Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

October 31, 2020

Permanent Bar Proves Less Than Permanent As SEC Approves Return to Industry ( Blog)

Two Admit to Using Casinos to Facilitate Financial Crime (DOJ Release)

This start-up promised higher interest rates on savings. Now some customers are struggling to get their money back (CNBC by Lorie Konish, Scott Cohn, and Dawn Giel)

Feds accuse Visa consultant of stonewalling on documents as legal wrangling heats up in antitrust investigation into Visa acquisition of Plaid / Visa paid Bain & Co. for insights on competitive position and pricing. The DOJ says it has a right to documents as part of its antitrust investigation (RIABiz by Oisin Breen)

FINRA Fines and Suspends Rep over Real Estate OBA
In the Matter of William T. Burke, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep over PSTs
In the Matter of Andrew J. LeBlanc II, Respondent (FINRA AWC)

FINRA Censures and Fines National Securities Corporation over U4 and U5 filings, Customer Complaint reporting, and Contingency Offerings
In the Matter of National Securities Corporation, Respondent (FINRA AWC)

SEC Adopts Modernized Regulatory Framework for Derivatives Use by Registered Funds and Business Development Companies (SEC Release)

Modernizing the Regulatory Framework for Funds' Use of Derivatives (Statement by SEC Chair Clayton)

Opening Statement on Use of Derivatives by Registered Investment Companies and Business Development Companies (SEC Commissioner Hester Peirce)

Statement on Regulation of Funds' Use of Derivatives (SEC Commissioner Elad L. Roisman)

Statement on the Final Rule on Fund's Use of Derivatives (SEC Commissioner Allison Herren Lee)

Statement on Funds' Use of Derivatives (SEC Commissioner Caroline A. Crenshaw)

California Court of Appeal Holds Its Ground After Rehearing Tilkey v. Allstate ( Blog)

FINRA Member Firm Prevails in Rare Indemnification Arbitration Against Former Employee
In the Matter of the Arbitration Between Capital Financial Services, Inc., Claimant, v. Steven Roland Knuttila, Respondent (FINRA Arbitration Award)v

SEC Charges Seven Individuals with Unregistered Brokerage Activity Related to the Sale of Numerous Microcap Securities (SEC Release)

Irvine Man Charged in Investment Scheme that Took In Millions with False Promises of Solar Panels Enhanced with Nanotechnology (DOJ Release)

Self-Styled Diamond And Gold Exporter Sentenced To Nine Years In Prison For Wire Fraud And Commodities Fraud / Dual U.S./Swiss Citizen Convicted of Fraudulently Soliciting Millions In Investment Scheme To Purportedly Export Diamonds and Gold From Africa (DOJ Release)

Rep Fined and Suspended by FINRA for Private Securities Transactions
In the Matter of David Allen Walters, Respondent (FINRA AWC)