Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

December 3, 2022

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6780/securities-industry-commentator/

Sexism on Wall Street: The Cowardly Silence of FINRA's Board of Governors (BrokeAndBroker.com Blog)

NOTICE TO CFP® PROFESSIONALS REGARDING FINANCIAL ADVICE ABOUT CRYPTOCURRENCY-RELATED ASSETS

Virtu Financial Sues SEC Citing Violation of the Freedom of Information Act

Virtu Financial, Inc., Plaintiff, v. United States Securities and Exchange Commission, Defendant (Complaint, SDNY)

FTX Was Not Regulated: John Reed Stark (Bloomberg Crypto Show)

Wall Street Whistleblowers Tip Off SEC -- But Hear Nothing Back (Bloomberg, DEEP DIVE by John Holland)

DOJ RELEASES

Corporate Insider Sentenced to 10 Years' Imprisonment for Conspiring with Long Island Boiler Room to Pump and Dump Stock on Unsuspecting Elderly Investors / Illegal Stock Promotion and Manipulation Scheme Cost Victims Millions of Dollars (DOJ Release)

Former Seattle area resident convicted of conspiracy and multiple counts of mail and wire fraud plus various bankruptcy fraud counts / Operated a Ponzi scheme under the guise of a work-at-home offering (DOJ Release)

Former Florida Attorney Indicted For Racketeering Relating To Operation Of His Tallahassee Law Firm And Investment Companies (DOJ Release)

Two British Citizens Arrested For Conspiracy To Defraud Investors In Fraudulent Co-Working Space Business / James Robinson and David Kennedy, Principals of United Property Group, Arrested in Spain For Fraudulently Soliciting Millions of Dollars From Investors in Bar Works Inc. and Related Entities (DOJ Release)

Wisconsin Man Indicted for $35 Million Bank Fraud Scheme (DOJ Release)

Man Pleads Guilty To Defrauding Customers Who Bought Cryptocurrency-Mining Computers And Miner Hosting Services (DOJ Release)

Virginia man pleads guilty to defrauding the United States (DOJ Release)

Home Health Aide Sentenced to 57 Months in Prison for Stealing U.S. Savings Bonds from Elderly Woman (DOJ Release)

Las Vegas Man Sentenced To Prison For Fraud Scheme Targeting Church Funds (DOJ Release)

Former CEO Of Iconix Brand Group Convicted At Trial Of Accounting Fraud (DOJ Release)

SEC RELEASES

SEC Charges Additional Parties in Fraudulent Office Space Investment Scheme (SEC Release)

SEC Charges New Defendant and Adds Whistleblower Impeding and Retaliation Claims in $149 Million Offering Fraud Case (SEC Release)

SEC Obtains Final Judgments Against Index Manager and Friend for Insider Trading (SEC Release)

SEC Obtains Final Judgment Against Former Owner of California Film Distribution Company Charged with Defrauding Publicly Traded Fund (SEC Release)

In the Matter of the Application of Laurence G. Allen for Review Taken by FINRA (SEC Order Denying Motion for a Stay)

SEC Orders $20 Million Whistleblower Award to Claimant 1, Claimant 2, and Claimant 3 But Denies Award to Claimant 4

Order Determining Whistleblower Award Claims

SEC Orders $20 Million Whistleblower Award to Claimant 1 But Denies Award to Claimant 2 and Claimant 5

Order Determining Whistleblower Award Claims

Remarks at the ICI Global Asset Management Asia Forum by SEC Commissioner Mark T. Uyeda

CFTC RELEASES

Federal Court Orders Rhode Island Man to Pay More than $2.8 Million in Restitution for Virtual Currency Fraud (CFTC Release)

Statement of Commissioner Kristin N. Johnson Regarding CFTC Consent Order of $2.8 Million in Restitution for Virtual Currency Fraud / A Call to Action: Let's Use Our Existing Authority to Stop Crypto-Fraud

FINRA RELEASES

FINRA Fines and Suspends Firms for GPB Disclosures

In the Matter of FSC Securities Corporation, Royal Alliance Associates, Inc., SagePoint Financial, Inc. and Woodbury Financial Services, Inc., Respondents (FINRA AWC)

FINRA Fines and Suspends Rep for OBA

In the Matter of Sean C. Gordon, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Facebook Posts

In the Matter of Richard L. Langer, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Falsifying Rep Code

In the Matter of Barry Lee Garapedian, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Forging Customer Signatures

In the Matter of Todd Michael Seymour, Respondent (FINRA AWC)

FINRA Censures and Fines Firm and Rep for Suitability Supervision

In the Matter of FFEC Wealth Partners LLC (Respondent) (formerly, First Financial Equity Corporation) and Jeffrey Scott Graves, Respondents (FINRA AWC)

FINRA Arbitration Panel Awards Customers over $11.5 Million in Damages Against Morgan Stanley

In the Matter of the Arbitration Between Dr. Anthony E. Nowak, Individually and as Trustee of the Anthony E. Nowak Revocable Trust, Claimants, v. Morgan Stanley, Respondent (FINRA Arbitration Award)

FINRA Arbitration Panel Recommends "Defemetion" Expungement for "Call Avoidance" (or not?)

In the Matter of the Arbitration Between Jack A. Thomas, Claimant, v. USAA Investment Management Company, USAA Financial Advisor, Inc., and USAA Investment Services Company, Respondents (FINRA Arbitration Award)

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Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

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