Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

November 12, 2022

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6755/securities-industry-commentator/

FTX Files for Bankruptcy

FINRA Arbitrators Slam Losing Respondents with Hearing Fees in Breach of Contract Dispute (BrokeAndBroker.com Blog)

TD Ameritrade Loses FINRA Customer Arbitration Citing Inaccurate Statements and Forced Liquidation (BrokeAndBroker.com Blog)

The Gensler SEC's Rulemaking Reach Exceeds Its Grasp (BrokeAndBroker.com Blog)

United States Supreme Court: SECURITIES AND EXCHANGE COMMISSION V. COCHRAN (Oral Argument)

United States Supreme Court: AXON ENTERPRISE, INC. V. FEDERAL TRADE COMMISSION (Oral Argument)

11Cir Affirms Wells Fargo Rep Required to Arbitrate

Wade Roberts, Plaintiff/Appellant, v. Wells Fargo Clearing Services, LLC, Defendant/Appellee (Opinion, 11Cir)

DOJ RELEASES

Two Defendants Charged For Nationwide Online Marketing Scheme That Fraudulently Enrolled Customers In Credit Monitoring Monthly Subscription / The Defendants Fraudulently Induced Over 2.7 Million Visits to the Defendants' Websites and Enrolled Approximately 169,000 Customers in Credit Monitoring Services Under False Pretenses, Resulting in Approximately $6.8 Million in Revenue (DOJ Release)

Chief Information Officer of Publicly Traded Pharmaceutical Company Charged for Insider Trading Scheme (DOJ Release)

San Antonio Couple Sentenced in Restaurant Investment Fraud Scheme (DOJ Release)

Michigan Man Sentenced to 3 1/2 Years in Prison for Role in 'SIM Swapping' that Led to Account Takeovers and $122,000 in Losses (DOJ Release)

Fraudster Pleads Guilty to Participating in an $800,000 Elder Fraud Scam / Anderson Posed as a Bail Bondsman and Courier to Retrieve Fraud Proceeds Directly from Victims (DOJ Release)

Colorado man who defrauded Montana family of nearly $400,000 in African gold investment scheme sentenced to 27 months in prison (DOJ Release)

California Man Extradited From Australia To Face Charges For Investment Scheme (DOJ Release)

U.S. Attorney Announces Historic $3.36 Billion Cryptocurrency Seizure And Conviction In Connection With Silk Road Dark Web Fraud / In November 2021, Law Enforcement Seized Over 50,676 Bitcoin Hidden in Devices in Defendant JAMES ZHONG's Home; ZHONG Has Now Pled Guilty to Unlawfully Obtaining that Bitcoin From the Silk Road Dark Web in 2012 (DOJ Release)

SEC RELEASES

SEC Announces Additional Charges in Scheme to Trade Ahead of Pharma Tender Offer (SEC Release)

SEC Charges Pharmaceutical Co. Chief Information Officer in $8 Million Insider Trading Scheme (SEC Release)

SEC Granted Summary Judgment Against New Hampshire Issuer of Crypto Asset Securities for Registration Violations (SEC Release)

SEC Charges Creator of Global Crypto Ponzi Scheme and Three US Promoters in Connection with $295 Million Fraud / Trade Coin Club raised money from more than 100,000 investors worldwide (SEC Release)

SEC Obtains Fraud Injunction and Penny Stock Bar Against Microcap Stock Promoter (SEC Release)

SEC Denies Whistleblower Award to Two Claimants

Order Determining Whistleblower Award Claims

SEC Awards Joint $1.6 Million Whistleblower Award to Three Claimant And A $1.6 Million Whistleblower Award to Fourth Claimant

Order Determining Whistleblower Award Claims

SEC Denies Whistleblower Award to Claimant

Order Determining Whistleblower Award Claims

SEC Denies Whistleblower Award to Claimant

Order Determining Whistleblower Award Claims

SEC Denies Whistleblower Award to Claimant

Order Determining Whistleblower Award Claims

SEC Denies Whistleblower Award to Claimant

Order Determining Whistleblower Award Claims

CFTC RELEASES

FINRA RELEASES

FINRA Censures and Fines Firm and Fines and Suspends AMLCO for Compliance Program and Supervisory System

In the Matter of Clearview Trading Advisors, Inc. and Gregg H. Ettin, Respondents (FINRA AWC)

FINRA Fines and Suspends Rep for Having Customers Sign 171 Blank/Incomplete Forms

In the Matter of Ellen Gayle Reynard, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Borrowing and Repaying About $7.3 Million from Customers Without Notice to Firm

In the Matter of Theodore M. Serure, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Borrowing from Customer and OBAs

In the Matter of Christopher Eriksson, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Outside Accounts, PSTs, and OBA

In the Matter of Joel D. Plasco, Respondent (FINRA AWC)

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Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

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