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

Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

April 8, 2023

Securities Industry Commentator:
A legal, regulatory, and compliance feed
curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6972/securities-industry-commentator/

In 2023 FINRA Settles With Goldman Sachs Over Mismarked Short Sales Dating Back to 2015 (BrokeAndBroker.com Blog)

FINRA Arbitration Award Gives Us A Case of Gas From Chipotle Bean Burrito Puts (BrokeAndBroker.com Blog)

Steven Schwartz, Plaintiff, v. Allstate Insurance Company, Defendants (Memorandum and Order, United States District Court for the Eastern District of New York)

Goldman Sachs gets $3M FINRA fine for 60 million short sale errors (Financial Planning by Victoria Zhuang)

Latest SEC budget request emphasizes an enforcement agenda (Financial Planning by Dan Shaw)

Industry Group Calls on Finra to Drop Series 7 Sponsorship Requirement (Financial IQ by Sam Del Rowe)

Financial Professionals Coalition, Ltd. JOIN TODAY -- FREE MEMBERSHIP

FULL TEXT: THE PEOPLE OF THE STATE OF NEW YORK
-against- DONALD J. TRUMP, Defendant. (Indictment, SUPREME COURT OF THE STATE OF NEW YORK/ COUNTY OF NEW YORK)

State Securities Regulators Announce $10 Million Settlement with Robinhood for Failing Investors (NASAA Release)

State Regulators Stop Fraudulent Artificial Intelligence Investment Scheme (TSSB Release)

Cryptocurrency Founder “Bruno Block” Pleads Guilty To Tax Crimes (DOJ Release)

Nonprofit owner charged with misappropriating funds as the fiduciary to a veteran (DOJ Release)

Final Defendant Sentenced for Million-Dollar Credit Card Fraud Scheme Involving Arlington Coffee Shop (DOJ Release)

Criminal Marketplace Disrupted in International Cyber Operation / Genesis Market Offered Access to Data Stolen From Over 1.5M Compromised Computers Worldwide and Was a Key Enabler of Ransomware (DOJ Release)

Former Start-Up CEO Charged In $175 Million Fraud / Former CEO of Frank Charged with Making False Claims and Submitting False Data to J.P. Morgan Chase in $175 Million Acquisition Fraud Scheme (DOJ Release)

California Man Charged in $23 Million Fraudulent Investment Scheme (DOJ Release)

Former Fresno Bank Employee Pleads Guilty to Stealing More Than $70,000 from Customers’ Accounts (DOJ Release)

Nevada Attorney Indicted In Multimillion-Dollar Ponzi Scheme (DOJ Release)

SEC Obtains Over $1 Million Final Judgment Against Three Individuals in Microcap Fraud Scheme Targeting Retail Investors (SEC Release)

In the Matter of the CONSOLIDATED ARBITRATION APPLICATIONS For Review of Actions Taken by FINRA (SEC Opinion)

SEC Charges South Carolina Resident with Operating $20 Million Ponzi Scheme (SEC Release)

SEC Charges Founder of Frank with Fraud in Connection with $175 million Sale of Student Loan Assistance Company (SEC Release)

SEC Charges Merrill Lynch for Failing to Disclose Foreign Exchange Fees to Clients (SEC Release)

SEC Charges Chatham Asset Management and Founder Anthony Melchiorre for Improper Fixed Income Securities Trading (SEC Release)

SEC Obtains Final Judgments Against Two Additional Defendants in Codesmart Fraud (SEC Release)

SEC’s OMWI FY 2022 Annual Report Highlights the Agency’s Diversity, Equity, and Inclusion Initiatives and Progress

FINRA Bars Rep For Borrowing from Customers, Outside Business Activity, and Settling Away
In the Matter of William F. Winchester III, Respondent (FINRA AWC)

FINRA Censures and Fines SpeedRoute for New Issues Market Orders
In the Matter of SpeedRoute LLC , Respondent (FINRA AWC)

FINRA Fines and Suspends Rep For Private Securities Transaction
In the Matter of Larry Eugene Norton, Respondent (FINRA AWC)

FINRA Arbitration Panel Awards Customer Over $456,000 Against Merrill Lynch in Trust Asset Distribution Dispute
In the Matter of the Arbitration Between Estate of Robert G. Gard III, Claimant, v. Merrill Lynch Pierce Fenner & Smith Inc., Respondent (FINRA Arbitration Award)

FINRA Arbitration Panel Awards Wells Fargo Customer Over $475,000 in Dispute Over Options Trading And Sale of MCD Stock
In the Matter of the Arbitration Between Norman H. Williams, Claimant, v. Wells Fargo Clearing Services, LLC and Frederick Robert Hughes, Respondents (FINRA Arbitration Award)

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