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Monthly Archives: October 2012
Facebook’s Pre-IPO Interactions With The SEC
Yesterday, I had the opportunity to appear on Bloomberg West to discuss Facebook’s pre-IPO communication with the SEC. Here is the video.
CFTC Orders Farr Financial, Inc. to Pay $280,000 to Settle Supervision Failures and Other Violations
In the Matter of Farr Financial, Inc.., CFTC Docket No. 13-01. On October 10, 2012, the CFTC announced it issued an order settling charges that Farr Financial Inc. of San Jose, California, failed to properly invest customer segregated funds and … Continue reading
SEC Charges Brokers Marek Leszczynski, Benjamin Chouchane, Gregory Reyftmann, and Henry Condron For Overcharging Customers $18.7 Million
SEC v. Marek Leszczynski, et al. (S.D.N.Y.). On October 5, 2012, the SEC announced fraud charges against brokers Marek Leszczynski, Benjamin Chouchane, Gregory Reyftmann, and Henry Condron for taking $18.7 million from customers by overcharging them. The Defendants were at … Continue reading
Commodity Futures Trading Commission Releases Annual Enforcement Results
On October 5, 2012, the CFTC announced the results of its enforcement program for fiscal year 2012 (“FY12”), and they are revealing. The most significant point is the numbers – the CFTC filed a record-breaking 102 enforcement cases, bringing the … Continue reading
SEC Charges James and Jeffrey Quay With Defrauding Elderly Investors
SEC v. James S. Quay and Jeffrey A. Quay, Case No. 1:12-cv-03429-RWS (N.D. Ga.). On October 4, 2012, the SEC announced fraud charges against James and Jeffrey Quay. James Quay (“Quay”) and his brother stole $560,000 from two women who … Continue reading
SEC Continues To Publicize Its Vigorous Pursuit of Hedge Funds
For the past few years, the SEC has widely publicized its enforcement efforts against hedge funds. The agency has filed more than 100 hedge fund cases since 2010. On October 3, 2012, it issued an investor bulletin describing some of … Continue reading
Posted in Securities
Tagged Fraud, Hedge Fund, Investment Advisers Act, SEC, Securities Act, Securities Exchange Act
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SEC Charges Dark Pool Operator eBX LLC With Failing To Protect Confidential Information
In the Matter of eBX, LLC, Admin. Proc. No. 3-15058. On October 3, 2012, the SEC announced it issued a settled order instituting administrative proceedings and imposing remedial sanctions against eBX, LLC. eBX is a registered broker-dealer. It operates an alternative … Continue reading
SEC Obtains Emergency Asset Freeze Against Repeat Offender Joseph Hilton in Oil Scam
SEC v. Joseph Hilton, et al.. On October 3, 2012, the SEC announced it obtained an emergency order freezing the assets of Joseph Hilton who has been charged with fraud. In 2010, the SEC obtained a final judgment against Joseph … Continue reading
Posted in Securities
Tagged Fraud, SEC, Securities Act, Securities Exchange Act, Unregistered Securities Transactions
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CFTC Obtains $1.4 Million in Penalties in Ponzi Scheme
CFTC v. Midway Trading Company, LLC, et al., Case No. 11-23554-CIV-ROSENBAUN (S.D. Fl.). On October 1, 2012, the CFTC announced that it obtained an order requiring Oscar Hernandez, Midway Trading Company, LLC and Conquest Investment Group, Inc. to pay a $1.4 million … Continue reading
Former IndyMac CEO Michael Perry settles with the SEC for $80,000
SEC v. Michael W. Perry et al., Case No. CV 11-1309 R (JCx). On October 1, 2012, the SEC announced it settled its ongoing litigation against Michael Perry, the former CEO and Chairman of the Board of IndyMac Bancorp, Inc. IndyMac, … Continue reading
Securities Enforcement Blog 