Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW - BrokeAndBroker.com

Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

February 4, 2023

Securities Industry Commentator:
A legal, regulatory, and compliance feed
curated by veteran Wall Street lawyer Bill Singer
https://www.rrbdlaw.com/6864/securities-industry-commentator/

The FINRA Regulatory Mule Kicks Defrauded Customers In the Head (BrokeAndBroker.com Blog)

The SEC Toys With A Dead FINRA Expungement Mouse for 50 Months (BrokeAndBroker.com Blog)

Federal Appellate Court Affirms Dismissal of Wells Fargo and FINRA (BrokeAndBroker.com Blog)

Ex-Allianz Manager’s Legal Fight Tests DOJ White-Collar Strategy (Bloomberg Law by Ben Penn)

Individual Who Portrayed Himself as Experienced Stock Trader Sentenced to 30 Months' Imprisonment for Defrauding Investor / Defendant Also Ordered to Pay $224,500 in Restitution to the Victim (DOJ Release)

Alleged Perpetrator Of $100 Million Crypto Market Manipulation Scheme To Make Initial Appearance In The Southern District Of New York (DOJ Release)

Three Individuals Charged with Operating Multimillion-Dollar Elder Fraud Scheme (DOJ Release)

U.S. Promoter of Foreign Cryptocurrency Companies Sentenced to 60 Months in Prison for His Role in Multi-Million Dollar Securities Fraud Scheme (DOJ Release)

Former Chief Financial Officer Pleads Guilty for Failing to Pay Over $3.6M in Employee Tax Withholdings and for Pocketing $130,000 from his Employer’s Bank Account (DOJ Release)

Accountant Ordered to Pay Restitution and Serve Probation for Fraud Scheme Targeting D.C. Property Management Company (DOJ Release)

Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls Related to Complaints of Workplace Misconduct and Violating Whistleblower Protection Rule (SEC Release)

SEC Obtains Final Judgment in Microcap Fraud Litigation (SEC Release)

SEC Obtains Judgment Against Texas-Based Technology Company and Its CEO for Fraud & Misappropriation of Investor Funds (SEC Release)

SEC Charges Nevada-Based Investment Adviser for Conducting Fraudulent "Cherry-Picking" Scheme (SEC Release)

SEC Obtains Final Judgments Against Alleged Perpetrators of Fraudulent Pyramid Scheme (SEC Release)

SEC Charges CEO of Microcap Public Company for Defrauding Investors (SEC Release)

It's Not Sewer Service But Social Media Service Still Doesn't Cut It When It Comes To An SEC Order Instituting Proceedings
In the Matter of Lisa Gordon (SEC Order Regarding Service)

SEC Proposes Updates to Ethics Rules Governing Securities Trading by Personnel

SEC Denies Whistleblower Award to Claimant
Order Determining Whistleblower Award Claim

SEC Awards $1 Million Whistleblower Award to Claimant 1 But Denies Award to Claimant 2
Order Determining Whistleblower Award Claim

SEC Publishes Annual Staff Report on Nationally Recognized Statistical Rating Organizations

Big “Issues” in the Small Business Safe Harbor: Remarks at the 50th Annual Securities Regulation Institute by SEC Commissioner Caroline A. Crenshaw

CFTC RELEASES

FINRA RELEASES

FINRA Fines and Suspends Rep for Private Securities Transactions
In the Matter of Archie Abel Blood, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Impersonating Former LPL Customer
In the Matter of Robert J. Boschke, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep For Reg BI Misconduct
In the Matter of Todd Anthony Cirella, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Impersonating Former LPL Customer
In the Matter of Edward Scott Short, Respondent (FINRA AWC)

FINRA Fines and Suspends Sales Supervisor for Falsifying Rep Code
In the Matter of Steven G. Brettler, Respondent (FINRA AWC)

FINRA Censures and Fines Raymond James for 1.85 Million Inaccurate Customer Confirmations from 2014 to 2022
In the Matter of Raymond James & Associates, Inc., Respondent (FINRA AWC)

FINRA Arbitrators Slam Raymond James with Over $15 million in Damages in Wells Fargo Raiding Case
In the Matter of the Arbitration Between Wells Fargo Advisors, LLC, Claimant, v. Raymond James Financial Services, Inc., Kent Jackson Rhoades, Steven Bettenhausen, David Matty, Janet Schmeski, Michael Stockton, and Logan Stone, Respondents (FINRA Arbitration Award 20-02796)

FINRA Arbitration Panel Hits Credit Suisse With a Net Award of Over $1.3 million in Breach of Contract Case
In the Matter of the Arbitration Between James D. Garrity, Claimant, v. Credit Suisse Securities (USA) LLC, Respondent (FINRA Arbitration Award)

Wells Fargo Clearing Sues Commerce Brokerage. Commerce Brokerage Sues Wells Fargo Clearing. The Two Cases Are Consolidated Into One FINRA Arbitration Case. Apparently, It's All About Interference Or Not With Customers' Rights To Choose A Financial Advisor. The FINRA Award Offers No Explanations or Rationale.

Permalink