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.
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