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The Securities and Exchange Commission today announced that, starting on February 27, 2023, the fee rates applicable to most securities transactions will be set at $8.00 per million dollars. Consequently, each self-regulatory organization will… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today charged Avraham Eisenberg with orchestrating an attack on a crypto asset trading platform, Mango Markets, by manipulating the MNGO token, a so-called governance token that was offered and sold as a security.… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP). To settle the SEC’s charges, Nexo agreed to pay a $22.5… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. By doing so, the commission appears to have violated the Privacy Act of 1974. 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 announced that Renee Jones, Director of the Division of Corporation Finance, will depart the agency to return to her faculty position at Boston College Law School, effective Feb. 3, 2023. Erik Gerding,… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced an award of more than $5 million to a whistleblower whose information led to a successful SEC enforcement action. The whistleblower provided a tip and additional information that helped SEC… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced the appointment of Cristina Martin Firvida as Director of the Office of the Investor Advocate, effective Jan. 17, 2023. Ms. Martin Firvida was most recently the Vice President of Financial Security… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today charged Stephen J. Easterbrook, former CEO of McDonald’s Corporation, with making false and misleading statements to investors about the circumstances leading to his termination in November 2019. McDonald’s… 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. —
Tag Archives: securities lawyer
Fee Rate Advisory #2 For Fiscal Year 2023
SEC Charges Avraham Eisenberg with Manipulating Mango Markets’ “Governance Token” to Steal $116 Million of Crypto Assets
Nexo Agrees to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Product
SEC Violates Privacy Laws And Releases Names and Email Addresses of 650 Individuals being Interviewed
During the course of an SEC investigation, the SEC itself related the names and email addresses of 650 data miners working with crypto startup Green, a blockchain project that is building a decentralized power grid. The project’s user base consists of node operators or miners.
The SEC has been investigating Green for years. It reached out to users in order to learn their experience with the firm. Members cooperated, but an employee “failed to bcc all 650 users in an email,” according to screenshots seen by the Washington Examiner.
Its website clearly states that the personal data of those involved in SEC investigations are protected.
Apparently not.
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Mark J. Astarita, Esq. is a nationally recognized securities attorney representing investors and market professionals in SEC and FINRA investigations nationwide. Have a question? Email him at mja@sallahlaw.comr
SEC Charges Genesis and Gemini for the Unregistered Offer and Sale of Crypto Asset Securities through the Gemini Earn Lending Program
SEC Announces Departure of Renee Jones; Erik Gerding Named Director of Division of Corporation Finance
SEC Awards More Than $5 Million to Whistleblower
SEC Announces Appointment of Cristina Martin Firvida as Investor Advocate
SEC Charges McDonald’s Former CEO for Misrepresentations About His Termination
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.