SEC Proposes Enhanced Safeguarding Rule for Registered Investment Advisers
The Securities and Exchange Commission today proposed rule changes to enhance protections of customer assets managed by registered investment advisers. If adopted, the changes would amend and redesignate rule 206(4)-2, the Commission’s custody rule,…

Read the Full Press Release
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
#seclaw

Kraken to Discontinue Unregistered Offer and Sale of Crypto Asset Staking-As-A-Service Program and Pay $30 Million to Settle SEC Charges
The Securities and Exchange Commission today charged Payward Ventures, Inc. and Payward Trading Ltd., both commonly known as Kraken, with failing to register the offer and sale of their crypto asset staking-as-a-service program, whereby investors…

Read the Full Press Release
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
#finraattorney

Issues with Self-Directed IRAs
The SEC’s Office of Investor Education and Advocacy, the NASAA, and FINRA have updated the Investor Alert to warn investors of potential risks associated with self-directed Individual Retirement Accounts (self-directed IRAs).

Self-directed IRAs allow investment in a broader—and potentially riskier—portfolio of assets than other types of IRAs. Those assets may include real estate, private placement securities, precious metals and other commodities, and crypto assets. Investors should be mindful that investing through self-directed IRAs raises risks, including fraudulent schemes, high fees, and volatile performance.

Remember, with a self-directed IRA the investor has sole responsibility for evaluating and understanding the investments in the account. Are you confident enough to invest your retirement savings without the advice of a financial professional?

Read this:
https://www.finra.org/investors/insights/self-directed-IRAs-risk-of-fraud
#securitieslawyer
https://seclaw.blogspot.com/2023/02/the-secs-office-of-investor-education.html

SEC Division of Examinations Announces 2023 Priorities
The Securities and Exchange Commission’s Division of Examinations today announced its 2023 examination priorities. The Division publishes its examination priorities annually to provide insights into its risk-based approach, including the areas it…

Read the Full Press Release
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
#seclaw

SEC Seeks Applicants for Public Company Accounting Oversight Board Seat
The Securities and Exchange Commission today announced the start of the selection process to fill a seat on the Public Company Accounting Oversight Board (PCAOB) that will become vacant in October. The PCAOB appointment is for a five-year term from…

Read the Full Press Release
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
#seclaw

Jury Finds For Musk
A jury found that Musk was not liable for damages to Tesla investors for his “funding secured” tweet.
https://www.reuters.com/legal/securities-fraud-trial-over-elon-musks-2018-tweets-draws-close-2023-02-03/
#securitieslawyer
https://seclaw.blogspot.com/2023/02/jury-finds-for-musk.html

Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls Related to Complaints of Workplace Misconduct and Violating Whistleblower Protection Rule
The Securities and Exchange Commission today announced that Activision Blizzard Inc., a video game development and publishing company, agreed to pay $35 million to settle charges that it failed to maintain disclosure controls and procedures to ensure…

Read the Full Press Release
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
#finraattorney

What To Do When Your Muni Bond Rating Is Withdrawn
Publicly traded corporations that fail to file audited financial statements as prescribed by the SEC risk their stock tanking and being delisted from the exchange. Yet there is no consequence to those municipal bond issuers for the same failure to file. Until now.
#seclaw #securitieslawyer

Cannabis Stocks Get Increased Attention As More States Legalize Weed — Do Industry Leaders Like Aurora, Cresco, Evolv And Others Deserve A Place In Your Portfolio?
More and more states are legalizing marijuana with every passing year, but it’s still federally illegal. This may affect your decisions as an investor.
#securitieslawyer #securitiesattorney

SEC Publishes Annual Staff Report on Nationally Recognized Statistical Rating Organizations
The Securities and Exchange Commission today published a staff report that provides a summary of the staff’s examinations of nationally recognized statistical rating organizations (NRSROs) and discusses the state of competition, transparency, and…

Read the Full Press Release
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
#finralawyer