Yes Virginia, when you have trading profits, the state and federal government want their cut.
Robinhood Traders Face The Taxman After Falling In Love With Stocks: Digital day traders now face a reckoning with short-term capital gains taxes.
Gamestop Frenzy Investigations
Financial press sources are reporting that the Justice Department’s fraud section and the U.S. attorney’s office are seeking information about the activity from brokers and social-media companies that were hubs for the trading frenzy.
Last week we posted that the SEC and prosecutors would open investigations into the trading in Gamestop and AMC, and now they have. Prosecutors have subpoenaed information from brokers such as Robinhood Markets Inc.
The WSJ is also reporting that the Commodity Futures Trading Commission “has opened a preliminary investigation into whether misconduct occurred as some Reddit traders targeted silver futures and the largest exchange-traded fund tied to silver, the iShares Silver Trust.”
SEC Suspends Trading in Inactive Issuer Touted on Social Media
The Securities and Exchange Commission today suspended trading in an inactive company amid questions surrounding online promotion of the company’s securities and recent trading activity. The SEC’s trading suspension order states that since late January…
Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
John Coates Named Acting Director of the Division of Corporation Finance
The Securities and Exchange Commission announced today that John Coates will serve as Acting Director of the agency’s Division of Corporation Finance. Mr. Coates has been the John F. Cogan Professor of Law and Economics at Harvard University,…
Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
Acting Chair Allison Herren Lee Announces Executive Staff
The Securities and Exchange Commission today released a roster of the executive staff for Acting Chair Allison Herren Lee. The executive staff is responsible for advising the Chair on matters before the Commission, working closely with agency staff, and…
Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
SEC Charges Investment Adviser and Others With Defrauding Over 17,000 Retail Investors
The Securities and Exchange Commission today charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment…
Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
Analysis of Robinhood, Gamestop and Reddit Issues
The New York State Bar Association has just featured an analysis of the issues surrounding the Gamestop saga titled “What Is the SEC Going To Do About GameStop?” authored by Joshua Bautz, Esq. from the SEC law firm of Sallah Astarita & Cox, LLC.
Josh discusses the potential federal securities law violations by Wallstreetbets, potential market manipulation liability, potential disclosure violations, the potential violations by Robinhood, and the impact of the entire saga on the securities markets.
The article, What is the SEC Going to Do About Gamestop is at the Association’s website.
Katherine K. Martin, Associate Director in the Office of International Affairs, to leave SEC
The Securities and Exchange Commission today announced that Katherine K. Martin, Associate Director in the Office of International Affairs, will leave the agency in February after 15 years of public service. For the last five years, Ms. Martin oversaw…
Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
Kelly L. Gibson Named Acting Deputy Director of Division of Enforcement
The Securities and Exchange Commission today announced that Kelly L. Gibson, currently the Director of the Philadelphia Regional Office, has been named the Acting Deputy Director of the Division of Enforcement. “Kelly is a proven leader and a talented…
Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
Satyam Khanna Named Senior Policy Advisor for Climate and ESG
Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
The post Satyam Khanna Named Senior Policy Advisor for Climate and ESG appeared first on SECLaw.com.
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