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The Securities and Exchange Commission today announced an award of more than $28 million to joint whistleblowers who provided critical information and assistance in an SEC enforcement action. The joint whistleblowers’ detailed information prompted the… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced three awards totaling approximately $18 million to three whistleblowers whose information and assistance led to a successful enforcement action. The first whistleblower provided the SEC with… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission is seeking candidates for appointment to the Small Business Capital Formation Advisory Committee to provide advice and recommendations on Commission rules, regulations, and policy matters relating to small… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today charged Genesis Global Capital, LLC and Gemini Trust Company, LLC for the unregistered offer and sale of securities to retail investors through the Gemini Earn crypto asset lending program. Through this… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today charged Randy Robertson, a former BlackRock Advisors, LLC portfolio manager, for failing to disclose a conflict of interest arising from his relationship with a film distribution company in which the fund he… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. Over the years the courts have been limiting, if not outright striking, non-compete agreements which prohibit employees from working in their chosen profession for a period of time or in a geographic area. Those agreements can be extremely harmful to the employee, and limit competition in the markets. The reality is that employers have an interest in protecting their intellectual property, but that protection can be provided by a carefully drafted confidentiality agreement and non-solicitation agreement, protecting trade secrets and other proprietary information. Banning an employee from working in his or her chosen profession is not necessary. The FTC has taken up the issue, proposing a ban on non-compete agreements. The Federal Trade Commission proposed a new rule that would ban employers from imposing noncompetes on their workers, a widespread and often exploitative practice that suppresses wages, hampers innovation, and blocks entrepreneurs from starting new businesses. By stopping this practice, the agency estimates that the new proposed rule could increase wages by nearly $300 billion per year and expand career opportunities for about 30 million Americans. The FTC is seeking public comment on the proposed rule, which is based on a preliminary finding that noncompetes constitute an unfair method of competition and therefore violate Section 5 of the Federal Trade Commission Act. The FTC press release is online. Forbes’ commentary on the proposed rule is also worth reading. — The Securities and Exchange Commission today charged Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement in a fraudulent investment scheme named CoinDeal… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced fraud charges against Cooper J. Morgenthau, the former CFO of African Gold Acquisition Corp., a SPAC or special purpose acquisition company, for orchestrating a scheme in which he stole more than $5… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission announced today that Sarah ten Siethoff has been named Deputy Director of the Division of Investment Management. In addition to serving as Deputy Director, Ms. ten Siethoff will continue serving as the Associate… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced that General Counsel Dan Berkovitz will depart the agency, effective Jan. 31, 2023. Megan Barbero, currently SEC Principal Deputy General Counsel, will be appointed General Counsel, effective upon Mr… Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
Tag Archives: securities law
SEC Issues $28 Million Award to Joint Whistleblowers
SEC Awards Approximately $18 Million to Three Whistleblowers
SEC Seeks Candidates for Small Business Capital Formation Advisory Committee
SEC Charges Genesis and Gemini for the Unregistered Offer and Sale of Crypto Asset Securities through the Gemini Earn Lending Program
SEC Charges Former BlackRock Portfolio Manager with Undisclosed Conflict of Interest
Non-Compete Agreements Going Away?
Mark Astarita represents financial advisors across the country in all aspects of their professional careers, including drafting, and litigating non-compete agreements. Contact him at 212-509-6544 or by email at mja@sallahlaw.com, or visit The Securities Lawyer.
SEC Charges Creator of CoinDeal Crypto Scheme and Seven Others in Connection with $45 Million Fraud
SEC Charges Former SPAC CFO for Orchestrating $5 Million Fraud Scheme
Sarah ten Siethoff Named Deputy Director of the Division of Investment Management
SEC Announces Departure of Dan Berkovitz; Megan Barbero Named General Counsel