Monday, August 2, 2021

SEC Charges Ernst & Young, Three Audit Partners, and Former Public Company CAO with Audit Independence Misconduct

The Securities and Exchange Commission today charged accounting firm Ernst & Young LLP (EY), one of its partners, and two of its former partners with improper professional conduct for violating auditor independence rules in connection with EY's…

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

SEC Issues Whistleblower Awards Totaling More Than $4 Million

The Securities and Exchange Commission today announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the first order, the SEC awarded more than $2 million to a…

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

Friday, July 30, 2021

SEC Charges Real Estate CEO With Defrauding Investors

The Securities and Exchange Commission today announced securities fraud charges against recidivist Michael Shustek, the CEO of several Las Vegas real estate investment trusts (REITs), and his wholly owned investment advisory firm, Vestin Mortgage LLC.…

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

Thursday, July 29, 2021

SEC Charges Founder of Nikola Corp. With Fraud

The Securities and Exchange Commission today announced charges against Trevor R. Milton, the founder, former CEO and former executive chairman of Nikola Corporation, for repeatedly disseminating false and misleading information – typically by speaking…

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

Wednesday, July 28, 2021

SEC Charges Unlicensed Broker With Defrauding Investors

The Securities and Exchange Commission today charged Joshua L. Rupp of Michigan for engaging in securities fraud and for acting as an unregistered broker-dealer.  The SEC’s complaint, filed in the U.S. District Court for the Western District of…

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

Monday, July 26, 2021

SEC Charges 27 Financial Firms for Form CRS Filing and Delivery Failures

The Securities and Exchange Commission today announced that 21 investment advisers and 6 broker-dealers have agreed to settle charges that they failed to timely file and deliver their client or customer relationship summaries – known as Form CRS – to…

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

SEC Issues Substituted Compliance Determination for France

The Securities and Exchange Commission today announced the approval of a substituted compliance determination order with respect to security-based swap dealers and major security-based swap participants (SBS Entities) subject to regulation in the French…

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

Thursday, July 22, 2021

YJ Fischer to Join SEC as Director of the Office of International Affairs

The Securities and Exchange Commission today announced the appointment of YJ Fischer as Director of the Office of International Affairs (OIA), effective Aug. 2. Ms. Fischer previously served in various roles at the U.S. State Department during the…

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

SEC Halts Alleged Ongoing Offering Fraud Involving Cycling Companies

The Securities and Exchange Commission today announced an emergency action including a temporary restraining order and asset freeze to stop an alleged fraudulent offering of securities and misappropriation of investor assets by Outdoor Capital Partners…

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

SEC Charges California Resident in Microcap Fraud Scheme Targeting Retail Investors

The Securities and Exchange Commission today announced that it has filed an emergency action charging California resident Charlie Abujudeh with running microcap fraud schemes targeting retail investors. According to the SEC’s complaint filed today in U.…

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

Wednesday, July 21, 2021

SEC Awards Nearly $3 Million to Whistleblower

The Securities and Exchange Commission today announced an award of nearly $3 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. “The whistleblower alerted the SEC to previously unknown conduct…

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

SEC Charges Retailer and Former CEO for Accounting, Reporting, and Control Failures

The Securities and Exchange Commission today announced that Fort Worth, Texas, specialty retailer Tandy Leather Factory Inc. and its former chief executive officer Shannon Greene have agreed to settle charges for accounting, reporting, and control…

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