Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

June 8, 2019

SEC Adopts Rules and Interpretations to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships With Financial Professionals (SEC Press Release)

Commission Interpretation Regarding the Solely Incidental Prong of the Broker-Dealer Exclusion from the Definition of Investment Adviser (Release No.: IA-5249)

Commission Interpretation Regarding Standard of Conduct for Investment Advisers (Release No.: IA-5248; File No. S7-07-18)

Form CRS Relationship Summary; Amendments to Form ADV 

Regulation Best Interest: The Broker-Dealer Standard of Conduct (Release No.: 34-86031; File No. S7-07-18)

Statement at the Open Meeting on Commission Actions to Enhance and Clarify the Obligations Financial Professionals Owe to our Main Street Investors by SEC Chair Clayton

Statement on Final Rules Governing Investment Advice by SEC Commissioner Robert J. Jackson Jr.

Statement at the Open Meeting on Regulation Best Interest, the Interpretation of the Standard of Conduct for Investment Advisers, the Form CRS Relationship Summary, and the Interpretation of "Solely Incidental" by SEC Commissioner Elad L. Roisman

Statement Regarding the SEC's Rulemaking Package for Investment Advisers and Broker-Dealers by SEC Investor Advocate Rick Fleming

GUEST BLOG: Being Evil by Aegis Frumento, Esq ( Blog)

SEC Charges Perpetrators of Prime Bank Investment Scheme for Defrauding Investors (SEC Release)

SEC Adds Fraud Charges Against Purported Cryptocurrency Company Longfin, CEO, and Consultant (DOJ Release)

CEO Of Public Commodities Trading Company Charged In $66 Million Accounting Fraud Scheme
Defendant Allegedly Inflated Company's Revenue to Defraud Investors (DOJ Release)

SEC Files Fourth Subpoena Enforcement in Possible Market Manipulation Scheme (SEC Release)

Hedge Fund Adviser to Pay $5 Million for Compliance Failures Related to Valuation of Fund Assets. In the Matter of  Deer Park Road Management Company LP and Scott Burg, Respondents (SEC Order) 

SEC Acts In the Public Interest And Renders $3 Million Whistleblower Award ( Blog)

CFTC Whistleblower Alert: Blow the Whistle on Foreign Corrupt Practices in the Commodities and Derivatives Markets (CFTC Whistleblower Alert). 

Santa Barbara County Man Pleads Guilty to Wire Fraud in Investment Fraud Schemes that Promised Facebook, Twitter Stock (DOJ Release)

Puhlease tell me it can't be this easy. New York Fugitive Arrested at Cyril E. King Airport on Bank Fraud and Theft Charges (DOJ Release)

Again, Puhlease Tell Me It Ain't This Easy. SEC Seeks Emergency Relief to Halt Ponzi Scheme Run From College Fraternity House (SEC Release)

Here's one you don't see everyday! In the Matter of the Application of Constantine Gus Cristo for Review of Action Taken by FINRA (SEC Opinion)

FINRA Suspends Rep Over 215 Unsolicited Trades That Were Solicited. In the Matter of Curtis Ile, Respondent (FINRA AWC)

The Nexus of Equity Market Structure and Investor Relations: Remarks at the 2019 Annual Conference of the National Investor Relations Institute by Brett Redfearn, Director, SEC Division of Trading and Markets

Wells Fargo Found Guilty of Defaming Stockbroker for Storing Customer Property
( Blog)

SEC Denies Modification of Bars Imposed Via Settlement. In the Matter of Gregory Osborn (SEC Order)

South Florida Resident Sentenced to More than Eighteen Years in Prison for Impersonating a Member of the Saudi Royal Family in Order to Swindle Millions from Investors / The Impersonation Scheme Involved Wire Fraud, Fake Diplomatic License Plates, Expensive Jewelry, Artwork, Luxury Automobiles, Yachts, Private Jets, and International Trips (DOJ Release)

Florida Man Pleads Guilty In Telemarketing Scam (DOJ Release)

Stockbroker Barred for Undisclosed Loans from Customers and Conversion. In the Matter of David John Strnad, Respondent (FINRA AWC)

SEC Obtains Final Judgment Against Radio Host Charged in Ticket Resale Investment Scheme (SEC Release)