Securities Law

SEC Proposes Rule Amendments to the Broker-Dealer Customer Protection Rule

July 12, 2023

The Securities and Exchange Commission today proposed amendments to Rule 15c3-3 (the Customer Protection Rule) to require certain broker-dealers to increase the frequency with which they perform computations of the net cash they owe to customers and… Full report at: Read More

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SEC Charges Merrill Lynch and Parent Company for Failing to File Suspicious Activity Reports

July 11, 2023

The Securities and Exchange Commission today announced charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated and its parent company BAC North America Holding Co. (BACNAH) for failing to file hundreds of Suspicious Activity Reports (SARs… Full report at: Read More

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SEC Charges Former Army Financial Counselor Who Defrauded Gold Star Family Members

July 7, 2023

The Securities and Exchange Commission today charged former U.S. Army financial counselor Caz L. Craffy for defrauding Gold Star family members and others by engaging in unauthorized trading—including of life insurance and family survivor benefits they… Full report at: Read More

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SEC Charges “Smart” Window Manufacturer, View Inc., with Failing to Disclose $28 Million Liability

July 3, 2023

The Securities and Exchange Commission today announced settled charges against a California-based manufacturer of “smart” windows, View Inc., for failing to disclose $28 million in projected warranty-related liabilities to address a particular defect in… Full report at: Read More

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SEC Charges Two Oregon Residents and Their Related Entities with $10 Million Ponzi-Like Scheme

June 30, 2023

The Securities and Exchange Commission today charged Oregon residents Robert D. Christensen and Anthony M. Matic, as well as several companies they controlled, with conducting a multi-year Ponzi-like scheme and misleading investors who purchased more… Full report at: Read More

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SEC Charges Stockbroker and Friend with Insider Trading

June 29, 2023

The Securities and Exchange Commission today announced insider trading charges against Jordan Meadow, a registered representative for a New York-based broker-dealer, and Steven Teixeira, the Chief Compliance Officer of an international payment processing… Full report at: Read More

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SEC Charges Former DWAC Board Member and Others for Insider Trading in DWAC Securities

June 29, 2023

The Securities and Exchange Commission today filed insider trading charges against Bruce Garelick, a former board member of Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC); Michael Shvartsman and his firm Rocket… Full report at: Read More

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SEC Charges Former MusclePharm Executives with Accounting and Disclosure Fraud

June 27, 2023

The Securities and Exchange Commission today filed a settled complaint charging Las Vegas-based nutritional supplement company MusclePharm Corp.’s former Executive Vice President of Sales and Operations, Brian H. Casutto, former Vice President of Sales,… Full report at: Read More

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SEC Charges Florida Resident for Operating $112 Million Ponzi Scheme that Targeted Haitian-American Community

June 26, 2023

The Securities and Exchange Commission today announced charges against Broward County, Florida resident Sanjay Singh and his trucking and logistics company, Royal Bengal Logistics Inc., with fraudulently raising approximately $112 million from as many as… Full report at: Read More

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SEC Charges Convicted Fraudster in Real Estate Ponzi Scheme

June 23, 2023

The Securities and Exchange Commission today charged Wilson Baston with defrauding numerous investors in a Ponzi scheme, in which he raised millions of dollars through dozens of transactions purportedly to fund real estate investments, but frequently… Full report at: Read More

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