Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Bank of America Eroded U.S. Spoof Case, Laying Path for JPMorgan
Tom Schoenberg
Bloomberg, 20 February 2020
Bank of America Corp.’s lawyers came through big for their client last year when they whittled down a U.S. case over precious metals spoofing.
Justice Department prosecutors wanted to bring criminal charges, but bank lawyers asked for none and prevailed. Prosecutors named Bank of America throughout the draft settlement document but not in the final version.
Paolo Assumpcao Monaco Barred by FINRA
An AWC was issued in which Monaco was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Monaco consented to the sanction and to the entry of findings that he refused to appear for onthe-record testimony or otherwise cooperate with FINRA’s investigation into a disclosure reported on a Uniform Termination Notice for Securities Industry Registration (Form U5) submitted by his member firm.
19 February 2020
Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Six Flags Entertainment Corporation (NYSE: SIX) from April 25, 2018 through January 9, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Six Flags Entertainment Corporation investors under the federal securities laws.
Wedbush Securities Inc. Fined by FINRA
An AWC was issued in which the firm was censured and fined $30,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to transmit Reportable Order Events (ROEs) to OATS due to system issues that arose during its transition between third-party order management systems. The findings stated that due to the same system issues, the firm transmitted ROEs containing inaccurate, incomplete, or improperly formatted data to OATS.
Morgan Stanley & Co. LLC Fined by FINRA
An AWC was issued in which the firm was censured and fined $20,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it permitted individuals who were employed by a foreign affiliate of the firm to effect transactions in a firm proprietary account without requiring the individuals to pass the Series 57 examination and become qualified and registered as Securities Traders.
Thomas M. Murphy Suspended by FINRA
An AWC was issued in which Murphy was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for four months. Without admitting or denying the findings, Murphy consented to the sanctions and to the entry of findings that he executed subscription agreements as an authorized signatory for his member firm, without its authorization, to help clients of the firm’s selfdirected brokerage business invest in third-party private real estate funds.
Martin David Batstone Barred by FINRA
An Offer of Settlement was issued in which Batstone was barred from association with any FINRA member in all capacities. Without admitting or denying the allegations, Batstone consented to the sanction and to the entry of findings that he willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a)-(c) thereunder, and violated FINRA Rule 2020 by transferring $11,100 in customer funds to his personal bank accounts and using the funds for his personal expenditures.
Angela Marie Chatfield Suspended by FINRA
An AWC was issued in which Chatfield was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Chatfield consented to the sanctions and to the entry of findings that she engaged in three outside business activities through which she provided accounting and bookkeeping services and acted as office manager and trustee without providing prior written notice to her member firm. The findings stated that Chatfield received compensation for participating in these activities.
14 February 2020
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) NASDAQLK securities between November 13, 2019 and January 31, 2020, inclusive (the “Class Period”). Luckin investors have until April 13, 2020 to file a lead plaintiff motion.
Ronald Walter Hannes Barred by FINRA
An AWC was issued in which Hannes was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Hannes consented to the sanction and to the entry of findings that he refused to produce documents and information requested by FINRA during its investigation into allegations that he converted customer funds.
Court blasts short-seller for ‘false’ Rural Funds Group allegations
Colin Kruger
Sydney Morning Herald, 12 February 2020
Rural Funds Group achieved a comprehensive legal victory over Texas-based short-seller Bonitas Research on Wednesday, as the NSW Supreme Court found that allegations against the real estate investment trust were “false in material particulars or were materially misleading”.
Bonitas sent RFG’s share price plunging in August last year after it released a report alleging RFG’s accounts included fabricated rental income and claiming the trust was ultimately worthless.
David Gray Dalton Suspended by FINRA
An AWC was issued in which Dalton was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Dalton consented to the sanctions and to the entry of findings that he exercised discretionary trading authority in customers’ accounts without having first obtained written authorization from the customers or his member firm to treat the accounts as discretionary.
David Francis Dalton Suspended by FINRA
An AWC was issued in which Dalton was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Dalton consented to the sanctions and to the entry of findings that he exercised discretionary trading authority in customers’ accounts without having first obtained written authorization from the customers or his member firm to treat the accounts as discretionary.
GLOBE NEWSWIRE, 11 February 2020
On February 10, 2020, Hindenburg Research published a report entitled “NexTech AR: Relentless Stock Promotion, Sketchy Related Party Transactions and a Vaporware Product—Price Target: $0,” alleging, among other things, that NexTech had “virtually no credible business prospects and appears to be focused almost entirely on promoting its stock and insider self-dealing.” On this news, NexTech’s stock price fell $0.36 per share, or 21.73%, to close at $1.29 per share on February 10, 2020.
Continue reading “Article: SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of NexTech AR Solutions Corporation – (NEXCF)”
Jeffrey Scott Nimmow Barred by FINRA
An AWC was issued in which Nimmow was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Nimmow consented to the sanction and to the entry of findings that he engaged in the sale of promissory notes to investors totaling at least $3,365,000 without disclosing and receiving approval from his member firm.
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
