeda

Ecosystems and IPOs: Remarks at the Meeting of the Small Business Capital Formation Advisory Committee (Speech by SEC Commissioner Hester M. Peirce)

SEC Reopens Comment Periods for Several Rulemaking Releases Due to Technological Error in Receiving Certain Comments (SEC Release)

CFTC RELEASES

Federal Court Orders California Man and His Company to Pay Over $7.6 million for Commodity Pool Fraud (CFTC Release)

Federal Court Orders Texas Fraudulent Forex Trader and His Company to Pay Over $940,000 (CFTC Release)

FINRA RELEASES

Heightened Threat of Fraud: FINRA Alerts Firms to Recent Trend in Fraudulent Transfers of Accounts Through ACATS (FINRA Regulatory Notice)

FINRA Censures and Fines Rep for PST and OBA

In the Matter of Steven Albert Bellino, Respondent (FINRA AWC)

FINRA Censures and Fines Rep for Willful Violation of Best Interest Obligation Under Regulation BI

In the Matter of Charles V. Malico, Respondent (FINRA AWC)

In the Matter of the Arbitration Between Dan Shalhoub, Claimant, v. Worden Capital Management LLC, Laidlaw & Company (UK) LTD, Jamie John Worden, Philip Michael Connors, and Franz Helmut Lambert, Respondents (FINRA Arbitration Award)

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Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

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