Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

June 27, 2020

SG Americas to Pay $3.1 Million to Settle Charges of Providing Deficient Blue Sheet Data (SEC Release)

SG Americas Securities, LLC Fined By FINRA Over EBS Deficiencies. 
In the Matter of SG Americas Securities, LLC (f/k/a Newedge USA, LLC), Respondent (FINRA AWC)

Luxury buyers seeking second homes in suburbs catapult growth among million-dollar listings / Luxury market is leading housing rebound, expert says (Fox Business by Brittany De Lea)

German payments firm Wirecard files for insolvency after revealing $2 billion accounting black hole (CNBC by Ryan Browne)

An Inside Job / Bank Robbery Trio's Missteps Led Investigators to Them (FBI Release)

[In]Securities Guest Blog: Manicula's Gopher by Aegis Frumento Esq
( Blog)

Religion Meets Profit Generation in a Slew of New Faith-Based ETFs / Funds aim to attract Muslims and Christians seeking to align their money and their values (Bloomberg by Claire Ballentine and Vildana Hajric)

Chuck E. Cheese parent files for bankruptcy, another casualty of pandemic (Reuters by Kanishka Singh)

FINRA Fines and Suspends Rep Over Outside Crypto Activities
In the Matter of Ryan M. Davis, Respondent (FINRA AWC)

British Man Sentenced To 70 Months In Prison For Fraud Scheme That Victimized Hundreds of Thousands of U.S. Consumers (DOJ Release)

Pennsylvania Attorney Settles with SEC in $1.4 Million Dollar Ponzi Scheme (SEC Release)

Ad agency counting BMW, PayPal and Pepsi as clients joins Facebook boycott (CNBC by Sam Shead)

Statement Of U.S. Attorney Geoffrey S. Berman On Announcement By Attorney General Barr (June 19, 2020)

Manhattan U.S. Attorney Berman refuses to leave after Trump says SEC chief Jay Clayton will replace him (CNBC Release by Dan Mangan)

Statement Of Geoffrey S. Berman (DOJ Release / June 20, 2020)

Robinhood increases guardrails on options trading in the wake of a customer suicide (CNBC by Kate Rooney)

U.S. banks are 'swimming in money' as deposits increase by $2 trillion amid the coronavirus (CNBC by Hugh Son)

U.S. Home-Mortgage Delinquencies Reach Highest Level Since 2011 (Bloomberg by John Gittelsohn)

Wirecard says missing $2.1B likely did not exist; withdraws forecasts / Chief Executive Officer Markus Braun quit on Friday (Fox Business)

Former Yellowstone Partners' CEO Sentenced to 5 Years in Prison (DOJ Release)

Federal Courts Says FINRA Arbitrators Wrongly Found Wrongful Discharge for Terminable-At-Will Employee.
James Warfield, Plaintiff, v. Icon Advisors, Inc. and Icon Distributors, Inc., Defendants (Order, United States District Court for the Western District of North Carolina, 20-CV-195)

Federal Court Confirms FINRA Arbitration Award But With More Words And Explanations ( Blog)