The Wall Street Legal & Regulatory Feed
Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW
December 24, 2022
TD Ameritrade Customer Sues Over Alleged Wrongful Margin Sell-Out (BrokeAndBroker.com Blog)
FINRA Sued in the Wrong Place At the Wrong Time Affirms Federal Circuit Court (BrokeAndBroker.com Blog)
FINRA and Citigroup Global Markets Not SHO Enough (BrokeAndBroker.com Blog)
Federal Court Denies Reconsideration of FINRA Referral Letter Cited In Federal Insider Trading Appeal (BrokeAndBroker.com Blog)
CFPB Orders Wells Fargo to Pay $3.7 Billion for Widespread Mismanagement of Auto Loans, Mortgages, and Deposit Accounts / Company repeatedly misapplied loan payments, wrongfully foreclosed on homes and illegally repossessed vehicles, incorrectly assessed fees and interest, charged surprise overdraft fees, along with other illegal activity affecting over 16 million consumer accounts (CFPB Release)
DOJ RELEASES
United States Attorney Announces Extradition Of FTX Founder Samuel Bankman-Fried To The United States And Guilty Pleas Of Former CEO Of Alameda Research And Former Chief Technology Officer Of FTX (DOJ Release)
Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang
East Rochester Man Pleads Guilty to Defrauding Elderly Woman of Over $83,000 (DOJ Release)
Former Rochester Man Going To Prison For More Than 20 Years For His Role In Ponzi And COVID-19 Fraud Schemes (DOJ Release)
Two Biotech CEOs Charged in Securities Fraud Schemes (DOJ Release)
Honeywell UOP to Pay Over $160 Million to Resolve Foreign Bribery Investigations in U.S. and Brazil (DOJ Release)
Chandler Man Sentenced to 33 Months for Defrauding Investors (DOJ Release)
U.S. Attorney Announces Arrest Of Lamor Whitehead For Fraud, Extortion, And False Statements (DOJ Release)
SEC RELEASES
SEC Approves the 2023 Public Company Accounting Oversight Board Budget and Accounting Support Fee (SEC Release)
PCAOB’s Ballooning Budget by SEC Commissioner Hester M. Peirce
Ian Freeman Convicted On All Counts Relating To Bitcoin Money Laundering Scheme (DOJ Release)
SEC Obtains Judgment Against Individual in Multi-Million Dollar Securities Offering Fraud (SEC Release)
SEC Charges Caroline Ellison and Gary Wang with Defrauding Investors in Crypto Asset Trading Platform FTX (SEC Release)
SEC Obtains Final Judgments Against Individual and Entity in Multi-Million Dollar International Fraud Scheme (SEC Release)
SEC Charges Issuer, CEO, and Former CTO for $2.6 Million Unregistered Crypto Asset Securities Offering (SEC Release)
SEC Wins $10.2 Million Judgment Against Unregistered Penny Stock Dealer (SEC Release)
SEC Charges Financial Services Professional and Associate in $47 Million Front-Running Scheme (SEC Release)
SEC Charges Florida Media Company and CEO in Offering Fraud (SEC Release)
SEC Charges Former CEO of Biotech Company CytoDyn with Fraud, Insider Trading / Research Firm CEO Who Interacted with FDA on Company’s Behalf Also Charged (SEC Release)
SEC Charges Honeywell with Bribery Schemes in Algeria and Brazil (SEC Release)
SEC Charges Undisclosed Control Person and His Alter-Ego Entity in Penny Stock Scheme (SEC Release)
SEC Awards Over $29 Million and $8 Million Whistleblower Award to Claimant
Order Determining Whistleblower Award Claims
CFTC RELEASES
CFTC Charges Alameda CEO and Alameda and FTX Co-Founder with Fraud in Action Against Sam Bankman-Fried and his Companies / Caroline Ellison and Gary Wang Acknowledge Liability (CFTC Release)
Federal Court Orders California Precious Metals Firm and Its Owners to Pay $38 Million for Commodity Fraud and Registration Violations (CFTC Release)
CFTC Orders Minnesota Futures Commission Merchant to Pay $6.5 Million for Anti-Money Laundering, Risk Management, Recordkeeping, and Supervision Violations (CFTC Release)
Statement of Commissioner Kristin N. Johnson Regarding The Importance of Futures Commission Merchants’ Compliance and The Need to Heighten the Consequences of Failing to Comply
Concurring Statement of Commissioner Goldsmith Romero on the Importance of Protecting Commodity Markets Against Excessive Speculation in CFTC v. Commodity Broker CHS Hedging
FINRA RELEASES
FINRA Bars Rep For Borrowing $200,000 From Senior Customer
In the Matter of John Nicholas Terzis, Respondent (FINRA AWC)
FINRA Fines and Suspends Goldman Sachs Rep For Creating Fictitious Documents/E-mails
In the Matter of [REDACTED], Respondent (FINRA AWC)
FINRA Censures and Fines Wells Fargo Securities for Overstating Trade Volume
In the Matter of Wells Fargo Securities, LLC, Respondent (FINRA AWC)
Joseph Gunnar & Co. Hit With About $1.55 Million FINRA Arbitration Award In Commissions Dispute
In the Matter of the Arbitration Between William Lawrence Barkow, Claimant, v. Joseph Gunnar & Co. LLC Joseph Anthony Alagna Stephan A. Stein, Respondents (FINRA Arbitration Award)