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

Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

June 10, 2023

Securities Industry Commentator:
A legal, regulatory, and compliance feed
curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/7080/securities-industry-commentator/

READ the FULL-TEXT INDICTMENT:

United States of America, v. Donald J. Trump and Waltine Nauta, Defendants (Indictment, United States District Court for the Southern District of Florida)

Wells Fargo Refuses Wife's Demand To Liquidate Joint Account and Send Her 50% of Proceeds (BrokeAndBroker.com Blog)

Federal Circuit Court Says Price Isn't Right In UBS Whistleblower Retaliation (BrokeAndBroker.com Blog)

Branch Manager and FINRA Fail to See Red Flags of Unsuitability Involving Senior Customers (BrokeAndBroker.com Blog)

Physically Delivering Digital Assets In Order To Satisfy CFTC's Observation (BrokeAndBroker.com Blog)

Bill Singer, Publisher of the Securities Industry Commentator and the BrokeAndBroker.com Blog, Calls for BOYCOTT of 2023 FINRA Elections

SCOTUS Says in Jack Daniels/Bad Spaniels Trademark Dispute That Use of a Mark Does Not Count As Noncommercial Just Because It Parodies, or Otherwise Comments On, Another’s Products.
JACK DANIEL’S PROPERTIES, INC. v. VIP PRODUCTS LLC (Opinion, United States Supreme Court)

Agencies issue final guidance on third-party risk management (Joint Press Release: Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency)

OneTaste sexual wellness executives charged by U.S. with forced labor
(Reuters)

SEE PHOTO OF MARTIAN LANDSCAPE NOW KNOWN AS NYC!

DOJ RELEASES

Former Branch Manager of Boston Bank Pleads Guilty to Bank Fraud Scheme (DOJ Release)

Denton County Financial Advisor Guilty of Federal Violations (DOJ Release)

Former Co-Owner Of Minnesota Vikings Sentenced To 75 Months In Prison For Providing Shadow Banking Services To Cryptocurrency Exchanges (DOJ Release)

SEC RELEASES

SEC Obtains Final Judgment Against Investment Adviser Tarek D. Bahgat (SEC Release)

“We’ve Seen This Story Before” (Remarks before the Piper Sandler Global Exchange & Fintech Conference by SEC Chair Gary Gensler

SEC Adopts Amendments to Remove References to Credit Ratings From Regulation M (SEC Release)

SEC Adopts Rules to Prevent Fraud in Connection with Security-Based Swaps Transactions and Prevent Undue Influence over CCOs (SEC Release)

Blah, blah, blah -- various SEC Chair/Commissioner Statements

SEC Charges Financial Advisor with Fraud for Stealing from Elderly Customers to Pay Personal Expenses (SEC Release)

SEC Seeks Emergency Relief to Ensure Binance.US Customers’ Assets are Protected (SEC Release)

SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency / Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program (SEC Release)

SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao / Charges include operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities. (SEC Release)

CFTC RELEASES

Federal Court Orders Washington Rancher to Pay $1 Million Penalty for Phantom Cattle Scheme, Position Limit Violations (CFTC Release)

FINRA RELEASES

FINRA Censures and Fines TD Ameritrade Clearing, Inc. for Non-compliant Confirmations
In the Matter of TD Ameritrade Clearing, Inc., Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Falsifying Customer Signatures With the Customers' Permission
In the Matter of Kale KH Young, Respondent (FINRA AWC)

FINRA Censures and Fines UnionBanc Investment Services, LLC for Discovery Abuses During Arbitration by Former Rep
In the Matter of UnionBanc Investment Services, LLC, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Executing Trades Without Obtaining Prior Authorization or Consent of Customers
In the Matter of Jeremy Jefferson Jacobson, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Willful Failure to Timely Disclose Felony Charge
In the Matter of Adam C. Ellison, Respondent (FINRA AWC)

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