Fed’s Jackson Hole Meeting: Stocks Plunge After Powell Warns Inflation Requires ‘Restrictive’ Policy For ‘Some Time’
The highly awaited speech did little to calm investor fears that the economy may soon enter a recession.
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SEC Charges Infrastructure Company Granite Construction and Former Executive with Financial Reporting Fraud
The Securities and Exchange Commission today charged Granite Construction, Incorporated and its former Senior Vice President, Dale Swanberg, with fraud for inflating the financial performance of the major subdivision Swanberg managed. In 2021, Granite…

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https://seclaw.blogspot.com/2022/08/sec-charges-infrastructure-company.html

Firm fined for poor supervision

SEC Publishes Draft FY22-26 Strategic Plan for Public Comment
The Securities and Exchange Commission today released for public comment a draft strategic plan for fiscal years 2022 to 2026. “We can’t take our leadership in capital markets for granted,” said SEC Chair Gary Gensler. “Technology and business models…

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https://seclaw.blogspot.com/2022/08/sec-publishes-draft-fy22-26-strategic.html

Is It True That Cash Is King During A Recession?
Many believe that “Cash is King” during a recession – but that may not be true for every investor.
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Barred Broker and His Company Charged by SEC and DOJ with Defrauding Older Americans
Aug. 17, 2022 —The Securities and Exchange Commission today charged Global Business Development and Consulting Corp. (Global) and its owner, Anthony J. Mastroianni, Jr., in connection with a $1.2 million fraudulent promissory note scheme targeting older Americans.According to the SEC’s complaint, Mastroianni, a New Jersey resident, sold at least 11 investors promissory notes issued by his company, Global, beginning as early as 2017. The complaint alleges that Mastroianni induced investors, ranging in age from 64 to 82, to purchase the notes by promising exorbitant interest rates ranging from 50% to 175%. In 2016, Mastroianni was barred by the Financial Industry Regulatory Authority (FINRA) from associating with any registered broker-dealer after refusing to appear for testimony to answer allegations of, among other things, excessive trading in an elderly customer’s account.The SEC’s complaint further alleges that Mastroianni gave investors conflicting explanations of the nature of Global’s business, and often convinced them to roll-over their notes into new notes combining unpaid amounts with new investments by the investors. In reality, Global did not use investor monies to generate income and the SEC investigation determined that Mastroianni withdrew over $486,000 of investors’ money from Global’s bank account and also used ill-gotten funds for personal expenses on luxury items.”We allege that Mastroianni preyed on older Americans with an all too familiar promise of massively high returns when in reality their money was being withdrawn in cash and spent on purchases at Disney resorts, Tiffany & Co., and Gucci,” said Sheldon L. Pollock, Associate Director of the SEC’s New York Regional Office. “We will continue to hold accountable those who target investors for their own financial gain.”The SEC’s complaint, filed in federal district court in New Jersey, charges Mastroianni and Global with violating the antifraud provisions of the federal securities laws, and seeks disgorgement of ill-gotten gains with prejudgment interest, civil penalties, and permanent injunctive relief. In a parallel action, the U.S. Attorney’s Office for the District of New Jersey today announced criminal charges against Mastroianni.
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https://seclaw.blogspot.com/2022/08/sec-charges-barred-broker-and-his.html

Bed Bath & Beyond Falls Over 40% After Investor Ryan Cohen Sells His Entire Stake
Analysts warn that after a recent meme stock rally, Bed Bath & Beyond’s valuation has become further “disconnected” from reality.
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An Investor’s Challenge – Managing Parental Assets
The key is to step into their shoes
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How Have IPOs Performed So Far In 2022?
Are you considering investing in IPOs to get in on the ground floor as an investor? We look at how IPOs have performed so far in 2022 so that you know what to expect and what to watch out for.
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SEC Names Monique Winkler as Regional Director of San Francisco Office
The Securities and Exchange Commission today announced that Monique C. Winkler has been named Regional Director of the San Francisco Regional Office. Ms. Winkler has served as the office’s Acting Regional Director since March 2022 and as the Associate…

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https://seclaw.blogspot.com/2022/08/sec-names-monique-winkler-as-regional.html