Two Recidivists That Met Behind Bars Busted for Securities Fraud
On January 8, 2021, the Securities and Exchange Commission announced settled charges against a Utah corporation, its principals, Mark W Wiseman and…
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Executive Order 13959 Sees Its First Casualties
On November 12, 2020, President Donald Trump signed Executive Order 13959. The executive order prohibits all U.S. Investors (institutional and retail alike)…
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SEC Amends Rule 144 for Convertible Notes and Unregistered Dealers
On December 22, 2020, the Securities and Exchange Commission (“SEC”) voted to propose amendments to Rule 144 to eliminate tacking for shares…
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Nine Individuals Indicted in Global Resource Energy Inc (GBEN) “Pump and Dump” Scheme
On December 17, 2020, the US Department of Justice unsealed an Indictment against nine individuals charged in a "pump and dump" stock…
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SEC Approves NYSE Plan for Direct Listings
On Tuesday, the US Securities and Exchange Commission (SEC) approved a proposed plan by the New York Stock Exchange (NYSE) to let…
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SEC Charges The Cheesecake Factory For Misleading COVID-19 Disclosures
On Friday, the Securities and Exchange Commission (the "SEC") announced that it had settled charges against The Cheesecake Factory Incorporated (CAKE) for…
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House Passes Marijuana Decriminalization Bill
On Friday, the U.S. House of Representatives passed a historic bill that would end the federal prohibition of marijuana. The Marijuana Opportunity, Reinvestment…
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Nasdaq Announces New Proposed Listing Requirements to Advance Diversity
On December 1, 2020, the Nasdaq Stock Market LLC filed a proposal with the U.S. Securities and Exchange Commission ("SEC") to adopt…
Read MoreCongress passes a Bill that forces Chinese stocks to meet US accounting standards
The U.S. House of Representatives unanimously passed legislation on Wednesday that would kick Chinese companies off U.S. stock exchanges if they do…
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Securities Lawyer, Thomas Craft And Disbarred Attorney, Richard Rubin Charged by SEC for Fraudulent Legal Opinions
Securities Lawyer, Thomas Craft And Disbarred Attorney, Richard Rubin Charged by SEC for Fraudulent Legal Opinions
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OTCQX Listing and Eligibility – OTC Markets Lawyer
OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 11,606 U.S. and…
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What is a SPAC?
SPACs, which stand for special purpose acquisition companies, are similar to blank check companies. The SPAC does an Initial Public Offering (an…
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Possible replacements for Jay Clayton as SEC Chair
With Jay Clayton stepping down as the Chairman of the Securities and Exchange Commission at the end of the year, president-elect Joe…
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Jay Clayton won’t be sitting on his hands during his last month as the SEC Chair
On November 16, 2020, Jay Clayton, Chairman of the Securities and Exchange Commission, announced that he would be stepping down at the…
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Jeffrey D. Martin Charged with Manipulating Publicly Traded Stocks in Multiyear “Pump and Dump” Securities Fraud Scheme Worth Over $19 Million
On November 19, 2020, the United States Attorney William M. McSwain filed a superseded Indictment against Jeffrey D Martin, 61, of Orlando,…
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SEC Charges Benja and Andrew J. Chapin With Defrauding Investors
Today, the Securities and Exchange Commission (the "SEC") charged a San Francisco-based e-commerce startup and its chief executive officer with misleading investors…
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SEC Warns Broker-Dealers of Risks Associated with Offshore Omnibus Accounts Transacting in “Penny Stocks”
Last week, the SEC Division of Trading and Markets published a staff bulletin highlighting various risks for broker-dealers arising from certain transactions…
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SEC Enforcement Actions Decline in 2020
According to the annual report published by the Division of Enforcement of the U.S. Securities and Exchange Commission (the "SEC"), there were…
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Caveat Emptor Securities Hit with a Big Setback
Last week, E*TRADE, a subsidiary of Morgan Stanley, which offers an electronic trading platform to trade financial assets including common stocks, announced…
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SEC Awards Two Unique Whistleblower Awards
On November 13, 2020, the Securities and Exchange Commission (the “SEC”) announced an award of over $1.1 million to a whistleblower whose…
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SEC Amends Regulation A, Crowdfunding and Rule 504 Securities Exemptions
The SEC adopted amendments to: (1) establish a new integration framework for issuers to move from one securities offering exemption to another;…
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SEC Charges John McAfee, Jimmy Watson, Jr with Fraudulently Touting ICOs
On October 6, 2020, the Securities and Exchange Commission (the “SEC”) charged businessman and computer programmer, John McAfee, for promoting investments in…
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Edward T. Kelly, Aceto Corporation Controller, Charged with Insider Trading
Edward T. Kelly, Aceto Corporation, Insider Trading, Lakewood Ranch Florida
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SEC Obtains Final Judgment Against Nicholas Tornello, Hill International, Inc
On October 1, 2020, the U.S. District Court for the Eastern District of Pennsylvania entered a final consent judgment against Nicholas Tornello,…
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SEC Proposes Exemptive Relief for Finders
At its October 7, 2020 open meeting, the Securities and Exchange Commission (the “SEC”) voted to propose exemptive relief for certain finders…
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SEC Amends Rule 15c2-11, Form 211 Amendments
On September 16, 2020, SEC amended Exchange Act Rule 15c2-11 and Form 211. Changes to Rule 15c2-11 were proposed last year. The OTC…
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SEC Amends Regulation S-K Item 101, 103 and 105
On August 26, 2020, the United States Securities and Exchange Commission (the “SEC”) finalized its proposed rule amending the disclosure requirements under…
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SEC Amends Accredited Investor Definition – Rule 506 Offerings
Rule 506 Offerings are the most common of the Regulation D exemptions from registration under the Securities Act of 1933, as amended…
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