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Securities Law Blogs

Is Dodd-Frank Responsible For Market Volatility?
Last week’s market gyrations sparked questions about whether bank regulations implemented after the 2008 financial crisis exacerbated price declines by limiting the ability of Wall Street banks to make markets. Read More - Did Bank Rules Kill...

Customer Hit with $80,000 in Respondents' Attorney's Fees
It is not often that a public customer is forced to pay a respondent's attorneys fees, but in a recent FINRA arbitration, that is exactly what happened. According to the description in the FINRA arbitration award  it appears that a public...

Third Party Bene is Not a Customer for Arbitration Purposes
A FINRA arbitration panel has dismissed a $32 million claim because the claimant was not a customer of the brokerage firms, and did not have an account with the Respondents. The Claimant had alleged that he was an undisclosed third-party...

The Need for Narrow SEC Subpoenas
Two common criticisms of investigations by the Securities and Exchange Commission have been the length of time investigations take and the enormous costs they impose on private parties. The issues raised by those criticisms have grown in...

New Computer Programs to Detect Insider Trading
When you are accused of insider trading , it is not the time to try out a new attorney, or to contact your sister's divorce attorney for help. The SEC is serious about insider trading , and if they are looking at your innocent trades, you need to...

Insurance Agents Charged with Fraud Targeting Elderly Investors
The SEC announced charges against four insurance agents for unlawfully selling securities in what turned out to be a multi-million dollar offering fraud targeting elderly investors. The SEC previously charged a Colorado man who allegedly...

Risk Alert for BDs Selling Unregistered Securities for Customers
The SEC has published an important alert for brokerage firm who are selling unregistered securities for their customers. The Risk Alert summarizes deficiencies that were discovered by OCIE during a sweep of 22 broker-dealers frequently involved in...

SEC Loses Laptops with Confidential Information
You can't read the whole article without a subscription, but Law360 is reporting that SEC employees and contractors may have lost (or had stolen) HUNDREDS of laptops. The article states that the information on the computers could be used for...

NY Attorney General Going too Far?
New York Attorney General Eric Schneiderman filed a lawsuit in June against Barclays PLC accusing the bank of giving an unfair edge to high-frequency traders and lying to other customers about it. Barclays has now moved to dismiss the complaint,...

What Does It Take to be an SEC Whistleblower?
With an increase in calls regarding the SEC Whistleblower, it is time to bump up our earlier report on the program. This article is an overview of the program, and is not legal advice whistleblower claims. If you are interested in discussing a...


SEC Litigation Releases:

SEC Obtains Final Judgments Against Defendants Charged with Defrauding Investors in $12.8 Million “Credit Union” Ponzi Scheme
Timothy J. Coughlin, et al.

Court Approves Initial Distribution of $264 Million to Harmed Investors in SEC Ponzi Scheme Case Against Connecticut-Based Hedge Fund Manager
Francisco Illarramendi, Highview Point Partners, LLC and Michael Kenwood Capital Management, LLC, as Defendants, and Highview Point Master Fund, Ltd., Highview Point Offshore, Ltd., Highview Point LP, Michael Kenwood Asset Management, LLC, Michael Kenwood

On September 24, 2014, the Securities and Exchange Commission Filed an Action in Federal Court in San Francisco, Charging the Operators of an International Pyramid Scheme That Raised More Than $129 Million from Investors Worldwide, Primarily in the U.S., China, and Taiwan.
eAdGear, Inc., et al.

Court Enters Judgments Against Ten Defendants in Market Manipulation Scheme Involving Stock in China-Based Company
AutoChina International Limited, Hui Kai Yan, Rui Ge Dong, Victory First Limited, Rainbow Yield Limited, Yong Qi Li, Ai Xi Ji, Ye Wang, Zhong Wen Zhang, Li Xin Ma, Yong Li Li, and Shu Ling Li

SEC Charges Former Financial Analyst At Pharmaceutical Company with Insider Trading
Zachary Zwerko and David L. Post

SEC Charges Former Financial Analyst At Pharmaceutical Company with Insider Trading
Zachary Zwerko

SEC Charges New Jersey-Based Hedge Fund Manager with Insider Trading in Carter’S Stock
Stephen E. Slawson

District Court Enters Final Judgments of Permanent Injunction Against Defendants Anthony Thompson, Otc Solutions, LLC, Jay Fung, Pudong LLC, Ryan Gonzalez and Recycle Tech, Inc.
Recycle Tech, Inc., et al.,

Judgment Entered Against Former Chief Financial Officer of China-Based Company in Fraudulent Scheme Involving Purported Web Services Business
Subaye, Inc. and James T. Crane

Final Judgment and Administrative Order Entered Against Pennsylvania-Based Registered Representative Who Stole Funds from Customers
Dennis F. Wright

News Stories:
UPDATE 1-China's shadow banking sector growing rapidly, third largest in world - FSB
BEIJING, Oct 31 (Reuters) - China's shadow banking sector continued to grow at breakneck speed in...

UPDATE 7-Four dead, five injured after plane crashes at Kansas airport
WICHITA, Kan., Oct 30 (Reuters) - Four people were killed, including the pilot, and five injured ...

China's shadow banking sector growing rapidly, third largest in world - FSB

PRESS DIGEST- Financial Times - Oct 31
Oct 31 (Reuters) - The following are the top stories in the Financial Times. Reuters has not veri...

UPDATE 4-Citigroup sets aside $600 mln more to cover legal costs
* Revises down third-qtr net income to $2.84 bln from $3.44 bln

RadioShack lender Salus seekS to add debt holdings -Bloomberg
Oct 30 (Reuters) - A major RadioShack Corp lender is attempting to buy a bigger part of the elect...

Harbinger cannot 'leapfrog' LightSquared creditors -U.S. judge
NEW YORK, Oct 30 (Reuters) - Hedge fund manager Phil Falcone's efforts to hold onto a piece of hi...

UPDATE 3-Citigroup sets aside $600 mln more to cover legal costs
* Revises down third-qtr net income to $2.84 bln from $3.44 bln

UPDATE 1-FDA panel backs Daiichi's blood thinner
* If approved, will compete with three new-generation drugs (Adds details, background)

Apple's Cook signals front line of new gay rights battle
Oct 30 (Reuters) - In his essay coming out as gay, Apple Chief Executive Tim Cook criticized an A...



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Nothing herein is intended as legal or financial advice. The law is different in different jurisdictions, and the facts of a particular matter can change the application of the law. Please consult an attorney or your financial advisor before acting upon the information contained in this article. SECLaw.com was created by and is sponsored by Mark J. Astarita, Esq., a securities attorney and partner in the law firm of Beam & Astarita, LLC, who represents all participants in the financial markets. Mr. Astarita can be contacted by email at astarita@beamlaw.com.

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