Month: February 2021

Brokers Compliance News

Review Your WSPs – Subpoenas are Coming

The authority to open SEC investigations, and therefore to issue subpoenas, was expanded under the Obama Administration to the director of Enforcement, rather than solely to the Commission itself. The Director of Enforcement then delegated that authority to various senior officials, including regional and associate directors and specialized unit chiefs. […]

News

Gamestop Frenzy Investigations

Financial press sources are reporting that the Justice Department’s fraud section and the U.S. attorney’s office are seeking information about the activity from brokers and social-media companies that were hubs for the trading frenzy. Last week we posted that the SEC and prosecutors would open investigations into the trading in […]

News

SEC Suspends Trading in Inactive Issuer Touted on Social Media

The Securities and Exchange Commission today suspended trading in an inactive company amid questions surrounding online promotion of the company’s securities and recent trading activity. The SEC’s trading suspension order states that since late January… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]

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Melissa Hodgman Named Acting Director of Division of Enforcement

The Securities and Exchange Commission today announced Melissa R. Hodgman, currently an Associate Director in the Commission’s Division of Enforcement, has been named Acting Director of the Division of Enforcement. “Melissa’s dedication to investor… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at […]

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Analysis of Robinhood, Gamestop and Reddit Issues

 The New York State Bar Association has just featured an analysis of the issues surrounding the Gamestop saga titled “What Is the SEC Going To Do About GameStop?” authored by Joshua Bautz, Esq. from the SEC law firm of Sallah Astarita & Cox, LLC. Josh discusses the potential federal securities […]