2011 – SEC ACTIONS

THIS WEEK IN SECURITIES LITIGATION (October 7, 2011)

Posted on October 06, 2011 by T. Gorman Posted in SECActions

The SEC settled two insider trading cases this week while bringing three investment fund fraud suits, two of which involved recidivists who are alleged to have diverted investor funds from their current scheme to make payments in their prior criminal …

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Tagged with: CFTC, financial fraud, FINRA, Galleon, Insider trading, Ponzi schemes, rating agencies

FINRA CANNOT SUE TO COLLECT FINES

Posted on October 05, 2011 by T. Gorman Posted in SECActions

FINRA has no authority to bring an action in federal court to collect fines it imposes on members according to the Second Circuit Court of Appeals. Likewise, a rule the SRO issued over two decades ago under which it claimed …

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Tagged with: fines, FINRA, sue in court

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Year: 2011

THIS WEEK IN SECURITIES LITIGATION (October 7, 2011)

FINRA CANNOT SUE TO COLLECT FINES