The Securities and Exchange Commission today announced that the SEC‘s Strategic Hub for Innovation and Financial Technology, commonly referred to as FinHub, will become a stand-alone office. Valerie A. Szczepanik will continue to lead FinHub as its… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
Mark J. Astarita
SEC Modernizes Framework for Fund Valuation Practices
The Securities and Exchange Commission today announced that it voted to adopt a new rule that establishes an updated regulatory framework for fund valuation practices. The rule is designed to clarify how fund boards of directors can satisfy their… Read the Full Press Release Have a securities law question? Call […]
FINRA Proposes Additional Financial Requirements on Small Firms
While FINRA keeps adding rules on member firms to prevent the hiring of brokers with a misconduct history, it also harms brokers and firms who do not have a significant history of misconduct. This time around FINRA is hitting firms that it deems to be hiring disciplined brokers financially, by […]
Energy Companies Agree to Settle Fraud Charges Stemming From Failed Nuclear Power Plant Expansion
The Securities and Exchange Commission today announced that SCANA Corp. and its subsidiary South Carolina Electric & Gas Co. (SCE&G) have agreed to settle the SEC’s lawsuit charging them with defrauding investors by making false and misleading… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
UBS Desperate to Keep Clients
According to an article in AdvisorHub, UBS Orders Fee Waivers, Loan Discounts on Reassigned Accounts, UBS is drastically waiving fees and commissions for accounts of brokers who have left the firm, in a desperate attempt to keep those clients, and their assets. The fee waiver is causing concern for brokers who […]
SEC Charges Disbarred New York Attorney and Florida Attorney with Scheme to Create False Opinion Letters
The Securities and Exchange Commission today charged disbarred attorney, Richard J. Rubin, and licensed attorney, Thomas J. Craft, with fraud for their roles in a legal opinion letter scheme to fraudulently facilitate the sale of millions of shares of… Read the Full Press Release Have a securities law question? Call […]
Unregistered Investment Adviser Accused of Defrauding Puerto Rico Municipality
The Securities and Exchange Commission today charged an unregistered investment adviser based in Orlando, Florida for defrauding the Municipality of Mayagüez, Puerto Rico and misappropriating $7.1 million of taxpayer funds. According to the SEC’s complaint, in 2016, Eugenio Garcia Jimenez, Jr. told municipal officials that he could invest approximately $9 […]
SEC Charges Boiler Rooms Operator with Defrauding Retail Investors
The SEC today charged New York resident Mark Alan Lisser with fraud for operating at least two boiler rooms, on Long Island, New York and in Boca Raton, Florida, through which he raised approximately $2.1 million from at least 71 retail investors and… Read the Full Press Release Have a […]
SEC Awards Over $6 Million to Joint Whistleblowers
The Securities and Exchange Commission today announced an award of over $6 million to joint whistleblowers whose information and assistance led to the successful enforcement of SEC and related actions. The whistleblowers’ substantial assistance,… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at […]
SEC Issues Agenda for Dec. 1 Meeting of the Asset Management Advisory Committee
The Securities and Exchange Commission today released the agenda for the Dec. 1 meeting of the Asset Management Advisory Committee (AMAC). AMAC was formed to provide the Commission with diverse perspectives on asset management and related… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]