Effective Communication with the SEC Staff during Wells Meetings Steven Piekin, Co-Director of the Division of Enforcement gave a speech in New York City on May 9, 2018 about techniques for a productive and effective communication with the SEC staff during Wells meetings. What is the Wells process? Wikipedia summarizes the Wells Notice as “a…

SEC Charges Hedge Fund Advisor for Inflating Fund Performance SEC Charges Hedge Fund Adviser with Deceiving Investors by Inflating Fund Performance Summary The SEC, in cooperation with the the U.S Attorney’s Office and the FBI investigated the allegedly secret deals and brought charges against a hedge fund advisor for inflating fund performance. A summary of…

The Hellhound of Wall Street: How Ferdinand Pecora’s Investigation of the Great Crash Forever Changed American Finance by Michael Perino My rating: 5 of 5 stars One of the best Wall Street books ever written, this highly readable book reads like fiction, except it isn’t. This masterpiece documents the deeply ingrained period racism, the greed…

Since its enactment, issuers—from the smallest start-ups to the largest investments and hedge funds—have used Rule 506 under the Securities Act of 1933 in the sale of securities. The Rule, which is the most widely used exemption from the registration requirements of the Act, generally allows issuers to sell an unlimited amount of securities to…

The Graham ruling and the Step Backward for the SEC Due to a the ruling in SEC v. Graham, issued on May 12, 2014, the SEC’s enforcement program, which has struggled to gain footing, may have taken a step backward. The Court dismissed all of the claims brought by the SEC based on the five…

CFTC Charges Irvine, California Resident Ghassan Tawachi and His Company, Intelligent Trades, LLC, with Defrauding Customers in Connection with a Commodity Futures Trading System Tawachi also Charged with Violating an Earlier CFTC Anti-Fraud Order and Acting as a Commodity Trading Advisor without Being Registered as Such with the CFTC Washington, DC – The U.S. Commodity…

New Areas of Focus Include Liquidity Controls, Public Pension Advisers, Product Promotion, Exchange-Traded Funds and Variable Annuities FOR IMMEDIATE RELEASE 2016-4 Washington D.C., Jan. 11, 2016 —The Securities and Exchange Commission today announced its Office of Compliance Inspections and Examinations’ (OCIE) 2016 priorities.  New areas of focus include liquidity controls, public pension advisers, product promotion, and…