Recently, in SEC v. Spartan Securities Group, Ltd, et al., a Florida federal court held that the Securities and Exchange Commission (“SEC”) could seek disgorgement and direct funds to the Treasury because the defrauded...more
The United States Securities and Exchange Commission recently charged two individuals— Florida residents, Suyun Gu, and his friend, Yong Lee—for their involvement in allegedly fraudulent wash sales involving out-of-the-money...more
10/7/2021
/ Broker-Dealer ,
Civil Monetary Penalty ,
Disgorgement ,
Fraud ,
New Jersey ,
Permanent Injunctions ,
Securities Act ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Traders ,
Wash Sale Rules
“Naked short selling” is often claimed by struggling public companies to be the source of their woes. But there have been relatively few cases addressing naked short selling. Recently, however, on May 19, 2021, the SEC...more
5/27/2021
/ Broker-Dealer ,
Disgorgement ,
Injunctions ,
Investment Adviser ,
Penalties ,
Publicly-Traded Companies ,
Regulation SHO ,
Section 203 ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Short Selling
The dust has settled on the 2020 election, and the Biden administration has begun pressing forward with its policy objectives. Critical to achieving such objectives is the Democrats’ control of both the House of...more
2/9/2021
/ Biden Administration ,
Blockchain ,
Broken Windows ,
CFTC ,
Civil Monetary Penalty ,
Department of Justice (DOJ) ,
Digital Currency ,
Disgorgement ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Insider Trading ,
NDAA ,
Private Equity Funds ,
Securities and Exchange Commission (SEC) ,
Statute of Limitations ,
Wall Street ,
Whistleblower Awards ,
Whistleblowers
The Securities and Exchange Commission’s disgorgement powers have made legal headlines a couple of times over the last few years – most notably, with the U.S. Supreme Court’s decisions in Kokesh v. SEC, 137 S. Ct. 1635 (2017)...more
1/7/2021
/ Disgorgement ,
Forfeiture ,
Kokesh v SEC ,
Liu v Securities and Exchange Commission ,
NDAA ,
Penalties ,
SCOTUS ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Statute of Limitations
Earlier this week, a near-unanimous United States Supreme Court issued its much anticipated ruling on the SEC’s ability to obtain disgorgement of ill-gotten gains in cases involving securities fraud, FCPA violations, and...more
6/26/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
SCOTUS ,
Securities and Exchange Commission (SEC)