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Our experts frequently write blog posts about the findings of the research we are conducting.

Displaying 291-300 out of 377 results for "Muni Markup Week".

SEC Litigation Releases: Week in Review - September 28th, 2012

(Sep 2012)

Court Enters Final Judgments by Consent Against SEC Defendants Shay Keren and Lawrence Steven Cohen
September 27, 2012, (Litigation Release No. 22498)
The SEC announced that final judgments have been entered against Shay Keren and Lawrence Steven Cohen which permanently enjoins them from violating sections of the Securities Act and Exchange Act as well as bars them from "participating in an offering of penny stock for a period of five years." The SEC filed a complaint in September 2008 against...

SEC Litigation Releases: Week in Review - September 21st, 2012

(Sep 2012)

SEC Charges Atlanta-Based Adviser with Operating Ponzi-Like Scheme Involving Private Investment Funds
September 19, 2012, (Litigation Release No. 22485)
Earlier this week, the SEC filed a civil complaint charging Angelo A. Alleca with "defrauding investors in a purported "fund-of-funds" and then trying to hide trading losses by creating new private funds to make money to pay back the original fund investors in Ponzi-like fashion." Rather than investing investor funds in Summit Investment Fund,...

SEC Litigation Releases: Weekly Review

(Sep 2012)

SEC Charges a Solar Panel Manufacturer and Three of its Former Executives with Defrauding Investors
September 6, 2012, (Litigation Release No. 22475)
The SEC charged Worldwide Energy and Manufacturing USA Inc. (WEMU), a San Francisco based solar panel manufacturer, and WEMU executives Jimmy Wang, Mindy Wang, and Jeffrey Watson with "concealing the transfer of nearly half of the ownership stake in its Chinese subsidiary to three individuals in China who manage the subsidiary." According to the ...

SEC Litigation Releases: Week in Review - September 7th, 2012

(Sep 2012)

SEC Files Settled Insider Trading Action Against Pharmaceutical Company Executive and His Father-In-Law
September 6, 2012, (Litigation Release No. 22474)
On September 6, 2012, the SEC filed a civil injunctive action against APP Pharmaceuticals, Inc.'s former Director of Contract Marketing, Arthur H. Reed, as well as Reed's father-in-law, Allan F. Derusha. According to the complaint (opens to PDF),the pair engaged in "insider trading and/or tipping in advance of APP's July 7, 2008 public...

Is FINRA Arbitration Constitutional?

(Sep 2012)

Since 1987, when the Supreme Court upheld the mandatory arbitration provision found in brokerage customer agreements (Shearson/American Express v. McMahon - 482 U.S. 220 (1987)), most disputes between broker-dealers and their customers or employees have been adjudicated through the FINRA Dispute Resolution process. Their proceedings are not open to the public, no public record is kept, and most decisions are not explained. FINRA arbitrators come from all walks of life, although many are...

S&P Downgrades Illinois

(Sep 2012)

Due to unfunded pension liabilities, S&P downgraded the state of Illinois last week. In conjunction with this ratings action, S&P also downgraded several Illinois issuers.

As Reuters reports, this ratings action -- which downgrades Illinois' credit rating from A+ to A -- now makes Illinois the second lowest rated state (after California which is currently rated A- by Standard & Poor's). According to S&P's credit analyst Robin Prunty

[t]he downgrade reflects the state's weak pension funding...

SEC Litigation Releases: Week in Review - August 31st, 2012

(Aug 2012)

SEC Charges Brokers for Defrauding Brazilian Public Pension Funds in Markup Scheme
August 29, 2012, (Litigation Release No. 22462)
According to the complaint (opens to PDF), Fabrizio Neves conducted a markup scheme while working at LatAm Investments LLC. The complaint alleges that from 2006 to 2009 Neves, with the assistance of Jose Luna, overcharged customers around $36 million "by using hidden markup fees on structured note transactions." Neves allegedly made millions in inflated sales...

The JOBS Act and Private Placements [UPDATE]

(Aug 2012)

Both the New York Times and the Wall Street Journal are reporting that the SEC has proposed removing the restriction on general solicitation of hedge funds and other private placement investments as required by the JOBS Act of 2012. Last week we blogged about the implications of this action, and at that time there was concern that the SEC would impose further restrictions that would dampen the effects of the law. It now appears that the SEC will not impose any additional regulations.

The...

SEC Litigation Releases: Week in Review - August 24th, 2012

(Aug 2012)

SEC Charges New York-Based Firm and Owner in Penny Stock Scheme
August 23, 2012,(Litigation Release No. 22457)
Edward Bronson and his company, E-Lionheart Associates LLC (which also conducts business under the name Fairhills Capital Inc.), have been charged by the SEC with conducting a penny stock scheme in which they allegedly reaped over $10 million in illegal profits. The alleged scheme involved buying shares at deep discounts from over 100 penny stock companies and then selling them...

SEC Litigation Releases: Week in Review - August 17th, 2012

(Aug 2012)

SEC Charges Oracle Corporation with FCPA Violations Related to Secret Side Funds in India
August 16, 2012, (Litigation Release No. 22450)
According to the complaint (opens to PDF), the Indian subsidiary of Oracle Corporation, Oracle India Private Limited, "structured transactions with India's government...in a way that enabled Oracle India's distributors to hold approximately $2.2 million of the proceeds in unauthorized side funds." Oracle India's alleged misconduct occurred from 2005 to 2007,...

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