The U.S. Supreme Court recently decided to take up the case of SEC vs. Marc Gabelli and Bruce Alpert. At issue, in this case, is whether the SEC’s five-year statute of limitations to bring civil enforcement actions (cases where the … Read More
In an SEC investigation, Kenneth F. Wrangell was contacted by SEC Investigators regarding his suspicious trading activities regarding Mercer Insurance Group, to which Wrangell offered his full and expedient cooperation. His cooperation resulted in the SEC obtaining details of his … Read More
On Friday, August 17, 2012, it was reported that, in response to heavy criticism, the SEC would backtrack on its earlier plans to issue an interim rule lifting the ban on general solicitation and advertising of public offerings required by … Read More
While examining a mutual fund that Peak Wealth Opportunities LLC advised, SEC examiners requested David W. Dube and Peak Wealth produce certain records to the SEC. Mr. Dube owns Peak Capital and its subsidiary businesses. Mr. Dube serves as the … Read More
U.S. Senators Chuck Grassley (R-IA), ranking member of the Senate Judiciary Committee, and Jack Reed (D-RI), chairman of the Senate Banking Subcommittee on Securities, Insurance and Investment, will introduce legislation intended to increase the SEC fines for securities violations. Currently, … Read More
Rule 203(b) of Regulation SHO sets borrowing and delivery requirements for Short Sales. For example Regulation, SHO requires a market participant who seeks to effect a short sale to borrow, arrange to borrow, or have reasonable grounds to believe that … Read More
The House Appropriations Committee is proposing a spending package that would cut the Commodity Futures Trading Commission’s (“CFTC”) annual budget by about $25 million to $180.4 million which is about 41 percent lower than the administration originally requested. [1] However, … Read More
The SEC has approved two proposals to limit the volatility of (1) individual stocks and (2) the market itself. The first proposal, named the National Market System Plan Approval Order (“NMSP”), can be found here and is designed to limit … Read More
On February 8, 2012, the Commodity Futures Trading Commission (“CFTC” or “Commission”) put forth final regulations repealing the popular exemption from registration for private fund managers under CFTC Regulation 4.13(a)(4) (exemption for commodity pool operator) and 4.13(a)(8) (exemption for commodity … Read More