This Week In Securities Litigation (Week of September 1, 2025)
Only one new enforcement action was filed last week. It was based on an offering fraud. Th
Be careful this week, be safe.
SEC Enforcement – Filed and Settled Actions
Statistics: Last week the Commission initiated only one new case civil enforcement actions including the seven new cases cited above. Each new article is highlighted below.
Offering fraud: SEC v. Dar, Civil Action No. 1.25-cv-12387 is an action which names as defendants: Faraz Dar and his firm, Horizon Platinum LLC. Mr. Dar resides in Istanbul, Turkey and is the owner of Horizon. Horizon, based in Massachusetts. Over a four-year period, beginning in July 2019, Defendants raised about $30 million from investors in Horizon and related entities. There were about 30 investors. Investor funds were supposed to be put into the firm for its operations. In fact, most of the money was not invested as promised which was to have a luxury car exporting business. Indeed, the firm never obtained the proper papers to export the vehicles. In May 2023, Defendant Dar stopped making payments to investors. Currently he owes investors at least $2.5 million. Nevertheless, its website claims to have sold about 1,500 vehicles. It also represented that the firm had 500 “happy customers.” The complaint alleges violations of Securities Act Section 17(a) Exchange Act Section 10(b) and Rule 10b-5. See Lit. Rel. No. 26386 (August 29, 2025).
Other Regulatory Actions
BaFin (Federal Financial Supervisory Authority)
Banking risk: Nikolas Speer, Chief Executive Director of Banking Supervision, was interviewed on the topic of Banking supervision and risk management on August 25, by the Federal Financial Supervision Authority or BaFin. The focus of the interview centered on the notion that risk management had to center not just on the institution but the entire system.
Hong Kong
Virtual trading platforms: The Securities and Futures Commission of Hong Kong published a list of virtual asset trading platforms on August 29, 2025. The regulator also cautioned investors only to deal with registered platforms.
Singapore
Liquidity risk: The Monetary Authority of Singapore published a release in consultation with the UK Energy Transition on its on-going relation with the UK Energy Transition and Sustainable Infrastructure Investments in Southeast Asia. The release is dated July 14, 2025.