Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

January 18, 2020

Staten Island Man Sentenced to 33 Months' Imprisonment for Defrauding Investors in Virtual Currency Investors' Losses Total More Than $224,000 (DOJ Release)

Casino Cheaters Caught / Dealer and Player Conspired to Cheat two Maryland Casinos out of More Than $1 Million (FBI Release)

FINRA Settles Case Involving What Looks Like A Felony But Isn't ( Blog)

SEC Charges Eight Unregistered Brokers for Their Participation in Fraudulent Offerings of Microcap Securities (SEC Release)

SEC Charges Individual with Acting as an Unregistered Broker (SEC Release)

Mortgage Fraud Broker Sentenced For His Role In Mortgage Fraud Conspiracy (DOJ Release)

FINRA Imposes $400,000 Fine On Royal Alliance Over Theft of Customers' Funds by Two Reps. In the Matter of Royal Alliance Associates, Inc., Respondent (FINRA AWC)

Supreme Court vacates Second Circuit judgment and remands for reconsideration of whether ERISA imposes a duty on an ESOP fiduciary to act on inside information. Retirement Plans Committee of IBM, et al., Petitioners, v. Larry W. Jander, et al. (Opinion, United States Supreme Court)

FINRA Imposes $1 Million Fine On Prudential Investment Management Services For Retirement Plans' Supervisory Issues. In the Matter of Prudential Investment Management Services LLC, Respondent (FINRA AWC)

FINRA Fines Citigroup Global Markets Inc. For Reg SHO Supervisory Failures. In the Matter of Citigroup Global Markets Inc, Respondent (FINRA AWC)

SEC Obtains Emergency Asset Freeze, Charges Businessman With Operating a Ponzi-Like Scheme (SEC Release)

SEC Obtains Final Judgments Against Remaining Defendants in Fraudulent Stock Promotion Scheme (SEC Release)

SEC Obtains Judgments Against Two Attorneys in Fraudulent Scheme to Issue False Legal Opinions (SEC Release)

Advisor's $2.2M recruiting deal dissolved into $1.8M arbitration loss (plus interest) (On Wall Street by Andrew Welsch)