SEC Proposes Enhancements to Open-End Fund Liquidity Framework

The Securities and Exchange Commission today voted to propose amendments to better prepare open-end funds for stressed conditions and to mitigate dilution of shareholders’ interests. The rule and form amendments would enhance how funds manage their…

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SEC Charges Halal Capital Founder with Multimillion Dollar Fraudulent Scheme that Targeted Muslim Community

The Securities and Exchange Commission today charged Jebara Igbara, the founder of Halal Capital LLC, in connection with a more than $8 million scheme that targeted investors from the New York metropolitan area’s Muslim community. According to the SEC’s…

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Why is the Powerball so Large?

I will admit, a billion dollar prize got my attention,  and my friends and I have been buying tickets. 

But why is the big prize so big? CNN has a theory – its the FED!
It actually makes sense. Keep in mind that no one takes the annuity payout; everyone wants the cash.
But it is that annuity payout that everyone focuses on. So why is it so big? 1.9 BILLION  dollars is a lot of money…if you wait for it.
CNN explains:
$1.9 billion top prize is the amount winners would get, which involves taking 30 equal payments of about $63 million spread out over the next 29 years. Those payments come from an annuity purchased by the lottery sponsors, and the payments factor in an average rate of return.
Interest rates are up, annuity rates are up, lottery payouts are up.
Ok, we get it. But no thanks  like every other lottery winner I’ll take my prize in cash.
https://www.cnn.com/2022/11/05/investing/powerball-record-prize-fed-interest-rates-ctrp/index.html?Type=Store&bt_ee=7qsilqhTznC9Nu9UHtDP0x4A1wUpi0ir9ukA%2FPk1G0Xav6yHZUmN7hz2n%2B62ItPI&bt_ts=1667858784450

SEC Seeks to Stop the Registration of Misleading Crypto Asset Offerings

The Securities and Exchange Commission today instituted administrative proceedings against American CryptoFed DAO LLC (American CryptoFed), a Wyoming-based organization, to determine whether a stop order should be issued to suspend the registration of…

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Morgan Stanley Advisors Leaving Over New Account Restrictions

Morgan Stanley is increasing its account minimum requirements for international clients and is set to close or suspend thousands of domestic and offshore wealth management accounts as part of a due diligence review, according to Citywire.
The firm informed staff on Tuesday morning that accounts with less than $5m currently awaiting review by its due diligence team will be closed while accounts above this threshold would be subject to a slew of trading restrictions, according to a number of sources familiar with the changes.

SEC Announces Enforcement Results for FY22

The Securities and Exchange Commission today announced that it filed 760 total enforcement actions in fiscal year 2022, a 9 percent increase over the prior year. These included 462 new, or “stand alone,” enforcement actions, a 6.5 percent increase over…

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SEC Charges Pharmaceutical Co. Chief Information Officer in $8 Million Insider Trading Scheme

The Securities and Exchange Commission today announced insider trading charges against Ramkumar Rayapureddy, Chief Information Officer of pharmaceutical company Viatris Inc., which was formerly known as Mylan N.V. The SEC’s complaint, filed in the…

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SEC Adopts Compensation Recovery Listing Standards and Disclosure Rules

The Securities and Exchange Commission today adopted rules to require securities exchanges to adopt listing standards that require issuers to develop and implement a policy providing for the recovery of erroneously awarded incentive-based compensation…

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SEC Adopts Amendments to Modernize Fund Shareholder Reports and Promote Transparent Fee- and Expense-Related Information in Fund Advertisements

The Securities and Exchange Commission voted today to adopt rule and form amendments to require mutual funds and exchange-traded funds to transmit concise and visually engaging shareholder reports and to promote transparent and balanced presentations of…

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SEC Proposes New Oversight Requirements for Certain Services Outsourced by Investment Advisers

The Securities and Exchange Commission today proposed a new rule and rule amendments under the Investment Advisers Act of 1940 to prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence and…

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