SEC Target Held In Contempt and Arrested
Securities Lawyer 101 Blog On January 23, 2014, the Securities and Exchange Commission (“SEC”) announced that a Staten Island man who was a SEC enforcement target was held in contempt of court and arrested for failing to comply… Read More
Investment Advisor Impersonates Angel Investors to Get Clients
Securities Lawyer 101 Blog Kimberly Fontenot of Texas has been convicted of defrauding clients of her so-called investment advisory firm, Stellar Grants Inc. According to the FBI, Fontenot lured potential clients by falsely claiming to know numerous wealthy… Read More
Art Scammers Busted by FBI
Securities Lawyer 101 Blog On January 16, 2014, a federal grand jury in San Jose returned a 12-count indictment charging two antique dealers with conspiracy to commit mail fraud and wire fraud, mail fraud, and wire fraud relating… Read More
SEC Charges Senior Management of Veolia with Falsifying Financial Records
Securities Law 101 Blog On January 14, 2014, the Securities and Exchange Commission filed a civil injunctive action in federal district court Milwaukee, Wisconsin, charging Christopher Hohol (“Hohol”) and Brian Poshak (“Poshak”), formerly the senior vice president for… Read More
Joseph Meuse & Belmont Partners Barred, Enjoined and Fined
Securities Lawyer 101 Blog On January 10, 2014, the Securities and Exchange Commission (“SEC”) announced a $300,000 settlement against Belmont Partners LLC, an alleged “shell packaging” company and Joseph Meuse, its Chief Executive Officer. Belmont and Meuse were… Read More
FINRA Suspends and Fines Thomas Mikolasko
Securities Lawyer 101 Blog The Financial Industry Regulatory Authority (“FINRA”) recently suspended and fined Advisor Thomas Mikolasko, (“Mikolasko”) of HFP Capital Markets LLC (“HFP”). According to FINRA, Mikolasko made material misrepresentations and omissions of material fact in connection… Read More
What Are Regulation Crowdfunding Disclosures?
Securities Lawyer 101 Blog On October 23, 2013, the Securities and Exchange Commission (“SEC”) proposed Regulation Crowdfund, setting forth the rules governing the offer and sale of securities through crowdfunded offerings, pursuant to Title III of the Jumpstart Our… Read More
Regulation Crowdfund For Investors
Securities Lawyer 101 Blog On October 23, 2013, the Securities and Exchange Commission (“SEC”) proposed Regulation Crowdfund, setting forth the rules governing the offer and sale of securities through equity crowdfunded offerings, pursuant to Title III of the… Read More
Marijuana Stock Scams on the Rise
Securities Lawyer 101 Blog The holidays are over. As the new year begins, investors find themselves bombarded with media coverage related to the legalization of marijuana for medical and recreational purposes in a number of states. Along with… Read More
Regulation Crowdfunding for Intermediaries
Securities Lawyer 101 Blog Regulation Crowdfunding provides for two types of intermediaries, the registered broker-dealer and the funding portal. Broker-dealers do not need to register in order to engage in crowdfunding offerings, but their activities in this area… Read More
FINRA Orders Stifel, Nicolaus and Century Securities to Pay $1 Million
Securities Lawyer 101 Blog On January 9, 2014, the Financial Industry Regulatory Authority (FINRA) announced that it ordered two St. Louis-based broker-dealers, Stifel, Nicolaus & Company, Incorporated and Century Securities Associates, Inc., to pay combined fines of $550,000 and… Read More
SEC Announces 2014 Examination Priorities
Securities Lawyer 101 Blog On January 4, 2014, the Securities and Exchange Commission (“SEC”) announced its examination priorities for 2014, which cover a wide range of issues at financial institutions, including investment advisers and investment companies, broker-dealers, clearing… Read More
SEC Issues New Rule 506 Guidance
Some of the shareholders of a Rule 506 issuer have entered into a voting agreement under which each shareholder agrees to vote its shares of voting equity securities in favor of director candidates designated by one or more of the other parties.
Senators Request Pre-Filing of Form D
Securities Lawyer 101 Blog A fundamental principle of the federal securities laws is that the purchase or sale of a security must be subject to a registration statement under the Securities Act of 1933 (“Securities Act”) or exempt… Read More
How Regulation M Impacts Securities Offerings – Going Public Lawyers
Securities Lawyer 101 Blog Recently, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued guidance concerning Rule 105 (“Rule 105”) of Regulation M of the Securities Exchange Act of 1934, as amended. Rule 105 prohibits the purchase… Read More
How Do I Resell Restricted Stock Under Rule 144? l Securities Lawyer 101
Securities Lawyer 101 Blog It has become routine for public companies and private companies going public to mark their stock certificates with “Restrictive Legends”. Generally, restrictive stock legends state that the securities represented by the stock certificate are not… Read More
Celebrity Broker Bambi Holzer Barred by FINRA
Securities Lawyer 101 Blog Bambi Holzer, an author and former registered broker to numerous celebrities has been barred by Financial Industry Regulatory Authority (“FINRA”). Holzer frequently made television appearances. Despite her celebrity clients, by September 2013, Holzer was… Read More
SEC Seeks Comment On DTC Proposals
Securities Lawyer 101 Blog On December 18, 2013, the SEC published a notice to solicit comments concerning The Depository Trust Company’s (“DTC”) proposals to specify procedures for securities deposited at DTC for book entry services when it imposes… Read More
SEC Charges Caroline Winsor l Securities Lawyer 101
Securities Lawyer 101 Blog The SEC has charged Caroline Winsor, a Canadian stock promoter, Richard Walchuk, the president and Chief Executive Officer of Viosolar Inc. and Lisa Esposito, a former registered representative, in connection with the manipulation of… Read More
SEC Charges Lance Berger l Securities Lawyer 101
Securities Lawyer 101 Blog According to the SEC, in December 2012, Lance Berger, a stock promoter for several penny stock companies, including FUEG, along with another stock promoter who was a business associate of Berger’s, began discussions with… Read More
The SEC Suspends The Enlightened Gourmet Inc.
Securities Lawyer 101 Blog On December 10, 2013, the Securities and Exchange Commission (the “SEC”) announced the temporary suspension of trading in the securities of The Enlightened Gourmet, Inc. (“ENLG”) commencing at 9:30 a.m. EST on December 18, 2013… Read More
The SEC Releases 2013 Enforcement Results
Securities Lawyer 101 Blog On December 17, the Securities and Exchange Commission (“SEC”) announced that its newly-invigorated Enforcement Division had brought actions in fiscal year 2013 resulting in a record $3.4 billion in monetary sanctions. The SEC’s fiscal… Read More
SEC Charges Stock Randy Hamdan and Oracle Consultants
Securities Lawyer 101 Blog On December 10, 2013, the Securities and Exchange Commission (the “SEC”) charged Randy Hamdan and a related entity, Oracle Consultants LLC, with carrying out a pump-and-dump scheme in the securities of CompuSonics Video Corporation…. Read More
SEC Charges MALOM Group with Securities Fraud
Securities Lawyer 101 Blog The Securities and Exchange Commission filed securities fraud charges against MALOM Group AG, whose name is an acronym for “Make A Lot Of Money”. The SEC alleges that Swiss-based Malom Group AG and other… Read More
SEC Halts Oil And Gas Scheme l Securities Lawyer 101
Securities Lawyer 101 Blog On December 6, 2013, the Securities and Exchange Commission (the “SEC”) announced charges and an emergency asset freeze against the perpetrators of a Texas-based Ponzi oil and gas scheme involving purported investments drilling projects.
SEC Grants Waiver Of Rule 506 Bad Actor Ban
Securities Lawyer 101 Blog On November 25, 2013, the Securities and Exchange Commission granted a waiver of the ban against bad actors under Rule 506 of Regulation D of the Securities Act of 1933. The waiver was granted… Read More
SEC Report Reveals Foreigners Among Dodd Frank Whistleblowers
Securities Lawyer 101 Blog The SEC’s 2013 Annual Report to congress on the Dodd-Frank whistleblower Program shows whistleblowers from 55 countries submitted tips to the SEC. Under the SEC’s whistleblower program, if a whistle-blower’s information leads to an… Read More
SEC Suspends Trading of Nevada Gold Corp
Securities Lawyer 101 Blog On November 27, 2013, the Securities and Exchange Commission (the “SEC”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities… Read More
