CALL TOLL FREE
800-760-0912

SEC-FINRA Defense Blog

More SEC Adviser Exams Projected for 2017 and 2018 An article published in InvestmentNews on November 4, 2017, reported that the Chairman of the Securities and Exchange Commission (SEC), Jay Clayton, intends to increase the number of financial adviser examinations conducted by the SEC each year, thus enabling the securities law enforcement agency’s examination division to maintain a more proactive approach toward enforcement and regulation of the investment advisory industry.  A Financial Adviser Defense Lawyer...
Read More
How to Respond to a SEC Wells Notice The Securities and Exchange Commission’s (SEC) Division of Enforcement is responsible for enforcing the federal securities laws. The Enforcement Division performs this function through its investigations and, if evidence is developed in the investigation that would support filing charges, through the SEC’s filing of cases either in federal district court or in its own administrative forum. Typically, however, after the SEC complete its investigation, but before it...
Read More
The Securities and Exchange Commission has filed a civil enforcement action against a Philadelphia, Pennsylvania  based hard money lender, Paul Singer, and his company, Singer Financial Corp., alleging an illegal and unregistered offering of securities to the investing public. In its complaint, the SEC asserts that Singer and his company raised around $4.5 million from approximately 70 investors in an unregistered offering of unsecured promissory notes.  The SEC further contends that Singer and his company conducted the unregistered securities offering without a registration statement in place, and without meeting an...
Read More
The Securities and Exchange Commission secured entry of a Final Judgment against Robert H. Bray for his alleged insider trading in a bank stock.  The final judgment permanently enjoins Bray from future violations of Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder, and orders him to pay almost $300,000 in disgorgement, which was deemed paid-in-full by the forfeiture order entered against him in a parallel criminal case. In August 2014, the SEC...
Read More
Lying to the Securities and Exchange Commission is a dangerous game with potentially high-stakes consequences.  An obvious proposition, but all too often ignored by those who don’t understand that it is infinitely better to stay silent and invoke the Fifth Amendment rather than to speak and inadvertently create new, potentially more serious legal liabilities for themselves. Case in point: the federal criminal authorities recently indicted Richard Cody, a former investment advisor and registered representative, for allegedly lying in a SEC deposition.  Cody was also...
Read More
The Securities and Exchange Commission recently brought fraud charges against an attorney, Marc A. Celello, based on his alleged participation in a $30 million Ponzi scheme. The SEC’s complaint claims that Celello, who was a partner in Credit National Capital LLC and also acted as general counsel for its underlying companies, facilitated the orchestration of a Ponzi scheme involving the offer and sale of promissory notes yielding a 9% return. According to the SEC Complaint,...
Read More
The Securities and Exchange Commission recently filed insider trading charges against a doctor who is alleged to have purchased shares in a supply chain services company on the basis of a tip of material, non-public information he received from a company executive​ concerning an impending acquisition.  The SEC further alleged that he then sold the shares at a profit once the acquisition was publicly announced.  The good doctor made a “whopping” $8,330.00 in profits from his alleged illegal insider trades. In its Complaint, the SEC...
Read More
1 2 3 7