The Law of the Financial Markets Monday, May 17, 2021
The Securities and Exchange Commission today announced that it filed an emergency action against California-based real estate development company SiliconSage Builders LLC, aka Silicon Sage Builders, and its sole owner, Sanjeev Acharya, in connection with an alleged $119 million fraudulent offering. According to the SEC’s complaint, Silicon Sage Builders and […]
General Electric Co. (GE) has agreed to pay a $200 million penalty to settle charges for disclosure failures in its power and insurance businesses. In 2017 and 2018, GE’s stock price fell by almost 75% as challenges in its power and insurance businesses were disclosed to the public. According to […]
From JD Supra’s post from the California Corporate and Securities Law Blog: The North American Securities Administrators Association issued a comment letter urging the Securities and Exchange Commission not to move forward on its proposal to issue a conditional order exempting finders from the requirement to register as brokers. The SEC had proposed the order as […]
The Securities and Exchange Commission today announced that it has obtained an asset freeze and other emergency relief to halt an ongoing securities fraud perpetrated by a former state senator and two others who bilked investors in and outside the U.S. The SEC’s complaint alleges that Florida residents Robert Dunlap […]
Investors who lost money in UBS’ Yield Enhancement Strategy (YES) may be able to recover their losses
Under the federal securities laws, while a company may not offer or sell securities without registration with the SEC, there are a number of registration exemptions. Many exemptions require that the offering be made only to persons who are accredited investors. Unlike offerings registered with the SEC in which certain […]
The SEC has voted to propose rule amendments to improve the information that investors receive regarding the acquisition and disposition of businesses. The proposed amendments are also intended to facilitate more timely access to capital and to reduce complexity and compliance costs of these financial disclosures. “The proposed rules are, […]
Proponents of the varied cryptocurrencies believe that buying these “coins” will make them millionaires. For some, it is hard to argue, given the spectacular gains in the currency over the past year. However, those of us who have been involved in the securities markets for more than a few years, […]
Even a looming scandal wouldn’t deter some of Congress’ most eager stock traders.” This article from Politico details the outrageous trading patterns of some members of Congress, who despite the STOCK Act, continue to trade in the securities of companies who are the influenced by their investigations and legislation. The […]
Rule 504 of Regulation D provides an exemption from the registration requirements of the federal securities laws for some companies when they offer and sell up to $1,000,000 of their securities in any 12-month period. A company can use this exemption so long as it is not a blank check […]
