SEC Says Dilution Funder, John Fierro Is a Dealer Not a Trader
Dilution Funders and Dilution Financings Challenged by SEC We recently wrote about two interesting SEC enforcement actions that examine the question of whether the individuals and entities that...
View ArticleSEC Proposes Exemptive Relief for Finders
Securities Lawyer 101 At its October 7, 2020 open meeting, the Securities and Exchange Commission (the “SEC”) voted to propose exemptive relief for certain finders engaged in raising capital from...
View ArticleJay Clayton won’t be sitting on his hands during his last month as the SEC Chair
Securities Lawyer 101 On November 16, 2020, Jay Clayton, Chairman of the Securities and Exchange Commission, announced that he would be stepping down at the end of the year after 3 years and 238 days...
View ArticleUnregistered Dealers – The Scam Goes On
Securities Lawyer 101 2020 has been a historic year for Securities and Exchange Commission ("SEC") enforcement action against toxic lenders as unregistered dealers. Brenda Hamilton
View ArticleOTCQX Listing and Eligibility
Securities Lawyer 101 OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 11,606 U.S. and global securities. Securities are placed into one...
View ArticleSEC Approves NYSE Plan for Direct Listings
Securities Lawyer 101 On Tuesday, the US Securities and Exchange Commission (SEC) approved a proposed plan by the New York Stock Exchange (NYSE) to let companies raise capital through direction...
View ArticleSEC Votes to Amend Rule 144 for Buyers of Convertible Notes and Preferred Stock
Securities Lawyer 101 On December 22, 2020, the Securities and Exchange Commission (“SEC”) voted to propose amendments to Rule 144 to eliminate tacking for shares acquired upon exercise or conversion...
View ArticleThe SEC charges Giuliani Associates Lev Parnas and David Correia
Securities Lawyer 101 On February 4, 2021, the U.S. Securities and Exchange Commission announced charges against two associates of Rudy Giuliani, the former New York City mayor and lawyer for Donald...
View ArticleSEC Says Unregistered Dealer Almagarby’s Convertible Notes Are Toast
Securities Lawyer 101 On August 17, 2020, Judge Marcia G. Cooke, persuaded by the SEC’s arguments, handed down an order granting the SEC’s motion for summary judgment against Ibrahim Almagarby. The SEC...
View ArticleCan Finders Raise Money Q & A – Going Public Lawyers
Securities Lawyer 101 Posted By Brenda Hamilton, Securities Lawyer It is not unusual for a private or public company to be approached by a person (“Finder”) who offers to locate investors in exchange...
View ArticleSEC Charges Broker-Dealer for Failures Related to Filing Suspicious Activity...
Securities Lawyer 101 The Securities and Exchange Commission announced settled charges against GWFS Equities Inc. (GWFS), a Colorado-based registered broker-dealer and affiliate of Great-West Life...
View ArticleTD Ameritrade puts out list of liquidation only stocks ahead of September 28,...
Securities Lawyer 101 On September 28, 2021, new amendments to Rule 15c-211 under the Securities Exchange Act of 1934 go into effect to enhance investor protection and improve issuer transparency....
View ArticleSEC Sues Carebourn Capital, L.P. and Its Managing Partner Chip Rice for...
Securities Lawyer 101 On September 24, 2021, the Securities and Exchange Commission (“SEC”) charged Carebourn Capital, L.P. and its managing partner Chip Rice of Maple Grove, Minnesota, with acting as...
View ArticleOTC MARKETS EXPERT MARKET
Securities Lawyer 101 Quotes of securities in the Expert Market are “Unsolicited Only,” which allows broker-dealers that are members of FINRA to use the Expert Market to publish unsolicited quotes...
View ArticleOTC Markets Listing and Quotation – OTCQB Requirements
Securities Lawyer 101 OTC Markets Group (“OTC Markets”) requires companies seeking quotation of their securities on the OTCQB® Venture Stage Marketplace (“OTCQB”) have an initial and ongoing $0.01 per...
View ArticleCourt Denies Carebourn Capital’s Motion for Judgement on the Pleadings in SEC...
Securities Lawyer 101 On May 24, 2022, United States District Judge Katherine Menendez filed her Order in response to Carebourn Capital, L.P.’s Motion for Judgement on the Pleadings to dismiss the...
View ArticleJoseph Padilla Arrested and Charged in $7 Million Securities Fraud
Securities Lawyer 101 On August 25, 2022, Joseph Padilla was arrested at the San Diego International Airport in connection with his alleged involvement in a sophisticated securities fraud scheme that...
View ArticleSEC Charges Unregistered Brokers, Jeffrey K. Galvani and Stuart A. Jeffery,...
Securities Lawyer 101 On November 17, 2022, the Securities and Exchange Commission (the “SEC”) charged Jeffrey K. Galvani, Stuart A. Jeffery, and two New York-based entities they controlled with...
View ArticleMembers of New Republican House Majority Seek to Rein in Gary Gensler
Securities Lawyer 101 A week before the 2022 midterm elections, the ranking members of four important committees of the House of Representatives composed and jointly signed a letter to Gary Gensler,...
View ArticleOTC Markets Group Publishes Guidance on Dilution Risk with Respect to OTCQX...
Securities Lawyer 101 OTC Markets published guidance with respect to Section 2.13(d) of the OTCQX Rules for U.S. Companies and Section 1.4(5) of the OTCQB Standards regarding the review of applications...
View Article