Aug. 17, 2022 — The Securities and Exchange Commission today charged Global Business Development and Consulting Corp. (Global) and its owner, Anthony J. Mastroianni, Jr., in connection with a $1.2 million fraudulent promissory note scheme targeting older Americans. According to the SEC’s complaint, Mastroianni, a New Jersey resident, sold at […]
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Angel Oak Capital Advisors Settles SEC Charges in $90 Million Fix-and-Flip Securitization
Aug. 10, 2022 — The Securities and Exchange Commission today charged and Atlanta-based Angel Oak Capital Advisors, LLC and its portfolio manager Ashish Negandhi for misleading investors about the firm’s fix-and-flip loan securitization’s delinquency rates. Angel Oak and Negandhi have agreed to settle charges and pay a penalty of $1.75 […]
SEC Awards More Than $16 Million to Two Whistleblowers
Aug. 9, 2022 — The Securities and Exchange Commission today announced awards of more than $16 million to two whistleblowers who provided information and assistance in a successful SEC enforcement action. The first whistleblower prompted the opening of the investigation and provided information on difficult-to-detect violations. This whistleblower also identified […]
SEC Proposes Rules to Improve Clearing Agency Governance and to Mitigate Conflicts of Interest
Aug. 8, 2022 – The Securities and Exchange Commission today proposed new rules to help improve governance arrangements across all registered clearing agencies by reducing the likelihood that conflicts of interest may influence the board of directors or equivalent governing body of a registered clearing agency. “I was pleased to […]
SEC Charges Former Congressman with Insider Trading
Stephen Buyer allegedly used inside information to buy $1.5 million in stocks. Criminal case pending as well July 25, 2022 – The Securities and Exchange Commission today filed insider trading charges against Stephen Buyer, a former U.S. Representative for Indiana’s 4th Congressional District. According to the SEC’s complaint, after leaving […]
SEC Files Multiple Insider Trading Actions Originating from the Market Abuse Unit
Parallel Criminal Proceedings Filed for Each Case July 25, 2022 — The Securities and Exchange Commission today filed insider trading charges against nine individuals in connection with three separate alleged schemes that together yielded more than $6.8 million in ill-gotten gains. Those charged include a former chief information security officer […]
New Lawsuit Alleging That Solana Is A Security Could Have Big Implications For The Crypto Investment Landscape
Yesterday we posted about the SEC insider trading case which is attempting to claim that crypto assets are securities and trading on material, non-public information regarding them violates the federal securities laws. SEC Files First Crypto Insider Trading Case, But the Trading Doesn’t Involve a Security Today we learned of […]
OTC Markets
The over-the-counter market is where securities which do not trade on an exchange are traded. Securities traded on the this market are typically from smaller companies that do not meet the listing requirements from the exchanges. The OTC market is the default exchange for some securities, like corporate bonds. Alternatively, […]
Market Maker
A market maker is a firm, usually a brokerage firm, who actively quotes two-sided markets in a particular security, providing bids and offers (“asks”) along with the market size of each. Market makers provide liquidity and depth to markets and profit from the difference in the bid-ask spread. Each market […]
FINRA Bars Two For Cheating on Exam
Really? You are in an industry that requires honesty and integrity, and you cheat on a qualification exam? Maybe the fact that it was administered remotely made it seem less serious, but really, if you can’t pass the exam without cheating, you need to find another career. These two don’t […]
