Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW
March 11, 2023
The Financial Professionals Coalition: Join Us Today (BrokeAndBroker.com Blog)
GUEST BLOG: [In]Securities: No Silver Linings for Silver Edge: How Not to Sell Pre-IPO Funds by Aegis Frumento Esq
Blackbook Capital Versus FINRA: A Decade of Battle (BrokeAndBroker.com Blog)
JOIN the Financial Professionals Coalition, Ltd
Attorney General James Continues Crackdown on Unregistered Cryptocurrency Platforms / AG James Sues KuCoin for Allowing Investors in New York to Buy and Sell Crypto without Registering with the State / Lawsuit Marks AG James’ Eighth Action to Rein in Shadowy Cryptocurrency Platforms (NYAG Release)
Series 7 Exam: can I take it without a sponsor? (YouTube Video from Capital Advantage Tutoring / Kenneth Finnen)
Morgan Stanley Seeks TRO Against Advisor Who Skipped to LPL /
In a court filing, the wirehouse said the advisor took his client list and has been poaching clients, in violation of his employment agreement. (Financial Advisor IG by Glenn Koch)
How the SEC says twin brothers, 35, swindled clients for $5 million (Financial Planning by Tobias Salinger)
DOJ RELEASES
Former Wall Street Precious Metal Traders Sentenced for Wire Fraud (DOJ Release)
Justice Department’s Ongoing Section 8 Enforcement Prevents More Potentially Illegal Interlocking Directorates / Antitrust Division Continues to Focus on Competitors Sharing Company Directors in Violation of Section 8 of the Clayton Act (DOJ Release)
Colorado Man Charged with Sports Cards Fraud Scheme (DOJ Release)
Operators And Attorney Of Global Multi-Million-Dollar Cryptocurrency Ponzi Scheme "AirBit Club" Plead Guilty (DOJ Release)
Baton Rouge Man Sentenced to 57 Months in Federal Prison for Fraudulent Investment Scheme (DOJ Release)
Cape Coral Caretakers Plead Guilty To Stealing More Than Half A Million Dollars From Elderly Victim (DOJ Release)
Man Sentenced to 30 Months in Federal Prison for Defrauding Investors of 2 Companies, Evading Taxes (DOJ Release)
Central Florida Man Pleads Guilty To Committing Almost $20 Million In Fraud (DOJ Release)
Four Individuals Arrested for Investment Fraud Scheme Targeting Hawaii Residents (DOJ Release)
SEC RELEASES
Statement Regarding the Commission’s Disapproval of a Proposed Rule Change to List and Trade Shares of the VanEck Bitcoin Trust by SEC Commissioner Hester M. Peirce and SEC Commissioner Mark T. Uyeda
SEC Settles Insider Trading Charges Against Spouse of Corporate Insider (SEC Release)
SEC Sues Utah-Based Crypto Asset Company, Its Founder, and a Recidivist Salesperson for Fraud and Registration Violations (SEC Release)
SEC Charges Rio Tinto plc with Bribery Controls Failures (SEC Release)
SEC Charges Pokerstars Parent Company with FCPA Violations (SEC Release)
SEC Files Emergency Action Against Miami Investment Adviser BKCoin and Principal Kevin Kang for Orchestrating $100 Million Crypto Fraud Scheme (SEC Release)
SEC Awards About $500,000 Whistleblower Award to Joint Claimants
Order Determining Whistleblower Award Claim
Meeting the Challenges and Fulfilling The Promise of Global Financial Markets: Remarks before the Institute of International Bankers by SEC Commissioner Mark T. Uyeda
CFTC RELEASES
Federal Court Orders Texas Energy Broker, Its Owners, and Affiliated Trading Firms to Pay Nearly $3 Million For Fraud, Trading Against Customers Without Consent and Failure to Supervise (CFTC Release)
FINRA RELEASES
FINRA Censures and Fines SageTrader For Reg SHO Issues
In the Matter of SageTrader, LLC, Respondent (FINRA AWC)
FINRA Censures and Imposes $3 Million Fine on Webull Financial for Options Trading Supervision
In the Matter of Webull Financial LLC, Respondent (FINRA AWC)
FINRA Fines and Suspends BD/RIA Rep for Variable Annuities Recommendations
In the Matter of Gary Mark Goldberg, Respondent (FINRA AWC)
FINRA Censures and Imposes $500,000 Fine on Transamerica Capital for Failure to Register Over 400 Individuals
In the Matter of Transamerica Capital, Inc, Respondent (FINRA AWC)
FINRA Fines and Suspends Rep For Receiving Unemployment Benefits
In the Matter of Joseph Louis Menotti, Respondent (FINRA AWC)
FINRA Arbitration Panel Dismisses Something Involving Something Against Wells Fargo by Prominent Whistleblower Analyst
In the Matter of the Arbitration Between David William Maris, Claimant, v. Wells Fargo Securities, LLC, Respondent (FINRA Arbitration Award)
The $3.4 Million Tip: (FINRA Blog / FINRA Departments of Member Supervision and Enforcement)