Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

November 14, 2020

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5531/securities-industry-commentator/

Tulare County Man Arrested for Over $8 M Fraud that Purported to Turn Cow Manure into Renewable Energy (DOJ Release)

SEC Charges Former Wells Fargo Executives for Misleading Investors About Key Performance Metric (SEC Release)

After shaking down Bain for evidence, DOJ files suit to stop Visa purchase of Plaid, a nightmarish turn of events for the $5.3-billion dream deal (RIABiz by Brooke Southall)

Michigan and New Jersey Men Admit Participating in $10 Million Multi-State Bank Fraud

Staff Bulletin: Risks Associated with Omnibus Accounts Transacting in Low-Priced Securities (SEC Bulletin)

In the Matter of Daniel Suster (SEC Opinion)

Identities of SEC Whistleblower and Respondent Bank Outed

(BrokeAndBroker.com Blog)

Federal Court Dismisses Challenge to Six Year Old FINRA AWC (BrokeAndBroker.com Blog)

The Saad Saga Returns to Federal Court (BrokeAndBroker.com Blog)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5530/securities-industry-commentator/

Identities of SEC Whistleblower and Respondent Bank Outed (BrokeAndBroker.com Blog)

Christopher Brummer, Plaintiff, v. Benjamin Wey, FNL Media LLC, and NYG Capital LLC d/b/a New York Global Group, Defendants (Third Amended Complaint)

Most Wall Street workers to get lower 2020 bonuses: study (Reuters)

FINRA Fines and Suspends Rep Over Customer Gifts

In the Matter of Michael Alan Biedny, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep Over PSTs

In the Matter of John A. Westbrook, Respondent (FINRA AWC)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5529/securities-industry-commentator/

Fired Bankers' Job Prospects Fade With Firms Under Pressure to Cut Costs (Bloomberg by Elaine Chen)

Federal Court Dismisses Challenge to Six Year Old FINRA AWC (BrokeAndBroker.com Blog)

San Antonio Businessman Brian Alfaro Sentenced to Ten Years in Federal Prison on Mail Fraud Charges (DOJ Release)

CoConspirator Sentenced to 10 Years' Imprisonment in Multi-Million Dollar Investment Fraud Scheme that Victimized Professional Hockey Players and Long Island Investors (DOJ Release)

Former Financial Advisor Sentenced to 6 Years in Federal Prison for His Role in Scheme to Defraud Investors Out of $3.5 Million (DOJ Release)

In the Matter of Alexandre S. Clug, Aurum Mining, LLC, PanAm Terra, Inc., and the Corsair Group, Inc. (SEC Opinion and Order)

In the Matter of William J. Sears (SEC ALJ Initial Decision)

FINRA Imposes Censure and Fine on Member Firm for Failed Research Report Disclosures

In the Matter of Citigroup Global Markets, Inc., Respondent (FINRA AWC)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5528/securities-industry-commentator/

E-brokers report outages as Dow jumps 1,000 points in vaccine rally (CNBC by Maggie Fitzgerald)

How to Preserve the Privacy of Your Genomic Data / A technology called "fully homomorphic encryption" is so secure that even future quantum computers won't be able to crack it (Scientific American by Dario Gil)

Former CFO of Long Island Pharmaceutical Company Pleads Guilty to Insider Trading / Defendant Avoided Losses by Selling Company Stock Prior to Announcement of Negative Financial News (DOJ Release)

SEC Charges Former CFO of Now-Bankrupt Company with Insider Trading (SEC Release)

SEC Charges Three Individuals with Unregistered Brokerage Activity in the Sale of Microcap Securities (SEC Release)

Former Microsoft software engineer sentenced to nine years in prison for stealing more than $10 million in digital value such as gift cards / Used accounts and passwords of other employees - sold value online to pay for exotic car, waterfront home (DOJ Release)

New York Developer Robert Morgan Agrees to Settle Fraud Charges for Ponzi-Like Real Estate Investment Scheme (SEC Release)

Notice to Potential Victims Regarding Microcap Securities Fraud Scheme / Individuals who believe they may be potential victims are encouraged to notify the U.S. Attorney's Office (DOJ Release)

FINRA Bars Rep for Unsuitable Investment Strategy

In the Matter of Richard Michael Wesselt, Respondent (FINRA AWC)

FINRA Bars Rep for Insurance Premium Conversion

In the Matter of Lucas Mandon King, Respondent (FINRA AWC)