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The Securities and Exchange Commission today adopted rule changes to shorten the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one (T+1). The final rule is designed to… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced that The Options Clearing Corporation (OCC) will undertake remedial efforts and pay $17 million in penalties to settle charges that it failed to comply with its SEC-approved Stress Testing and… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced charges against former NBA player Paul Pierce for touting EMAX tokens, crypto asset securities offered and sold by EthereumMax, on social media without disclosing the payment he received for the… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today charged Milan Vinod Patel, of Cumming, Georgia, for spreading more than 100 false rumors about public companies to generate more than $1 million in illicit trading profits. The SEC previously charged Barton… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. 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,… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today proposed a rule that would revise the Commission’s regulations under the Privacy Act. The Privacy Act is the principal law governing the handling of personal information in the federal government. The current… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. 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… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. 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… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. 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
Category Archives: SEC Enforcement
SEC Finalizes Rules to Reduce Risks in Clearance and Settlement
SEC Charges Options Clearing Corporation with Rule Failures
SEC Charges Terraform and CEO Do Kwon with Defrauding Investors in Crypto Schemes
SEC Charges NBA Hall of Famer Paul Pierce for Unlawfully Touting and Making Misleading Statements about Crypto Security
SEC Charges Final Participant in Multi-Million Dollar Scheme to Spread and Trade on False Rumors about Public Companies
SEC Proposes Enhanced Safeguarding Rule for Registered Investment Advisers
SEC Proposes Revision to Privacy Act Rule
SEC Seeks Applicants for Public Company Accounting Oversight Board Seat
Kraken to Discontinue Unregistered Offer and Sale of Crypto Asset Staking-As-A-Service Program and Pay $30 Million to Settle SEC Charges
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).