Blog Posts Tagged With Miscellaneous

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SEC Proposes Whistleblower Rule Amendments (June 28, 2018)

The SEC voted to propose amendments to the rules governing its whistleblower program.  These amendments address, in part, the Supreme Court’s decision in Digital Realty Trust, Inc. v. Somers, which held that the Dodd-Frank Act’s whistleblower anti-retaliation provisions only apply where a securities violation is reported to the SEC itself.  With respect to whistleblower retaliation protection, the proposed rules would require an individual to report information about possible securities laws violations to the Commission ... Continue Reading

Lucia v. SEC (June 21, 2018)

The Supreme Court held that the SEC’s appointment of ALJS violated the Constitution because SEC ALJs are “officers” and thus are subject to the Appointments Clause under the Court’s prior precedent.  This decision may have far-reaching consequences for other federal agencies that utilize ALJs because they are vulnerable to similar Appointments Clause challenges.  Further, while Lucia resolved one constitutional challenge to SEC ALJs, a concurrence by Justice Breyer highlights another significant constitutional question:  whether the ... Continue Reading

Delinquent Filings (June 2018)

  • In re Escalera Resource Co., et al. (A.P. June 19, 2018, Contested)
  • In re Radiant Oil & Gas, Inc., et al. (A.P. June 19, 2018, Contested)
  • In re Development Capital Group, Inc., et al. (A.P. June 20, 2018, Contested)
  • In re FuelNation, Inc., et al. (A.P. June 20, 2018, Contested)
  • In re Green Parts International, et al. (A.P. June 29, 2018, Contested)
... Continue Reading

Follow-on APs, Suspensions, and Bars (June 2018)

  • In re Barbara A. Endres (A.P. June 4, 2018, Settled)
  • In re Christopher C. Burtraw (A.P. June 4, 2018, Settled)
  • SEC v. Fern Holdings Corp., et al. (A.P. June 4, 2018, Settled)
  • In re Nachman Aaron Troodler, Esq. (A.P. June 8, 2018, Settled)
  • In re America Greener Technologies, Inc., et al. (A.P. June 13, 2018, Settled)
  • In re Eric Erb (A.P. June 13, 2018, Settled)
  • In re William Jordan (A.P. June 14, 2018, Settled)
  • In
... Continue Reading

Delinquent Filings (May 2018)

  • In re Content Check Holdings, Inc. (A.P. May 8, 2018, Contested)
  • In re Longwei Petroleum Investment Limited (A.P. May 10, 2018, Contested)
  • In re Grey Fox Holding Corp. (f/k/a Gray Fox Petroleum Corp.), et al. (A.P. May 14, 2018, Contested)
  • In re Hedgebrook, et al. (A.P. May 15, 2018, Contested)
  • In re Sonora Resources Corp. (A.P. May 15, 2018, Contested)
  • In re America Greener Technologies, Inc., et al. (A.P. May 16, 2018, Contested)
  • In re
... Continue Reading

Follow-on APs, Suspensions, and Bars (May 2018)

  • SEC v. Eddy U. Marin, et al. (S.D. Fla. May 2, 2018, Settled)
  • In re Kevin Hamilton (A.P. May 1, 2018, Settled)
  • In re Douglas A. McClain, Jr. (A.P. May 2, 2018, Settled)
  • In re Lauramarie Colangelo (A.P. May 2, 2018, Settled)
  • In re Gary Yin (A.P. May 3, 2018, Settled)
  • In re Shae Yatta Harper, Esq. (A.P. May 4, 2018, Settled)
  • In re Daniel H. Glick, CPA (A.P. May 4, 2018, Settled)
  • In re
... Continue Reading

Follow-on APs, Suspensions, and Bars (April 2018)

  • In re James Moodhe (A.P. Apr. 2, 2018 – Settled)
  • In re NextGlass Technologies Corp. (Apr. 3, 2018 – Settled)
  • In re Gregory John Tuthill (Apr. 4, 2018 – Settled)
  • In re Joshua D. Mosshart (A.P. Apr. 5, 2018 – Settled)
  • In re Caleb J. Preston (A.P. Apr. 6, 201 – Settled)
  • In re Charles G. Preston (A.P. Apr. 6, 2018 – Settled)
  • In re Tobias J. Preston (A.P. Apr. 6, 2018 – Settled)
  • In
... Continue Reading

Follow-on APs, Suspensions, and Bars (March 2018)

  • SEC v. Edward Henderson (D. Mass. Feb. 28, 2018, Contested)
  • In re Jacob W. Stocking (A.P. Mar. 5, 2018, Settled)
  • In re Eric Lovy f/k/a Eric Beltran (A.P. Mar. 6, 2018, Settled)
  • In re DMS Advisors, Inc. (A.P. Mar. 7, 2018, Settled)
  • In re Peter R. Kohli (A.P. Mar. 7, 2018, Settled)
  • In re Deborah D. Kelley (A.P. Mar. 9, 2018, Settled)
  • In re Gregg Z. Schonhorn (A.P. Mar. 9, 2018, Settled)
  • In re Edmund
... Continue Reading

Follow-on APs, Suspensions, and Bars (February 2018)

  • In re Scott Walter Christensen (A.P. Feb. 1, 2018, Settled)
  • In re Thomas Edward Andrews (A.P. Feb. 1, 2018, Settled)
  • In re Craig Karlis (A.P. Feb. 2, 2018, Settled)
  • In re Andrew H. Wilson, Esq. (A.P. Feb. 5, 2018, Settled)
  • In re John T. Lynch, Jr. (A.P. Feb. 6, 2018, Settled)
  • In re Banc One Investment Advisors Corp. and Mark A. Beeson (A.P. Feb. 7, 2018, Settled)
  • In re Michael S. Moses (A.P. Feb.
... Continue Reading

Digital Realty Trust, Inc. v. Somers (Feb. 21, 2018)

The Supreme Court held that the Dodd-Frank Act’s whistleblower anti-retaliation provisions only apply where a violation of the securities laws is reported to the SEC, and do not extend to situations in which the violation is reported only internally.  In so holding, the Court resolved a circuit split that had left uncertainty over the scope of the provisions.  Individuals who report to the SEC remain covered by the provisions, which allow immediate access to federal ... Continue Reading

SEC Announces Self-Reporting Initiative for Rule 12b-1 Fee Disclosures (Feb. 12, 2018)

The SEC’s Division of Enforcement announced its “Share Class Selection Disclosure Initiative,”  offering favorable settlement terms to investment advisers who self-report potential violations relating to certain mutual fund share class selection issues and promptly return money to harmed clients.  Qualifying self-reporting advisers will be eligible for a recommendation from the Division of Enforcement that the Commission accept a settlement imposing a cease-and-desist order, disgorgement with prejudgment interest, and various undertakings, but not imposing a civil ... Continue Reading

SEC and CFTC Chairs Testify on Virtual Currency Oversight (Feb. 6, 2018)

SEC Chairman Jay Clayton and CFTC Chairman Christopher Giancarlo testified before the Senate Banking, Housing and Urban Affairs Committee on regulatory and enforcement efforts in connection with Bitcoin and other virtual currencies.  Both officials suggested that a broader, coordinated effort to monitor and regulate these currencies was necessary.  Chairman Giancarlo stated:  “It strikes me that we owe it to this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, ... Continue Reading

Follow-on APs, Suspensions, and Bars (January, 2018)

In re Khaled “Kal” Bassily (A.P. Jan. 3, 2018, Settled)

In re Blacksands Petroleum, Inc., et al. (A.P. Jan. 8, 2018, Contested)

In re Donna Boyd (f/k/a Donna Chen) (A.P. Jan. 8, 2018, Settled)

In re James C. Tao (A.P. Jan. 8, 2018, Settled)

In re Punch TV Studios, Inc. (A.P. Jan. 9, 2018, Contested)

In re Ambicon Holdings, et al. (A.P. Jan. 17, 2018, Contested)

In re American Nano Silicon Tech., Inc. (A.P. Jan. ... Continue Reading

CFTC v. Southern Trust Metals, Inc., et al. (11th Cir. Jan. 22, 2018)

The Eleventh Circuit held as a matter of first impression that a settlement between a self-regulatory organization (the National Futures Association or NFA) and Defendants did not preclude a subsequent CFTC action brought on the basis of the same action. The court found that equitable estoppel does not apply to a CFTC action where the Defendant entered into a settlement with a self-regulatory organization because (1) the settlement was with a private, nongovernmental organization, (2) ... Continue Reading

Robert Jackson and Hester Pierce Sworn in as SEC Commissioners (Jan. 11, 2018)

Robert J. Jackson Jr. and Hester M. Pierce were sworn into office by SEC Chairman Jay Clayton. Their nominations were confirmed by the Senate on Dec. 21, 2017. Commissioner Jackson was previously a professor at NYU School of Law and also taught at Columbia University and served in the Treasury Department. Commissioner Pierce was previously a Senior Research fellow and Director of the Financial Markets Working Group at the Mercatus Center at George Mason University. ... Continue Reading

Follow-on APs, Suspensions, and Bars (December 2017)

  • In re Gregory Davis, CPA (A.P. Dec. 5, 2017, Settled)
  • In re Next Galaxy Corp., et al. (A.P. Dec. 5, 2017, Settled)
  • In re Robert W. Davis, CPA (A.P. Dec. 5, 2017, Settled)
  • In re William P. Carlson, Jr. (A.P. Dec. 5, 2017, Settled)
  • In re Robin Glen Charlet (A.P. Dec. 8, 2017, Settled)
  • In re Steven William Sparks (A.P. Dec. 8, 2017, Settled)
  • In re William J. Peiffer, Esq. (A.P. Dec. 12, 2017, Settled)
... Continue Reading

Follow-on APs, Suspensions, and Bars (November 2017)

  • In re American Swiss Capital, et al. (A.P. Nov. 3, 2017, Settled)
  • In re James P. Kolf (A.P. Nov. 3, 2017, Settled)
  • In re Tamer F. Moumen (A.P. Nov. 3, 2017, Settled)
  • In re Donald H. Ellison (A.P. Nov. 6, 2017, Settled)
  • In re IN Media Corp., et al. (A.P. Nov. 6, 2017, Settled)
  • In re Hui Feng Esq., et al. (A.P. Nov. 8, 2017, Contested)
  • In re Patric Ken Baccam a/k/a Khanh Sengpraseuth (A.P.
... Continue Reading

Follow-on APs, Suspensions, and Bars (October 2017)

  • In re Martin T. Cantu (A.P. Oct 2, 2017, Contested)
  • In re Maroof Miyana (A.P. Oct. 2, 2017, Settled)
  • In re Biovest International Inc. (A.P. Oct. 3, 2017, Contested)
  • In re Prospect Ventures, Inc., et al. (A.P. Oct. 3, 2017, Settled)
  • In re Wen Chen Hwang aka “Wendy Lee” (A.P. Oct. 4, 2017, Settled)
  • In re Bilal Basrai (A.P. Oct. 5, 2017, Settled)
  • In re Bryce Stirton (A.P. Oct. 5, 2017, Settled)
  • In re Cono
... Continue Reading

Follow-on APs, Suspensions, and Bars (September 2017)

  • In re Steven C. Scudder (A.P. Sept. 6, 2017, Settled)
  • In re Waldemar Grab (A.P. Sept. 7, 2017, Settled)
  • In re Mike Lundy (A.P. Sept. 8, 2017, Settled)
  • In re Javier Alvarado, Jr. (A.P. Sept. 11, 2017, Settled)
  • In re William D. Veasey, IV (A.P. Sept. 11, 2017, Settled)
  • In re Gary Yin (A.P. Sept. 11, 2017, Contested)
  • In re Daryl G. Bank (A.P. Sept. 13, 2017, Contested)
  • In re Thomas C. Tekulve, Jr., CPA
... Continue Reading

Delinquent Filings (September 2017)

  • In re Accelerated Aquisition XVII, Inc., et al. (A.P. Sept. 5, 2017, Contested) – Four entities
  • In re BioPharma Manufacturing Solutions Inc., et al. (A.P. Sept. 5, 2017, Contested) – Four entities
  • In re Bohai Pharmaceuticals Group Inc. (A.P. Sept. 5, 2017, Contested) – One entity
  • In re China Precision Steel, Inc., et al. (A.P. Sept. 5, 2017, Contested) – Two entities
  • In re GeoGlobal Resources, Inc., et al. (A.P. Sept. 5, 2017, Contested) –
... Continue Reading

SEC Issues Statement on Cyber Enforcement (Sept. 25, 2017)

The SEC announced the creation of a Cyber Unit which will focus on targeting cyber-related misconduct, such as market manipulation schemes involving false information spread through social media, hacking to obtain material non-public information, violations involving distributed ledger technology and initial coin offerings, dark web misconduct, intrusions into retail brokerage accounts, and cyber threats to exchanges and other critical market infrastructure. “Cyber-related threats and misconduct are among the greatest risks facing investors and the securities ... Continue Reading

Follow-on APs, Suspensions, and Bars (August 2017)

In re Michael S. Shore (A.P. Aug. 1, 2017, Settled)

In re Bradley T. Smegal (A.P. Aug. 1, 2017, Settled)

In re Donald J. Lester (A.P. Aug. 7, 2017, Settled)

In re Steven V. McClatchey (A.P. Aug. 7, 2017, Settled)

In re Bryan Wayne Anderson (A.P. Aug. 11, 2017, Settled)

In re Lisa Pavelka McAlister, CPA (A.P. Aug. 15, 2017, Settled)

In re Stephen S. Eubanks (A.P. Aug. 17, 2017, Settled)

In re John W. ... Continue Reading

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