In this issue:

- FINRA Requests Comment on Proposed Rule Set for Limited Corporate Financing Brokers

- SEC Issues No-Action Relief to Broker Dealers from Financial Responsibility Rule 15c3-3 Amendments

- CFTC Reissues FAQ on Commodity Options

- CFTC to Host Roundtable on End-Users

- District Court Grants Preliminary Approval of Settlement in Merger Case

- US Court of Appeals for the Eleventh Circuit Upholds Fraud Penalties for Ex-GlobeTel Executives

- Excerpt from US Court of Appeals for the Eleventh Circuit Upholds Fraud Penalties for Ex-GlobeTel Executives:

The US Court of Appeals for the Eleventh Circuit recently upheld a summary judgment decision granted in favor of the US Securities and Exchange Commission against three former GlobeTel Communications Corp. (GlobeTel) employees for their participation in a scheme to report over $100 million in fictitious revenue. In addition, the court affirmed an award of $1.9 million in disgorgement and civil penalties entered against the GlobeTel executives.

Please see full advisory below for more information.

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Topics:  Appeals, CFTC, Disgorgement, False Reporting, Financial Reporting, FINRA, Fraud, Mergers, SEC

Published In: Civil Procedure Updates, General Business Updates, Finance & Banking Updates, Mergers & Acquisitions Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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