The Law of the Financial Markets from Top Securities Lawyers
Thursday, April 18, 2024
Jan. 25, 2023 — The SEC today proposed a rule to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. The rule is intended to prevent the sale of asset-backed securities (ABS) that are tainted by material conflicts of interest. Specifically, […]
App Annie is a leading alternative data provider for the mobile app industry which claims to have data on over 8 million apps and thousands of websites. It claims to provide its customers with a complete picture of the mobile landscape needed to acquire and retain customers. Unfortunately for the […]
Coinbase, the cryptocurrency platform, has received a Wells Notice from the SEC regarding its lending program. At first blush it does not appear that the program, which allows customers to lend their currency is a security, but we have not seen the SEC’s files, so anything is possible. Coinbase has […]
The Securities and Exchange Commission today charged The Kraft Heinz Company with engaging in a long-running expense management scheme that resulted in the restatement of several years of financial reporting. The SEC also charged Kraft’s former Chief… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
The Securities and Exchange Commission announced today that it has filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
It seems like every day we see reports of hacking of corporate computers, resulting in the disclosure of personal customer information. Unfortunately, the brokerage industry is not immune from such attacks. Just yesterday the SEC sanctioned eight firms in three different actions for failures in their cybersecurity policies and procedures […]
The Securities and Exchange Commission today announced awards of approximately $2.6 million to five whistleblowers who provided information and assistance in three separate enforcement proceedings. In the first order, the SEC awarded approximately $1.2 million to a whistleblower who provided valuable independent analysis based upon a complex algorithm the whistleblower […]
On Aug. 20, 2021, the Securities and Exchange Commission filed an emergency action to stop a fraudulent Ponzi scheme allegedly perpetrated by Marietta, Georgia resident John Woods and two entities he controls: registered investment adviser Livingston… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
The Securities and Exchange Commission today announced that Pennsylvania-based Healthcare Services Group, Inc. has agreed to pay $6 million to settle charges that the company engaged in accounting and disclosure violations that enabled the company to… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
An investment advisor based in New York and Santa Fe, N.M., has been charged with swindling dozens of clients out of more than $8 million by recommending investments in a fund he controlled and then transferring the assets out to pay for personal expenses. The U.S. Attorney’s Office for the […]
