An irreverent Wall Street Blog

Securities Industry Commentator by Bill Singer Esq

December 8, 2023

from our companion publication: 
 
 
 
 
 
 
 
 
 

DOJ

Real Estate Promoter Pleads Guilty To Defrauding Investors (DOJ Release)

Founder and Executive of Prior2IPO Indicted in Investment Fraud / Raymond Pirrello, Jr., Misrepresented to Investors “No Fee” Investment Opportunities That Actually Carried Significant Upfront Fees (DOJ Release)

Arizona Man Charged with Defrauding Local Physician Out of $207,000 (DOJ Release)

Former FBI Agent Trainee Pleads Guilty To Insider Trading Scheme (DOJ Release)

Former Principals Of Private “Pre-IPO” Funds Charged In Connection With $386 Million Fraud Scheme / Michael Castillero, Francine Lanaia, and Brian Martinsen Are Alleged to Have Defrauded Investors in Straightpath Funds by Selling Shares in Non-Public Companies at Arbitrarily Inflated Prices and Pocketing Hidden Markups (DOJ Release)

Vancouver Man to Plead Guilty to Securities Fraud Conspiracy / Defendant allegedly conspired to facilitate pump-and-dumps of microcap securities using nominee entities under his control (DOJ Release)

Former Insider At Major Financial Services Organization Admits Involvement In Multimillion-Dollar Insider Trading Ring (DOJ Release)

Recidivist Fraudster Sentenced To 212 Months In Prison In Connection With $40 Million Ponzi Scheme And Other Frauds (DOJ Release)

United Kingdom National Pleads Guilty to Hacking, Securities Fraud, and other Cybercrimes / Scheme Netted More than $6 Million (DOJ Release)

SEC

SEC Charges Five Unregistered Brokers, Four Companies in Widespread Pre-IPO Fraud Scheme / Scheme resulted in more than $525 million in unregistered offerings, netting defendants more than $88 million in illicit profits from undisclosed fees (SEC Release)

“They Are Merely the Agents”Prepared Remarks before the American Bar Association by SEC Chair Gary Gensler

SEC Obtains Judgments Against Former Hemp Company Executives for Fraudulent Offerings (SEC Release)

SEC Obtains Final Judgment Against CodeSmart Defendant for Role in Alleged Offering Fraud (SEC Release)

SEC Office of the Investor Advocate Publishes Its Policy Recommendations on Mandatory Arbitration and Registered Index-Linked Annuities Research

SEC Denies Whistleblower Award to Claimant 
Order Determining Whistleblower Award Claim

SEC Denies Whistleblower Award to Claimant 
Order Determining Whistleblower Award Claim

SEC Charges Investment Adviser with Custody Rule and Related Violations (SEC Release)

SEC Charges Mallinckrodt for Disclosure and Accounting Failures (SEC Release)

Statement on PCAOB Enforcement Actions Regarding China-based Firms by SEC Chair Gary Gensler

SEC Charges Phoenix-Area Real Estate Fund Adviser Jonathan Larmore with $35 Million Fraud / Larmore also charged with stock manipulation for false WeWork tender offer (SEC Release)

SEC Obtains Final Judgments Against Former Public Company Officers and Directors, Concluding the Litigation in Fraudulent Filings and Pump-And-Dump Scheme (SEC Release)

SEC Obtains Judgments Against Three Defendants for Insider Trading Prior to Pharmaceutical Merger (SEC Release)

 
Statements by SEC Chair and Commissioners on Rule 192

CFTC

FINRA

FINRA Censures and Fines Windmill Group for Excessive Commissions
In the Matter of The Windmill Group, Inc., Respondent (FINRA AWC)

FINRA Censures and Fines SoFi Securities LLC, M1 Finance LLC, Sogo Trade, Inc., and Open to the Public Investing, Inc. for Fully Paid Securities Lending Supervision

FINRA Fines and Suspends Rep for Discretionary Trading and Untimely U4 Disclosure
In the Matter of Matthew Mierzycki, Respondent (FINRA AWC)

FINRA Bars Rep for Unauthorized Series 7 Materials and Providing False Information
In the Matter of David Korsnack, Respondent (FINRA AWC)

FINRA Suspends Rep for Willful Untimely Disclosure of Felony Charges
In the Matter of Jacob David Frankel, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Inaccurate Rep Code
In the Matter of Daniel H. Vatterott, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Inaccurate Rep Code
In the Matter of Justin H. Parkhurst, Respondent (FINRA AWC)

FINRA Censures and Fines The Benchmark Company for Failing to Restrict Flow of Potentially Material Nonpublic Research Information
In the Matter of The Benchmark Company, LLC , Respondent (FINRA AWC)

FINRA Censures and Fines Actinver for Supervision of Pre-Arranged Trades
In the Matter of Altema Securities, Inc., formerly known as Actinver Securities, Inc., Respondent (FINRA AWC)

FINRA Censures and Fines TIAA-CREF for Customer Complaints Reporting
In the Matter of TIAA-CREF Individual & Institutional Services, LLC, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Variable Annuities Recommendations
In the Matter of Malay Kumar, Respondent (FINRA AWC)

FINRA Fines BofA Securities $24 Million for Treasuries Spoofing and Related Supervisory Failures / Firm Engaged in 717 Instances of Spoofing Activity (FINRA Release)

FINRA Fines and Suspends Rep for Impersonations
In the Matter of John Patterson Corey, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for E-Commerce and Lead Generation OBAs
In the Matter of Ian James Prukner, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for E-Commerce and Lead Generation OBAs
In the Matter of Melton Weaver III, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Electronic Signatures
In the Matter of Jacob Pae, Respondent (FINRA AWC )

FINRA Fines and Suspends Rep for Inaccurate Customer Information
In the Matter of Ronald Morse, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Changed Rep Codes
In the Matter of Michael MacLean, Respondent (FINRA AWC)

FINRA Censures and Fines TD Private Client Wealth LLC for Supervision of Correspondence and Communications
In the Matter of TD Private Client Wealth LLC, Respondent (FINRA AWC)

FINRA Censures and Fines Cowen for NMS Reports and Supervision
In the Matter of  Cowen and Company(in its own right and as successor-in-interest to Cowen Prime Services LLC), Respondent  (FINRA AWC)

FINRA Arbitration Panel Grants Motion for Stipulated Award
In the Matter of the Arbitration Between NYLife Securities LLC and
New York Life Insurance Company, Claimants, v. James Myers, Respondent (FINRA Arbitration Award) 

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