The SEC filed charges against Keith A. Wakefield, a former managing director and head of fixed-income trading at IFS Securities, Inc., an Atlanta-based broker-dealer, causing millions of dollars of losses through unauthorized trading in fixed income securities, and with fraudulently obtaining approximately $820,000 in fictitious commission income. According to the […]
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SEC Charges Webcast Host for Role in Market Manipulation Scheme
The Securities and Exchange Commission yesterday announced charges against Mark Melnick, the host of a stock trading webcast, for spreading more than 100 false rumors about public companies in order to generate illicit profits. The SEC previously charged… Read the Full Press Release Have a securities law question? Call Sallah […]
Mark Zuckerberg May Have SEC Problems?
Rawstory is reporting that Facebook is treating its user’s posts differently based on their wealth and status, which may cause problems with the SEC. According to the post, a Wall Street Journal investigation revealed that Facebook’s internal algorithm allows certain users to get around the company’s enforcement procedures, which is […]
SEC Charges Former Executives of Registered Investment Adviser with Fraud
The Securities and Exchange Commission today charged Robert D. Press, the former CEO of the advisory firm TCA Fund Management Group Corp., and Donna M. Silverman, TCA’s former chief portfolio manager, for their roles in the firm’s scheme to artificially… Read the Full Press Release Have a securities law question? […]
SEC Charges Rogue Trader Who Bankrupted His Firm
The Securities and Exchange Commission today charged Keith A. Wakefield, a former managing director and head of fixed income trading at IFS Securities, Inc., an Atlanta-based broker-dealer, with causing millions of dollars of losses through unauthorized… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Proposes to Enhance Proxy Voting Disclosure by Investment Funds and Require Disclosure of “Say-on-Pay” Votes for Institutional Investment Managers
The Securities and Exchange Commission today proposed amendments to Form N-PX to enhance the information mutual funds, exchange-traded funds, and certain other funds report about their proxy votes. The proposed rulemaking would require funds to tie the… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
Watch Out for this Venmo Scam
You notice a deposit to your Venmo account that you do not know. Shortly thereafter you get a message from someone you do not know, claiming that the deposit was made by accident, and could you please send it back? Being the kind person that you are, you send it […]
SEC Obtains Emergency Relief Against New York Real Estate Developer Charged with EB-5 Securities Fraud
The Securities and Exchange Commission today announced that it filed an emergency action and obtained an asset freeze, among other relief, against Richard Xia (aka Yi Via) and his company, Fleet New York Metropolitan Regional Center LLC (formerly known… Read the Full Press Release Have a securities law question? Call […]
SEC Atlanta Regional Office to Co-Host “Money and Markets: Trends and Risks for Retail Investors”
The Securities and Exchange Commission’s Atlanta Regional Office and the University of Georgia School of Law will co-host a panel discussion on “Money and Markets: Trends and Risks for Retail Investors” on Thursday, Oct. 5, 2021, from 5-6:15 p.m. ET.… Read the Full Press Release Have a securities law question? […]
SEC Charges Florida Payday Lender and CEO with Affinity Fraud Targeting the Venezuelan-American Community
The Securities and Exchange Commission today announced charges against Sky Group USA LLC, a payday loan company based in Miami, and its CEO, Efrain Betancourt, Jr., for fraudulently raising at least $66 million through the sale of promissory notes… Read the Full Press Release Have a securities law question? Call Sallah […]
