Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

July 4, 2020

Notice of Filing of a Proposed Rule Change to Adopt FINRA Rule 3241 (Registered Person Being Named a Customer's Beneficiary or Holding a Position of Trust for a Customer) (SEC Release)

Manhattan apartment sales worst on record, biggest plunge in 30 years (CNBC by Robert Frank)

U.S. farmers scramble for help as COVID-19 scuttles immigrant workforce (Reuters by Mark Weinraub, Julie Ingwersen)

Defendant Charged In Connection With Fraudulent Silver Trading Program Pleads Guilty To Money Laundering (DOJ Release)

SEC Charges Alexion Pharmaceuticals With FCPA Violations (SEC Release)

SEC Obtains Final Judgments Against Florida Participants in Fraudulent Offering Scheme Involving Investments of CMOs (SEC Release)

West Monroe Man Sentenced for Bilking Nearly $2 Million from Online Customers (DOJ Release)

[In]Securities Guest Blog: Freedom Flashing by Aegis Frumento Esq ( Blog)

$25,000 E*Trade Pattern Day Trading Minimum Deposit Requirement Challenged in Federal Lawsuit Against FINRA ( Blog)

Citi Pulls Back on Plans for Office Return in 13 States (Bloomberg by Jennifer Surane)

SEC Obtains Judgment Ordering Connecticut Investment Adviser and Its Former CEO to Pay Over $2 Million (SEC Release)

Bergen County Man Arrested in $1.5 Million Investment Fraud Scheme (DOJ Release)

SEC Charges New Jersey Man and His Private Company with Fraud (SEC Release)

U.S. Seeks to Recover Approximately $96 Million Traceable to Funds Allegedly Misappropriated from Malaysian Sovereign Wealth Fund (DOJ Release)

Carthage Couple Pleads Guilty to Embezzling From Joplin Businesses (DOJ Release)

FINRA Imposes Censure and Fine on Valmark for Email Retention Practices.
In the Matter of Valmark Securities, Inc., Respondent (FINRA AWC)

Eileen Murray Elected Chairperson of FINRA Board of Governors / Maureen Jensen and Eric Noll Appointed as New Public Governors (FINRA Release)

FINRA Settles Untimely Disclosure of Four Felony Charges Without Willfulness Finding ( Blog)

FINRA Imposes Fine and Suspension for Rep's Private Securities Transactions
In the Matter of Henry A. Taylor III, Respondent (FINRA AWC)

Supreme Court Denies Defendants' Challenge to CFTC's Enforcement Authority

US Supreme Court Says "" Is Not An Ineligible Generic Name Per Federal Trademark 
United States Patent and Trademark Office, et al., Petitioners, v. B.V. (Opinion, US Supreme Court)

Ex-Husband of 'Real Housewives of New Jersey' Star and Lucchese Crime Family Soldier Indicted for Assault and Other Crimes (DOJ Release)

The Department of Justice Warns of Inaccurate Flyers and Postings Regarding the Use of Face Masks and the Americans with Disabilities Act (DOJ Release)

Coming soon to a 3D printer near you: Plant-based steaks (Reuters by Tova Cohen, Silke Koltrowitz)

New strain of flu found in China has potential to become a pandemic, scientists warn (CNBC Release by Holly Ellyatt)

Costco Uses Supreme Court's CFPB Ruling to Force Patriotic Americans to Eat Leftist Round Cakes ( Blog)

Torture, Terror, and Revenge in Battle Over Fabled Irish Company / Sean Quinn was once a billionaire folk hero, but then things turned very dark in the borderlands.(Bloomberg by Kit Chellel and Liam Vaughan)

2Cir Sustains Regulation Best Interest
XY Planning Network, LLC et al. v. United States Securities and Exchange Commission and Walter Clayton, Respondents (Opinion, 2Cir)

SEC Charges BNP Paribas with Violations of Regulation SHO (SEC Release)

SEC Updates Filing Threshold to Rule 17h Reporting Requirements for Broker-Dealers (SEC Release)

Pending home sales spike a record 44.3% in May, as homebuyers rush back into the market (CNBC by Diana Olick)

FINRA Imposes Fine, Disgorgement, and Suspension for Rep's Private Securities Transactions.
In the Matter of Gregory A. Ricker, Respondent (FINRA AWC)

Former CEO of Navistar International Corporation Barred from Serving in Senior Positions in Public Companies (SEC Release)

CFTC Charges Chicago-Based Firm and Six Individuals in Multi-Million Dollar Options Fraud Scheme (CFTC Release)

CFTC Orders Illinois Firm to Pay $250,000 for Supervision Violations / Failure to Supervise Put Seniors' Retirement Savings at Risk (CFTC Release)

Hampton Woman Sentenced to 18 Months for Mail Fraud Targeting Restaurants and Insurance Companies (DOJ Release)

Glendale Man Pleads Guilty to Bank Fraud for Role in Credit Card 'Bust-Out' Scheme Used to Buy Cemetery Plots, Luxury Cars (DOJ Release)