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

Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

July 29, 2023

Securities Industry Commentator:
A legal, regulatory, and compliance feed
curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/7124/securities-industry-commentator/

SEC Chief Accountant Lays a Cobblestone on the Road to Hell Paved with Good Intentions (BrokeAndBroker.com Blog)

A Lawyer Wearing Two Hats Raises The Ire Of The SEC In Motion To Compel Production Of Documents (BrokeAndBroker.com Blog)

A Not So Final Closing of the Purchase of a Broker Dealer (BrokeAndBroker.com Blog)

FINRA Has Some 'Splaining To Do As Arbitrators Deny Gender Discrimination Claims (BrokeAndBroker.com Blog)

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Departments of Justice, Commerce and Treasury Issue Joint Compliance Note on Voluntary Self-Disclosure of Potential Violations

Following Hearing, Senators Warren, Scott Call Out Conflicts of Interest at Federal Reserve, Reiterate Need For an Independent Inspector General / “We learned in that hearing about a troubling matter involving a clear conflict of interest related to your salary.”

U.S. Justice Dept corporate crime policies survive challenge in Cognizant case (Bloomberg by Alison Frankel)

California Man Pleads Guilty To Securities Fraud For Orchestrating An Investment Scheme (DOJ Release)

British Investor And Billionaire Businessman Joseph Lewis Charged With Insider Trading And Financial Fraud / Lewis Allegedly Provided Confidential Information About Publicly Traded Companies to his Romantic Partners, Personal Assistants, Friends, and Private Pilots, Including Patrick O’Connor and Bryan “Marty” Waugh, Who Are Also Charged (DOJ Release)

Orange County Businessman Pleads Guilty to Fraudulently Obtaining Over $5.2 Million by Bogus Promises of His Company’s Purported IPO (DOJ Release)

Long Island Investment Advisers Indicted for Defrauding Clients of Millions of Dollars / Defendants Misappropriated Funds of Dozens of Clients, Some of Whom Are Elderly and Disabled (DOJ Release)

Woman Facing Federal Charges for Swindling More Than $300,000 From Her Grandmother (DOJ Release)

California Man Sentenced To More Than Four And A Half Years In Prison For Directing $2.6 Million Fraud Scheme From Prison / Defendant admitted using personal information of at least 136 people to submit fraudulent unemployment insurance claims on behalf of others (DOJ Release)

Real Estate Investor Sentenced in $3 million Wire and Bankruptcy Fraud Scheme (DOJ Release)

SEC Obtains Judgments Against Principals of Investment Firm Charged with Fraudulently Misleading Investors (SEC Release)

SEC Charges Florida Resident with Operating $35 Million Ponzi Scheme that Targeted Church Members (SEC Release)

SEC Charges Investor Joseph C. Lewis and Associates with Insider Trading / Lewis tipped his then-girlfriend and private jet pilots with material nonpublic information (SEC Release)

SEC Charges Former Pfizer Statistician with Insider Trading Ahead of Covid-19 Announcement / Employee and Friend Traded Ahead of Pfizer's "Game-Changer" Announcement On the Success of Its Paxlovid Trial (SEC Release)

SEC Proposes Reforms Relating to Investment Advisers Operating Exclusively Through the Internet (SEC Release)

SEC Proposes New Requirements to Address Risks to Investors From Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers (SEC Release)

SEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies (SEC Release)

And now a word from the SEC Chair and Commissioners - - Statements about rule proposals

The Potential Pitfalls of Purported Crypto “Assurance” Work by SEC Chief Accountant Paul Munter

CFTC Charges Tennessee Husband and Wife Realtors for Operating a $6 Million Digital Assets Commodity Pool Scheme (CFTC Release)

FINRA Censures and Fines Concorde Investments Services for Private Placements
In the Matter of Concorde Investment Services, LLC, Respondent (FINRA AWC)

FINRA Correspondence With Next Bridge Hydrocarbons, April-June 2023

FINRA Fines and Suspends Rep for Providing Misleading Arbitration Testimony
In the Matter of Howard Stuart Rothman, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Unauthorized Signatures
In the Matter of James Floyd Garraway, Respondent (FINRA AWC)

FINRA Censures and Fines LPL Financial for Supervision of Wires and Checks
In the Matter of LPL Financial LLC, Respondent (FINRA AWC)

FINRA Censures and Fines OCP Capital, LLC for Owner's Misuse of Credit Card
In the Matter of OCP Capital, LLC, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Five OBAs
In the Matter of Gregory E. Collins, Respondent (FINRA AWC)

Facilitation, Formation and Feedback: FINRA’s Reg Notice on the Capital Raising Process (FINRA Unscripted Podcast)

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