Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

October 24, 2020

Court Denies "Alternate Theory of Guilt" Motion for Dismissal
United States of America v. Michael Watts, Defendant (EDNY Memorandum and Order)

Notice of Filing of a Proposed Rule Change to Amend the FINRA Codes of Arbitration Procedure to Increase Arbitrator Chairperson Honoraria and Certain Arbitration Fees (SEC Notice)

Ex-President of Ohio Healthcare Management Company Pleads Guilty in $59 Million Check Kiting Scheme Targeting S&T Bank (DOJ Release)

Six Defendants Charged in Scheme to Defraud Student Loan Programs of More Than $12 Million (DOJ Release)

FINRA Imposes Fine and Suspension on Rep for Pension Stream PSTs.
In the Matter of Troy R. Baily, Respondent (FINRA AWC)

FINRA Imposes Censure and Fine on Member Firm for Misclassifying Personal Expenses
In the Matter of CapFi Financial Partners LLC, Respondent (FINRA AWC)

FINRA Fines Small Firm And its Owner For Misclassification of Expenses ( Blog)

Rep Sentenced to 90 Months in Federal Prison On 21 Counts ( Blog)

Former Stockbroker Sentenced In Scheme To Defraud Elderly Victims Through The Sale Of Worthless Stock (DOJ Release)

Orlando Man Pleads Guilty To Multi-Million Dollar Investment Fraud Conspiracy (DOJ Release)

SEC Obtains Judgment Against Colorado Ponzi Scheme Operator (SEC Release)

FINRA Fines and Suspends AMLCO Over Allegedly Failed AML Program Implementation 
In the Matter of Thomas Michael Rensvold, Respondent (FINRA AWC)

SEC Updates Auditor Independence Rules (SEC Release)

Promoting an Effective Auditor Independence Framework, by Chairman Jay Clayton

Who Watches the Watchers?* Joint Statement on Auditor Independence Amendments, by Commissioners Allison Herren Lee and Caroline A. Crenshaw

Statement on Order Approving a Wireless Fee Schedule Setting Forth Available Wireless Bandwidth Connections and Wireless Market Data Connections, by Commissioner Hester M. Peirce