Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

April 1, 2023

Securities Industry Commentator:
A legal, regulatory, and compliance feed
curated by veteran Wall Street lawyer Bill Singer https://www.rrbdlaw.com/6960/securities-industry-commentator/

GUEST BLOG: [In]Securities: The Influencers: The SEC Grounds Stars' TRX by Aegis Frumento Esq (BrokeAndBroker.com Blog)

FINRA Shamefully Fines and Suspends Rep For Mistakenly Using A Rep Code (BrokeAndBroker.com Blog)

FINRA Doesn't Bank On It When It Comes To Wife Of Former UBS Employee (BrokeAndBroker.com Blog)

Federal Reserve Board fines Wells Fargo $67.8 million for inadequate oversight of sanctions risk at its subsidiary bank

ChatGPT and AI might have a future as your portfolio manager, study suggests (CNBC by Jesse Pound)

Ronald H. Filler Institute for Financial Services Law / SPECIAL PROGRAM ON FINANCIAL SERVICES LAW (TUESDAY, APRIL 11, 2023)

Financial Professionals Coalition, Ltd. JOIN TODAY -- FREE MEMBERSHIP (BrokeAndBroker.com Blog)

Financial Professionals Coalition, Ltd Endorses Ronald Filler, Esq's FINRA Petition for Direct Registration Exam (BrokeAndBroker.com Blog)

DOJ RELEASES

Former Partner at Broker-Dealer Firm Charged with $3.4 Million Insider Trading Scheme (DOJ Release)

Essex County Woman Admits Role in $25 Million Securities Fraud Scheme Involving Blockchain Technology Company (DOJ Release)

New Jersey Man Pleads Guilty to Conspiring with Someone Posing as DEA Agent to Defraud Victim of Gold (DOJ Release)

Recidivist Fraudster Pleads Guilty To $40 Million Ponzi Scheme / Franklin Ray Also Pled Guilty to SBA Loan Fraud and Another Fraud Scheme (DOJ Release)

Former Law Firm Partner Arrested For Bankruptcy Fraud / Defendant Submitted Fake Bank Record to Court (DOJ Release)

Defense Company CEO Pleads Guilty To Conspiracy To Defraud Investors And Creditors (DOJ Release)

North Carolina Man Charged with $7 Million Ponzi Scheme (DOJ Release)

United States of America, v. Samuel Bankman-Fried a/k/a "SBF," Defendant (Superseding Indictment)

Queens Man Pleads Guilty to Real Estate Fraud Scheme (DOJ Release)

Foreign National Sentenced for Victimizing U.S. Persons Through Cyber-Enabled Fraud Schemes (DOJ Release)

Queens Investment Advisor Indicted for Multi-Million Dollar Securities Fraud Scheme / Victim Gave the Defendant More than $4 Million to Purchase Securities Which He Used to Pay Personal Expenses and for Day Trading (DOJ Release)

SEC RELEASES

SEC Charges North Carolina Investment Firm and Its Principal for Recommending Clients Invest Millions in Unsuitable, Risky Deals (SEC Release)

SEC Obtains Judgment Against Siblings Who Orchestrated Massive Crypto Asset Fraud (SEC Release)

SEC Charges Hedge Fund Trader and Broker-Dealer Partner in Multi-Million Dollar SPAC Insider Trading Scheme (SEC Release)

SEC Charges Private Fund Auditor and Audit Engagement Partner with Improper Professional Conduct (SEC Release)

SEC Charges Crypto Trading Platform Beaxy and its Executives for Operating an Unregistered Exchange, Broker, and Clearing Agency / Market makers separately charged as unregistered dealers (SEC Release)

Brazilian Mining Company to Pay $55.9 Million to Settle Charges Related to Misleading Disclosures Prior to Deadly Dam Collapse (SEC Release)

Securities and Exchange Commission Obtains Final Judgment Against Massachusetts Investment Adviser Who Misappropriated Funds from Clients (SEC Release)

SEC Obtains Emergency Relief Against Long Island Investment Adviser and Firm Charged with Fraud (SEC Release)

SEC Charges Texas Resident with Orchestrating Three Separate Schemes Defrauding Investors Out of Over $8.4 Million (SEC Release)

SEC Denies Whistleblower Award to Claimant
Order Determining Whistleblower Award Claim

SEC Awards Whistleblower Award to Claimants 1, 2, and 4 But Denies Award to Claimant 3
Order Determining Whistleblower Award Claim

Testimony at Hearing before the Subcommittee on Financial Services and General Government by SEC Chair Gary Gensler

Fixed Income and Options: The Other Market Structures / Remarks at the Fixed Income Forum Spring Roundtable by SEC Commissioner Caroline A. Crenshaw

Staff statement regarding the risk legend used by non-transparent exchange-traded funds operating in reliance of an exemptive order under the Investment Company Act of 1940 (Division of Investment Management Staff)

CFTC RELEASES

CFTC Charges Chinese National with Fraudulent Scheme to Trade Against Employer (CFTC Release)

CFTC Orders New York-Based Commodity Pool Operator and Commodity Trading Advisor to Pay $400,000 Penalty for Supervision Failures (CFTC Release)

CFTC Charges Binance and Its Founder, Changpeng Zhao, with Willful Evasion of Federal Law and Operating an Illegal Digital Asset Derivatives Exchange (CFTC Release)

FINRA RELEASES

FINRA Censures and Fines Firm for Material Changes to Private Placements
In the Matter of Baker Tilly Capital, LLC, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep For Private Securities Transaction
In the Matter of Olivier Robert Gillier, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep For Discretionary Trades
In the Matter of Andrew J. Grant, Respondent (FINRA AWC)

FINRA Fines and Suspends Raymond James Rep For WhatsApp Use
In the Matter of Roman Meyerhans, Respondent (FINRA AWC)

Sanction Newbridge Securities Corporation for Alternative Mutual Fund Supervision
In the Matter of Newbridge Securities Corporation, Respondent (FINRA AWC)

FINRA Sanction NatAlliance Securities and Supervisor for Traders' Bond Marks
In the Matter of NatAlliance Securities, LLC and Jason Adams, Respondents (FINRA AWC)

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Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

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