From Jim Hamilton’s World of Securities Regulation:
"A panel of the Northwestern University Pritzker School of Law Securities Regulation Institute gave an info-packed update on important litigation developments from the past year, including a clarification on insider trading, a new limit on the ability of the SEC to seek disgorgement in enforcement actions, and a lack of resolution on conflicting disclosure requirements."
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Wednesday, January 31, 2018
Tuesday, January 30, 2018
SEC Freezes ICO Assets
SEC halts one of the largest 'ICOs' ever as it wades deeper into the murky world of cryptocurrency offerings
U.S. Securities and Exchange Commission announces it has obtained a court order to halt and freeze the assets of AriseBank's initial coin offering.
How Long Does an SEC Investigation Take?
One of the first questions my clients ask when faced with a subpoena from the SEC is how long is this going to take? The answer is not simple, but start here: How Long Does an SEC Investigation Take? | SECLaw.com
Monday, January 29, 2018
The SEC's Unconstitutional Hearing Process - Will the Supremes Fix It?
We have addressed the bizarre, and unconstitutional situation in SEC administrative proceedings, where the Commission files a complaint, appoints the "prosecutor" and the judge, and creates the rules under which the trial will be held. It is a process that is unfair on its face. The situation creates real-life kangeroo courts, where the rules of evidence are tossed out the window, the SEC staff can put in any "evidence" it wants, including double and triple hearsay - witnesses testifying that someone told them that someone else said that the broker said something. Bizarre, unconstitutional, and terrifying if you are the defendant.
The situation is made worse by the fact that the SEC appointed some of its in-house judges in violation of the United States Consitution, causing further constitutional issues, and causing many respondents to challenge the process, and seek to overturn the decisions of these judges.
The United States Supreme Court has agreed to address the appointment issue in Lucia v. SEC. If the court should find in favor of Lucia, the decision could affect more than 100 pending cases to appear before administrative law judges and those which have already been decided.
The SEC is clearly concerned about the case, and has attempted to "reappoint" its judges, and to order them to accept new evidence in the cases which have been started, or which are on appeal.
The fact that the Supreme Court sees an issue with how administrative law judges have been hired means the methods might not be constitutional and their rulings might not be valid.
In the interim, hundreds of cases are being reconsidered, and may be dismissed.
See, Supreme Court review will bolster fairness of SEC's in-house judges
Mark J. Astarita, Esq. represents a financial professional in one of these administrative proceedings, which is now on appeal, and being reconsidered. He is a partner in the national securities law firm of Sallah Astarita & Cox, LLC and can be reached by email at mja@sallahlaw.com or by phone at 212-509-6544.
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The situation is made worse by the fact that the SEC appointed some of its in-house judges in violation of the United States Consitution, causing further constitutional issues, and causing many respondents to challenge the process, and seek to overturn the decisions of these judges.
The United States Supreme Court has agreed to address the appointment issue in Lucia v. SEC. If the court should find in favor of Lucia, the decision could affect more than 100 pending cases to appear before administrative law judges and those which have already been decided.
The SEC is clearly concerned about the case, and has attempted to "reappoint" its judges, and to order them to accept new evidence in the cases which have been started, or which are on appeal.
The fact that the Supreme Court sees an issue with how administrative law judges have been hired means the methods might not be constitutional and their rulings might not be valid.
In the interim, hundreds of cases are being reconsidered, and may be dismissed.
See, Supreme Court review will bolster fairness of SEC's in-house judges
Mark J. Astarita, Esq. represents a financial professional in one of these administrative proceedings, which is now on appeal, and being reconsidered. He is a partner in the national securities law firm of Sallah Astarita & Cox, LLC and can be reached by email at mja@sallahlaw.com or by phone at 212-509-6544.
Follow us on Twitter and Facebook.
Saturday, January 27, 2018
Investigation - Cali Muni Offerings
The SEC is investigating "certain market practices" by participants in municipal securities transactions, according to the California treasurer’s office. More.
Friday, January 26, 2018
Davos: Bitcoin is not a currency
Davos: Bitcoin is not a currency - Jan. 26, 2018: "Davos is clear on bitcoin: It's an interesting investment, but please don't call it a currency."
Plus, a discussion of the latest hack on a cryptocurrency exchange.
Plus, a discussion of the latest hack on a cryptocurrency exchange.
Wednesday, January 17, 2018
Is Bitcoin A 'Busted Flush' As Price Falls 20% Below $10k?
Is Bitcoin A 'Busted Flush' As Price Falls 20% Below $10k?: "Is Bitcoin A 'Busted Flush' As Price Falls 20% Below $10k?"
Tuesday, January 16, 2018
Bitcoin Losses?
We are investigating claims for investors who lost money in the cryptocurrency hype.
With 35 years of securities experience and a computer geek I know what's what.
Call me. 212.509.6544.
Mark
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