Over the past 35 years, the overall number of enforcement actions taken annually by the SEC has consistently risen. In 1985, the SEC brought about 300 such actions. In recent years, that number has hovered above 800. In 2019, the SEC took 862 total enforcement...
regulatory issues (sec, finra)
PPP loan fraud: Investigators to expand scrutiny
Millions of businesses have been able to survive during the pandemic with the help of the CARES Act’s Paycheck Protection Program (PPP), which has provided 5.2 million loans totaling about $525 billion. However, since the CARES Act was passed in March, the Justice...
FINRA sanctions target unauthorized solicitation of cryptocurrency investments
A former broker was recently sanctioned by the Financial Industry Regulatory Authority (FINRA) for allegedly engaging in outside cryptocurrency business activities. According to FINRA, the ex-Wells Fargo broker attempted to start a cryptocurrency company without first...
Recent trends in FINRA disciplinary actions
As you may know, the Financial Industry Regulatory Authority (FINRA) is a self-regulating association that conducts investigations into its members with regard to securities law compliance. FINRA oversees disciplinary actions for its broker-dealer members who violate...
Keep Your Eye on The Big Picture
Bombshell criminal cases like those involving Bernard Madoff garner worldwide media headlines and rock the financial sector, but they are extremely rare in the big picture. For hedge fund managers and banking executives, being on the wrong side of a civil case is a...
