In response to an uptick in the amount of text messaging, personal email and social media use in the industry, the SEC recently released a risk alert, notifying advisers that it is paying closer attention to the risks involved with those types of communications.
As the New Year approaches, this post will highlight some of the most significant securities law decisions of 2018.
The SEC has filed a complaint in the Southern District of New York against former Rockland County, New York-based investment adviser, Hector May and his daughter, Vania Bell for misappropriating more than $7.9 million in a Ponzi-scheme involving the sale of bonds.
According to a study conducted by the New York University Pollack Center for Law & Business and Cornerstone Research, there has been an uptick in enforcement actions taken by the SEC against public companies and subsidiaries in the second half of this year.
The SEC has filed charges in Salt Lake City, Utah against businessmen J.T. Bramlette, Anthony Hartman, Travis Kozlowski and Aaron Wernli for carrying out a long-running and complex fraud on individuals who invested in the Melrose Resort on Daufuskie Island, South Carolina.
The SEC’s whistleblower program has been an important tool for individuals since 2011. The awards are distributed from an investor protection fund established by Congress. To obtain an award, the whistleblower’s information must be unique, useful and lead to a successful enforcement action.
The SEC has filed a complaint in Ohio federal district court against former broker, John Greg Schmidt for defrauding his retail brokerage customers out of over $1 million in a long-running scheme.
According to the SEC, the CEO of Woodbridge Group of Companies, Robert Shapiro, has agreed to settle allegations against him that he defrauded investors in a $1.2 billion real estate Ponzi scheme that drove his company into bankruptcy.
The SEC’s whistleblower program has been an important tool for individuals since 2011. The awards are distributed from an investor protection fund established by Congress. To obtain an award, the whistleblower’s information must be unique, useful and lead to a successful enforcement action.
According to the U.S. Department of Justice, Virginia investment adviser, Edward Lee Moody Jr. plead guilty to mail fraud and engaging in monetary transactions in criminally derived property in connection with orchestrating a thirteen-year Ponzi-scheme.
