The Wall Street Legal & Regulatory Feed

Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

March 27, 2021


GUEST BLOG [In]Securities: The Impossible Dream by Aegis Frumento Esq (BrokeAndBroker.com Blog)

Financial Advisor of Global Investment Bank Sentenced in Federal Court in Maryland to Five Years in Prison for $6 Million Wire Fraud and Investment Adviser Fraud Scheme / Virginia-based Financial Advisor in Wealth Management Section of Bank Used Stolen Victim Funds to Pay His Own Lifestyle Expenses, Including Country Club Membership Fees (DOJ Release)

Former Evansville Plastics Company Executives Sentenced for Securities Fraud Scheme / Former CEO and COO concealed critical defects of Lucent Polymers before selling company and receiving hundreds of thousands of dollars (DOJ Release)

Former Oil Trader Pleads Guilty to Commodities Price Manipulation Conspiracy / A California man pleaded guilty Wednesday to a multiyear conspiracy to engage in commodities price manipulation. (DOJ Release)

CFTC Charges Former Fuel Oil Trader with Manipulating Fuel Oil Benchmark / Trader Admits to Manipulative and Illegal Conduct, Enters into a Cooperation Agreement (CFTC Release)

Nigerian National in Collin County Sentenced for Multimillion-Dollar Fraud and Money Laundering Scheme Which Victimized Senior Citizens, School Districts, and Charities / Defendant Engaged in Identity Theft, Cyber Fraud, and Elder Fraud, Laundering Money for Overseas Co-Conspirators - Ordered to Serve 34 Years in Prison and Repay Close to $2 Million (DOJ Release)

Six Individuals Charged with Using Various Online Scams to Defraud Victims of More Than $4 Million (DOJ Release)

Heightened Threat of Fraud / FINRA Alerts Firms to Recent Increase in ACH "Instant Funds" Abuse (FINRA Regulatory Notice)

FINRA Fines and Suspends Rep for Matched Trades and Undisclosed Accounts
In the Matter of Scott Richard Reynolds, Respondent (FINRA AWC)

Remember The Story About The Bernie Sanders Coffee Cup Filled With Feces At Cantor Fitzgerald? (BrokeAndBroker.com Blog)

The FINRA Investor Education Foundation Is A Lonely Hunter (BrokeAndBroker.com Blog)

Schwab Sued Over Allegedly Malfunctioning Order System (BrokeAndBroker.com Blog)

11 Cir Sees No Breach of Contract by Ohio National in Variable Annuity Commissions Lawsuit  (BrokeAndBroker.com Blog)


Remember The Story About The Bernie Sanders Coffee Cup Filled With Feces At Cantor Fitzgerald? (BrokeAndBroker.com Blog)

FINRA Arbitrator Awards Damages to Customer Against Charles Schwab & Co. for IRA Rollover Paperwork Delays
In the Matter of the FINRA Arbitration Between Cynthia Jo Gruchalski, Claimant, v. Charles Schwab & Co., Respondent (FINRA Arbitration Award)

Five Face Federal Charges for Alleged Nationwide Elder Fraud Scam / Group allegedly traveled the country collecting thousands in cash sent by elder victims who were led to believe their relatives were in serious trouble (DOJ Release)

German Attorney Pleads Guilty to Money Laundering / Defendant Laundered More Than $1.1 Million through a Hong Kong Shell Company (DOJ Release)

Popular Instagram Personality Known as "Jay Mazini" Charged with Wire Fraud / Defendant Allegedly Induced Victims to Sell Him Millions of Dollars Worth of Bitcoin Under False Pretenses (DOJ Release)

Jury Convicts Architects Of Scheme To Fraudulently Process Over $150 Million Through U.S. Financial Institutions (DOJ Release)

Coppell Man Pleads Guilty to $24 Million COVID-Relief Fraud Scheme (DOJ Release)

FINRA Fines and Suspends Rep for Using Another Rep's Name and Code
In the Matter of Christopher Nelson, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Reviewing Prohibited Study Materials in Testing Center Restroom
In the Matter of Grace M. Casella, Respondent (FINRA AWC)

The FINRA Investor Education Foundation Is A Lonely Hunter (BrokeAndBroker.com Blog)

Schwab Sued Over Allegedly Malfunctioning Order System (BrokeAndBroker.com Blog)

11 Cir Sees No Breach of Contract by Ohio National in Variable Annuity Commissions Lawsuit  (BrokeAndBroker.com Blog)


The FINRA Investor Education Foundation Is A Lonely Hunter (BrokeAndBroker.com Blog)

Brooklyn Man Charged in Long-Running International Insider Trading Scheme / Defendant Allegedly Received Tips from a Company Insider and a Reporter at a Financial News Organization (DOJ Release)

Serial Fraudster Sentenced To Over Three Years In Prison For Scamming Elderly Victims Out Of Hundreds Of Thousands Of Dollars In Fraudulent Payment Scheme / Michael Pizarro Had Previously Been Convicted of a Similar Offense And Continued To Perpetrate The Scheme Even After His Arrest In This Case (DOJ Release)

SEC Charges Unregistered Brokers Who Sold Equialt Securities to Retail Investors (SEC Release)

Request to amend Financial Industry Regulatory Authority (FINRA) Rules 12904 and 13904 to allow FINRA to cease publication of expunged arbitration awards and to redact identifying information in expunged arbitration awards (Public Petition for Rulemaking on SEC.gov)

Schwab Sued Over Allegedly Malfunctioning Order System (BrokeAndBroker.com Blog)

11 Cir Sees No Breach of Contract by Ohio National in Variable Annuity Commissions Lawsuit (BrokeAndBroker.com Blog)




CFTC Orders Coinbase Inc. to Pay $6.5 Million for False, Misleading, or Inaccurate Reporting and Wash Trading (CFTC Release)

Foreign Nationals Sentenced for Roles in Transnational Cybercrime Enterprise / The Infraud Organization victimized millions of people in all 50 states and caused more than $568 million in financial losses (DOJ Release)

11 Cir Sees No Breach of Contract by Ohio National in Variable Annuity Commissions Lawsuit (BrokeAndBroker.com Blog)

An Honest Conversation about ESG Regulation (Speech by SEC Commissioner Elad L. Roisman)

Former Employee of Federal Reserve Board Pleads Guilty to Theft of Government Property / Removed Proprietary Documents Prior to Quitting His Job (DOJ Release)

FINRA Fines and Suspends Rep for Unsuitable  and Discretionary Trading
In the Matter of Edmund Zack, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep for Average-Pricing Executions and Unauthorized Trades
In the Matter of Trevor Rahn, Respondent (FINRA AWC)

FINRA Fines and Bars Former CCO For Failing to Reasonably Monitor Trading Activities
In the Matter of Corey A. White, Respondent (FINRA AWC)

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