SEC Seeks Candidates for Investor Advisory Committee

The Securities and Exchange Commission is seeking candidates for appointment to the Investor Advisory Committee to help protect investors and improve securities regulations. The committee was established under the Dodd-Frank Wall Street Reform and…

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Earnings season is here

 From CNN:

https://www.cnn.com/2022/01/14/investing/premarket-stocks-trading/index.html

Tech stocks have been plunging as Wall Street obsesses over the Federal Reserve’s next moves and how aggressively it will hike borrowing costs over the next 12 months to rein in inflation.

But attention could soon shift elsewhere as corporate earnings season arrives, delivering a distraction from the economy and the unknowns that lie ahead.
What’s happening: S&P 500 earnings are expected to have increased by 22.4% compared to the previous year during the final three months of 2021, according to Refinitiv. That would be a strong showing.
    In a note to clients on Friday, UBS said that despite a volatile start to the year, it does not think a more hawkish Fed will “derail” the stock market rally, and that earnings season will “turn investor attention back to robust fundamentals.”

      How Many FINRA Enforcement Lawyers Does It Take To Prosecute A Default Case?

      Bill Singer posts about the overkill by FINRA Enforcement in obtaining a default order against an 89 year old registered representative who had been out of the business for 17 months.

      No one disputes FINRA’s need to sanction those who do not make timely disclosures on their CRD filings, but “Four Enforcement attorneys, one OHO Hearing Officer, pre-hearings, an Order to Show Cause, a show-cause hearing, a default hearing, a DEFAULT DECISION, and a raging Covid pandemic — and all of that to go after an 89-year-old Respondent who had been in our biz since 1970 and was last terminated in July 2020.”

      Bill has a point.

      SEC Issues Awards Totaling More Than $4 Million to Two Whistleblowers

      The Securities and Exchange Commission today announced two awards totaling more than $4 million to whistleblowers who provided information and assistance in two separate covered actions. In the first order, the SEC issued an award of approximately $2.6…

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      SEC Awards Over $13 Million To Whistleblower

      The Securities and Exchange Commission today announced an award of more than $13 million to a whistleblower whose information and assistance prompted the opening of an investigation and significantly contributed to the success of an SEC enforcement…

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      SEC Charges ICO Issuer and Founder with Defrauding Investors

      The Securities and Exchange Commission today announced charges against Australian citizen Craig Sproule and two companies he founded, Crowd Machine, Inc. and Metavine, Inc., for making materially false and misleading statements in connection with an…

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      SEC Charges Three Florida Residents in Multi-Million Dollar Insider Trading Scheme

      The Securities and Exchange Commission today announced charges against three Florida residents for trading in advance of market moving announcements involving DSW Inc., Rite Aid Corporation, and an attempt to acquire Aphria Inc., a Canadian cannabis-…

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      SEC Charges Additional Defendant in Phony Certificates of Deposit Scam

      The Securities and Exchange Commission today charged Allen C. Giltman, a former registered investment professional, with allegedly participating in a long-running fraudulent scheme to lure investors into buying fictitious certificates of deposit (CDs).…

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      Chair Gensler Announces Additions to Executive Staff

      The Securities and Exchange Commission today announced the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer, and Jorge Tenreiro to Chair Gary Gensler’s executive staff. “Corey, Phil, Jenny, and Jorge have exceptional experience,” said…

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      SEC Charges Financial Company and Its President with Engaging in Fraudulent Schemes to Boost Stock Price

      The Securities and Exchange Commission today charged Medallion Financial Corp., a Delaware company headquartered in New York, NY, and its President and Chief Operating Officer, Andrew Murstein of New York, NY, with illegally engaging in two schemes in an…

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