Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

October 10, 2020

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5471/securities-industry-commentator/

Libor Law Is Adrift in Albany and Wall Street Is Getting Nervous (Bloomberg by William Shaw and Keshia Clukey)

Kitsap County guardian sentenced to one year in prison for stealing more than $250,000 from elderly and disabled clients / Defendant was appointed by Kitsap County and Suquamish Tribal Court judges to handle finances -- stole from clients for more than seven years (DOJ Release)

2Cir Reverses SDNY and Reinstates Archer Securities Fraud/Conspiracy Conviction

United States of America, Appellant, v. Devon Archer, Defendant/Appellee; Jason Galanis, Gary Hirst, John Galanis a/k/a "Yanni," Hugh Dunkerley, Michelle Morton and Bevan Cooney, Defendants (2Cir Opinion)

Former CEO Of Houston-Based Seismic Data Acquisition Company Charged In Accounting Fraud Scheme (DOJ Release)

SEC Charges Seismic Data Company, Former Executives With $100 Million Accounting Fraud (SEC Release)

FINRA Fines and Suspends Rep Over Tax Preparation Services

In the Matter of Stephen Leroy Whittaker, Respondent (FINRA AWC)

Attorney General William P. Barr Announces Publication of Cryptocurrency Enforcement Framework (DOJ Release)

[In]Securities Guest Blog: Don't Know Much by Aegis Frumento Esq (BrokeAndBroker.com Blog)

NOTICE to Securities Industry Commentator and BrokeAndBroker.com Readers

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5470/securities-industry-commentator/

NOTICE to Securities Industry Commentator and BrokeAndBroker.com Readers

Phishing Email Purporting to Be From FINRA / FINRA Alerts Firms to Phishing Email Requesting Them to Respond to Fraudulent FINRA Survey (FINRA Regulatory Notice)

Former Cetera Rep Sues AdvisorNet Financial Over Alleged Supervision and Compliance Failures (BrokeAndBroker.com Blog)

CEO of Financial Firm Pleads Guilty to Running Multi-Million Dollar Securities and Tax Fraud Scheme, and Operating an Unlicensed Money Services Business (DOJ Release)

FINRA Fines and Suspends Rep Over Senior-Living Real Estate Project Promissory Notes

In the Matter of Dwight L. Dykstra, Respondent (FINRA AWC)

SEC Proposes Conditional Exemption for Finders Assisting Small Businesses with Capital Raising (SEC Release)

Open Meeting on Proposed Finders Exemption - Providing Regulatory Clarity to Benefit Small Businesses (Chairman Jay Clayton)

Statement at Open Meeting on Proposed Exemptive Order for Certain Activities of Finders (Commissioner Hester M. Peirce)

Statement at Open Meeting Considering a Proposed Exemptive Order for Finders (Commissioner Elad L. Roisman)

Regulating in the Dark: What We Don't Know About Finders Can Hurt Us (Commissioner Allison Herren Lee)

Statement on Proposed Exemptive Relief for Finders (Commissioner Caroline A. Crenshaw)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5469/securities-industry-commentator/

Not Enough Bull In Stairway to Heaven (BrokeAndBroker.com Blog)

Jersey/Swiss Financial Services Firm Admits to Conspiring with U.S. Taxpayers to Hide Assets and Income in Offshore Accounts (DOJ Release)

CFTC Posts Record-Breaking Enforcement Year / Filed More Enforcement Actions Than Any Other Year In Agency's 45-Year History (CFTC Release)

Connecticut Man Pleads Guilty to Ponzi and Tax Fraud Scheme (DOJ Release)

FINRA Fines and Suspends Investment Banking Rep Over Exempted Securities Transactions

In the Matter of Steven Michael Gribben, Respondent (FINRA AWC)

CFTC Unanimously Approves a Final Rule Amending Form CPO-PQR (CFTC Release)

Statement of Chairman Heath P. Tarbert in Support of Revising Form CPO-PQR

Supporting Statement from Commissioner Brian Quintenz on Final Rule to Amend Compliance Requirements for Commodity Pool Operators on Form CPO-PQR

Concurring Statement of Commissioner Rostin Behnam Regarding the Amendments to Compliance Requirements for Commodity Pool Operators and Form CPO-PQR

Statement of Commissioner Dawn D. Stump Regarding Final Rule: Amendments to Compliance Requirements for Commodity Pool Operators on Form CPO-PQR

Statement of Commissioner Dan M. Berkovitz Regarding Form CPO-PQR Reporting Requirements for Commodity Pool Operators: Final Rule

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5468/securities-industry-commentator/

Federal Court Confirms Merrill Lynch's Counterclaim Victory In Puerto Rico Bond Arbitration (BrokeAndBroker.com Blog)

John McAfee Indicted for Tax Evasion / Allegedly Hid Cryptocurrency, a Yacht, Real Estate and Other Properties in Nominee Names to Evade Taxes (DOJ Release)

SEC Charges John McAfee With Fraudulently Touting ICOs (SEC Release)

Former Investment Advisor Sentenced to 17 Years in Prison in Multi-Million Dollar Investment Fraud Scheme that Victimized Professional Hockey Players and Long Island Investors (DOJ Release)

SEC Staff Releases Report on U.S. Credit Market Interconnectedness and the Effects of the COVID-19 Economic Shock (SEC Release)

SEC Obtains Final Judgment Against, and Suspends, Accountant Formerly with Construction Management Consulting Company (SEC Release)

FINRA Fines and Suspends Rep Over Payroll Services OBA

In the Matter of Tracy M. Meade, Respondent (FINRA AWC)

Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5467/securities-industry-commentator/

Pro Se Customer Alleges Unsuitability of Self Directed Put Sales (BrokeAndBroker.com Blog)

Despite dissenting Fed vote, Charles Schwab Corp. cleared to close TD merger Tuesday, and 'Schwabitrade' looks less fearsome than anticipated (RIABiz / October 1, 2020 by Oisin Breen)

Federal Jury Hands Down Guilty Verdict Against Charlotte Woman For Stealing $300,000 From An Elderly, Dementia-Afflicted Victim / Two Other Co-Conspirators Previously Pleaded Guilty for Their Role in the Theft (DOJ Release)