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 […]
Mark J. Astarita
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 […]
SEC Investor Advisory Committee to Meet Remotely on Dec. 3
The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting on Dec. 3 by remote means. The meeting will begin at 10 a.m. ET, is open to the public via live webcast, and will be archived on the committee’s website… Read the Full Press Release Have a securities […]
SEC Proposes Amendments to Modernize Framework for Securities Offerings and Sales to Workers
The Securities and Exchange Commission today announced that it has voted to propose amendments to Securities Act Rule 701, which provides an exemption from registration for the issuance of compensatory securities by non-reporting issuers, and Form S-8,… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Proposes Temporary Rules to Facilitate Measured Participation by Certain “Platform Workers” in Compensatory Offerings Under Rule 701 and Form S-8
The Securities and Exchange Commission today voted to propose rules that, on a temporary basis and subject to percentage limits (no more than 15% of annual compensation), dollar limits (no more than $75,000 in three years) and other conditions, would… Read the Full Press Release Have a securities law question? […]
SEC Claims Wells Fargo Executives Misled Investors
The SEC filed a complaint in federal court charging former Wells Fargo & Co. CEO and Chairman John G. Stumpf and former head of Wells Fargo’s Community Bank Carrie L. Tolstedt for their roles in allegedly misleading investors about the success of the Community Bank, Wells Fargo’s core business. Prior […]
Firm Fined For Lax Text Message Storage
Broker-dealers are required to store and preserve all communications sent and received by their brokers for a period of three years pursuant to Section 17(a) and Rule 17a4 of the Exchange Act. That requirement includes text messages, as one firm recently learned the hard way. The SEC instituted administrative proceedings […]
Whistleblower Award for New Analysis, Not New Information
Whistleblower awards are typically given to individuals who provide new information or leads to the SEC which results in significant sanctions. In November, the SEC has announced an award of over $1.1 million to a whistleblower who did not provide new information for an investigation, but rather provided independent analysis […]
SEC Charges Firms in Connection with Sales of Complex Exchange-Traded Products
The Securities and Exchange Commission today filed settled actions against three investment advisory firms and two dually-registered broker-dealer and advisory firms for violations that related to unsuitable sales of complex exchange-traded products to… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. […]