Thursday, March 4, 2021

Dow Plunges Nearly 700 Points After Powell’s Speech Fails To Ease Investor Worries

Dow Plunges Nearly 700 Points After Powell’s Speech Fails To Ease Investor Worries The Fed chair said recently rising bond yields were "notable" and caught his attention–a worrying sign for investors concerned over sky-high valuations. #securitieslawyer #securitiesattorney https://www.forbes.com/sites/jonathanponciano/2021/03/04/dow-plunges-nearly-700-points-after-powells-speech-fails-to-ease-investor-worries/

SEC Announces Enforcement Task Force Focused on Climate and ESG Issues

The Securities and Exchange Commission today announced the creation of a Climate and ESG Task Force in the Division of Enforcement.  The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

SEC Issues Over $5 Million to Joint Whistleblowers Located Abroad

The Securities and Exchange Commission today announced an award of over $5 million to joint whistleblowers whose tip caused the opening of an investigation that resulted in a successful enforcement action. The whistleblowers provided significant…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

Wednesday, March 3, 2021

SEC Investor Advisory Committee to Meet Remotely On March 11

The Securities and Exchange Commission's Investor Advisory Committee will hold a public meeting on March 11 by remote means.  The meeting will begin at 10:00 a.m. ET, is open to the public via live webcast, and will be archived on the…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

Gamestop Investigations?

Gamestop Investigations?
Interesting question - but I have to answer with a question - Do something about what? About a group of investors sharing information about a massive short in a security, and discussing buying the stock because the shorts will ultimately have to buy back the stock? Nothing illegal there.

SEC Division of Examinations Announces 2021 Examination Priorities

The Securities and Exchange Commission’s Division of Examinations today announced its 2021 examination priorities, including a greater focus on climate-related risks. The Division will also focus on conflicts of interest for brokers (Regulation Best…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

Tuesday, March 2, 2021

Can Robinhood Stop Trading in A Particular Stock?

Can Robinhood Stop Trading in A Particular Stock?
Robinhood's customer agreement does not support a removal of GME from its trading platform.

SEC Charges Seven Individuals for $45 Million Fraudulent Scheme

The Securities and Exchange Commission today charged seven individuals and a technology company in connection with a fraudulent scheme to gain control of Airborne Wireless Network, promote its stock, and defraud investors. According to the SEC's…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

Monday, March 1, 2021

Alibaba’s Results Cast Aside Jack Ma’s Omission From List Of Entrepreneurs

Alibaba’s Results Cast Aside Jack Ma’s Omission From List Of Entrepreneurs
Alibaba’s Results Cast Aside Jack Ma’s Omission From List Of Entrepreneurs The notable news overnight was the release of the Shanghai Securities News commentary celebrating top entrepreneurs that highlighted Tencent’s founder Pony Ma but out Jack Ma. We know that Jack is in the regulator’s doghouse so this may not be surprising, though this clearly is an overhang on... #securitiesattorney #securitieslawyer https://www.forbes.com/sites/brendanahern/2021/02/02/alibabas-results-cast-aside-jack-mas-omission-from-list-of-entrepreneurs/

SEC Awards Over $500,000 to Two Whistleblowers

The Securities and Exchange Commission today announced an award of over $500,000 to two whistleblowers whose tips revealed an ongoing fraud and resulted in multiple SEC actions and a related action from another government agency.  Both…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

Sunday, February 28, 2021

U.S. EB-5 Investor Immigration Needs Renewal And Overhaul

U.S. EB-5 Investor Immigration Needs Renewal And Overhaul
U.S. EB-5 Investor Immigration Needs Renewal And Overhaul America's EB-5 investor immigration program is now before Congress and needs to be renewed before June 30th. President Biden's Citizenship Act of 2021 has proposed changes to it to deal with backlogs and other concenrs. EB-5 could also be a tool to deal with infrastructure renewal and other issues. #securitieslawyer #securitiesattorney #securitieslaw https://www.forbes.com/sites/andyjsemotiuk/2021/02/28/us-eb-5-investor-immigration--needs-renewal-and--overhaul/

Saturday, February 27, 2021

Chamath Palihapitiya's Clover Health Discloses New SEC Investigation And Responds To Short-Seller's Scathing Allegations

Chamath Palihapitiya's Clover Health Discloses New SEC Investigation And Responds To Short-Seller's Scathing Allegations The notice of investigation comes one day after a short-seller alleged Clover misled investors about its business. #securitieslawyer #securitieslaw https://www.forbes.com/sites/jonathanponciano/2021/02/05/chamath-palihapitiyas-clover-health-discloses-new-sec-investigation-and-responds-to-short-sellers-scathing-allegations/

Friday, February 26, 2021

Fee Rate Advisory #3 for Fiscal Year 2021

Pursuant to Section 31(j)(2) of the Securities Exchange Act of 1934, the Commission has determined that a mid-year adjustment to the Section 31 fee rate for fiscal year 2021 is not required. These adjustments do not directly affect the amount of funding…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

SEC Suspends Trading in Multiple Issuers Based on Social Media and Trading Activity

As part of its continuing effort to respond to potential attempts to exploit investors during the recent market volatility, the Securities and Exchange Commission today suspended trading in the securities of 15 companies because of questionable trading…

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Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.

HK Property Investor Goodwin Gaw Spies World Of Bargains On The Horizon

HK Property Investor Goodwin Gaw Spies World Of Bargains On The Horizon After a tough year at his property-focused private equity firm, Gaw Capital, Goodwin Gaw is keeping his powder dry for deals in the year ahead. #securitieslaw #seclaw #securitiesattorney https://www.forbes.com/sites/jenniferwells/2021/02/24/hk-property-investor-goodwin-gaw-spies-world-of-bargains-on-the-horizon/