The Securities and Exchange Commission today announced that Daniel R. Gregus, Director of the Chicago Regional Office, will leave the agency at the end of December after more than 30 years of service. Vanessa Horton and Kathryn Pyszka will become Acting… Original Article
SEC News
SEC Charges Five Unregistered Brokers, Four Companies in Widespread Pre-IPO Fraud Scheme
The Securities and Exchange Commission today announced charges against Raymond J. Pirrello, Jr., Marcello Follano, Robert Cassino, Anthony DiTucci, Joseph Rivera, and their New Jersey or New York-based companies Prior 2 IPO Inc., Late Stage Asset… Original Article
SEC Office of the Investor Advocate Publishes Its Policy Recommendations on Mandatory Arbitration and Registered Index-Linked Annuities Research
The Office of the Investor Advocate of the Securities and Exchange Commission today published its Report on Activities for the Fiscal Year 2023 to Congress. The report highlights the work of the Office during the fiscal year. Notable highlights from the… Original Article
SEC Investor Advisory Committee to Examine Use of Complex Investment Products and Strategies by Self-Directed Investors and Discuss Practical Applications for Enhancing Financial Literacy at December 7 Meeting
The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on December 7 at 10:30 a.m. ET. The meeting will be webcast on the SEC website. The committee will host two panels: Practical Applications for… Original Article
SEC Charges Phoenix-Area Real Estate Fund Adviser Jonathan Larmore with $35 Million Fraud
The Securities and Exchange Commission today announced fraud charges against Phoenix-based real estate investment company ArciTerra Companies LLC and its CEO, Jonathan M. Larmore, for engaging in a multi-year scheme to misappropriate millions of dollars… Original Article
SEC Names Kate E. Zoladz as Regional Director of Los Angeles Office
The Securities and Exchange Commission today announced that Kate E. Zoladz has been named Regional Director of the Los Angeles Office, effective Dec. 3, 2023. Ms. Zoladz has served as Acting Co-Director since June 2023 and as the Associate Regional… Original Article
SEC Adopts Rule to Prohibit Conflicts of Interest in Certain Securitizations
The Securities and Exchange Commission today adopted Securities Act Rule 192 to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. The rule is intended to prevent the sale of asset-backed… Original Article
SEC Small Business Advisory Committee to Discuss the Accredited Investor Definition and the Role of Diversity in the Investment Process
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Wednesday, Nov. 29, which will include a discussion of the accredited investor definition and diversity and the… Original Article
SEC Charges New York Businessman with Fraud and Unregistered Sales of Securities to Investors Seeking Permanent Residency in the U.S.
The Securities and Exchange Commission today charged Nadim Ahmed, a New York-based businessman and his companies, NuRide Transportation Group, LLC and NYC Green Transportation Group, LLC, with making fraudulent misrepresentations in securities offerings… Original Article
SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency
The Securities and Exchange Commission today charged Payward Inc. and Payward Ventures Inc., together known as Kraken, with operating Kraken’s crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency. According… Original Article