Yes Virginia, when you have trading profits, the state and federal government want their cut. Robinhood Traders Face The Taxman After Falling In Love With Stocks: Digital day traders now face a reckoning with short-term capital gains taxes.
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Small Business Advocate Releases Annual Report for Fiscal Year 2020
The SEC’s Office of the Advocate for Small Business Capital Formation issued its Annual Report for Fiscal Year 2020 today. The report provides comprehensive data on the state of small business capital formation, a summary of the… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
UBS Arbitration Claims Moving Forward
UBS customers who have lost money in the UBS Yield Enhancement Strategy (UBS YES), and who have filed arbitration claims against UBS to recover their losses are having their cases move to hearings before FINRA. UBS YES involved investing in options with a complex series of put and call spreads […]
Court Orders Uber to Classify Drivers as Employees
In a ruling that may impact the independent BD model, as least in California, Uber and Lyft were ordered by a California court to reclassify their drivers in the state as employees, marking the latest escalation in an ongoing legal battle over a new law impacting much of the on-demand […]
Kodak’s $765 million government loan on hold after lawmakers raised ‘serious concerns’
Eastman Kodak Co’s $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients has been put on hold due to “recent allegations of wrongdoing,” the U.S. International Development Finance Corp (DFC) said. Kodak shares surged more than 1,000% last week after the loan was announced, generating a windfall […]
Digital Asset Scam Alert
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 […]
CHRONOS GROUP INVESTIGATION
On March 2, Chronos Group, a global cannabinoid company with international production and distribution announced that it was unable to complete its financial report and statements for fiscal 2019 because its audit committee, outside counsel and forensic accountants are reviewing several bulk resin purchases and sales of products through its […]
Former Congressman Christopher Collins and Two Others Settle Insider Trading Charges
The SEC announced settlements with former U.S. Rep. Christopher Collins, his son Cameron Collins, and Stephen Zarsky, all of whom were charged with insider trading and pleaded guilty to related criminal charges. The settlements, which are subject to court approval, bar Christopher Collins from serving as an officer or director […]
Nanotech Engineering Asset Freeze By SEC
The SEC announced that it has obtained a temporary restraining order and asset freeze against a Nanotech Engineering, a California solar panel company and three executives, who allegedly defrauded more than 100 investors. According to the SEC’s complaint, Nanotech Engineering Inc., CFO Michael James Sweaney, also known as Michael Hatton, […]
GPB Capital Investigations Heat Up
With losses approaching 70% for some investors, sitting on the sidelines, waiting for the funds to turn around is apparently not working for investors in the GPB Capital funds, and the situation is not getting better. While investors are filing arbitrations to recover their losses in GPB Capital, and investigations […]
