Securities Law Blogs
Fallout from Landmark Insider Trading Decision Begins
A ruling that tossed out the insider trading convictions of two hedge fund managers may have opened the door for others charged with wrongful trading to get their cases or pleas dismissed. US District Court Judge, Andrew L. Carter Jr.,...
Efforts Continue to "BankofAmericanize" Merrill Brokers - No Compensation for "Small" Accounts
I am not quite sure when a $250,000 account became a small account, but Merrill Lynch told its brokers on Wednesday that it is eliminating pay for servicing clients with less than $250,000 Now, if you are a client at Merrill, with an account worth...
Fraudulent Apple Trades Cost Morgan Stanley $4 Million in Fines
Morgan Stanley will pay $4 million to settle charges that it failed to stop a rogue Rochdale Securities LLC trader from fraudulently buying $525 million in Apple stock in 2012. For more information, go to Morgan Stanley Fined $4 Million for Role...
Broker Tip: Affluent Pre-Retirees Concerned with Health Care Costs
"Concerned" doesn't do the concept justice. The article uses the word "terrified." More than 62 percent of pre-retirees now say they are “terrified” of what health care costs may do to their retirement plans, according to an annual Nationwide...
Time to Ban Mandatory Deferred Compensation - Morgan Stanley Admits It Uses Employee Funds For Its Own Benefit
Morgan Stanley is not the only one who does it - almost all of the larger brokerage firms require large producers and executives to take their compensation on a deferred basis - often up to 50% of regular compensation and 80% of bonuses. Like most...
SEC Press Releases
HSBC’s Swiss Private Banking Unit Charged With Providing Unregistered Services to U.S. Clients HSBC’s Swiss-based private banking arm has been charged with violating federal securities laws by failing to register with the SEC before providing...
Strong Markets Encourage Scammers
The New York Post has a timely warning. Directed at senior citizens, it is a good read for broker and all investors. The ubiquity of fraud solicitation, coupled with the inability of many people to recognize the red flags of fraud, place a large...
Advisors Have Leverage In Employment Agreements
Executive Recruiter Mindy Diamond finds that compliant advisors, with $100 million in assets under management, are in the driver's seat in the recruiting scene. We represent advisors across the country, insuring that they are in fact compliant,...
Time To Make SEC Press Releases Accurate and Fair
Russell Ryan comes out swinging again, and highlighting a problem that those of us who defend investors and financial professionals face nearly every day - the over-the-top SEC press release. FINRA engages in the same sort of gamesmanship. Both...
Press Releases: Charges for Investment Scheme on Social Media, and Broker Charged in Offering Fraud
India-Based Operators Charged for High-Yield Investment Scheme Using Social Media Charges have been announced against two India-based operators of an alleged high-yield investment scheme seeking to exploit investors through pervasive social media...
SEC Litigation Releases:
On December 19, 2014, the Securities and Exchange Commission Filed Stipulations of Dismissal That Dismiss with Prejudice All Claims Against the Remaining Five Defendants in SEC V. Dunn, et al., Civil Action No. 07 Cv 2058 (S.D.N.Y.) -- Frank A. Dunn, Douglas C. Beatty, Michael J. Gollogly, Maryanne E. Pahapill (A.K.A. Mary Anne Poland), and Douglas A. Hamilton -- Arising Out of Their Alleged Role in Accounting Misconduct At Nortel Networks Corporation.
Frank A. Dunn, et al.
SEC Obtains Permanent Injunctions Against Zhunrize, Inc. and Jeff Pan
SEC Charges Staten Island-Based Firm with Operating Boiler Room Scheme Targeting Seniors
Premier Links, Inc., et al.
SEC Charges Additional Participant in Penny Stock Manipulation Ring
Joseph Saranello and Ruettiger, et al.
Court Enters Final Judgment Against Robert J. Hahn-Baiyor for Insider Trading
Robert J. Hahn-Baiyor
The Securities and Exchange Commission Today Announced That On December 17, 2014, the Honorable Laura Taylor Swain of the United States District Court for the Southern District of New York Entered a Final Judgment Against Lex M. Cowsert in SEC V. Christopher Plummer, et al., 14-Cv-5441.
Christopher Plummer, et al.,
SEC Charges Avon Products, Inc. with Fcpa Violations
Avon Products, Inc.
SEC Charges New Orleans Oil-And-Gas Company with Fraudulent Stock Manipulation
Treaty Energy Corporation, et al.
SEC Charges Stock Promoter with Market Manipulation
Court Orders Former Managing Director of the NASDAQ Stock Market to Disgorge More Than $898,000 in Insider Trading Profits
Donald L. Johnson, et al.
UPDATE 1-UK watchdog to probe PwC over Tesco accounting scandal
LONDON, Dec 22 (Reuters) - Britain's accounting watchdog, the Financial Reporting Council (FRC), ...
FDA approves BioCryst's flu shot
Dec 22 (Reuters) - The U.S. Food and Drug Administration approved Biocryst Pharmaceuticals Inc's ...
Rpt-British upstart banks get IT boost to take on big rivals
LONDON, Dec 21 (Reuters) - When Metro Bank prepared to launch in 2010 as the first new bank to ap...
Ocwen executive chairman to resign in New York settlement - WSJ
Dec 22 (Reuters) - Ocwen Financial Corp's executive chairman, William Erbey, will step down as pa...
Express Scripts to cover AbbVie hepatitis C drug, drops Gilead treatment
Dec 22 (Reuters) - The nation's largest pharmacy benefit manager has lined up a cheaper price fro...
Sugar buyers' slam NAFTA sugar pact, shift focus to Australia, Canada
Dec 22 (Reuters) - A U.S. sugar buyers' group has slammed a U.S.-Mexican government pact announce...
American Apparel adopts new stockholder rights plan
Dec 21 (Reuters) - Struggling retailer American Apparel Inc said it has adopted a new, one-year s...
PRESS DIGEST- British Business - Dec 22
The following are the top stories on the business pages of British newspapers. Reuters has not ve...
Mexico competition watchdog signs off on AT&T's Iusacell buy
MEXICO CITY, Dec 21 (Reuters) - Mexico's competition regulator on Sunday approved AT&T Inc's $1.7...
China stock connect scheme scorecard throws up surprises