Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
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.
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.
FIMCO Securities Group, Inc. Fined by FINRA
An AWC was issued in which the firm was censured and fined $5,000. A lower fine was imposed after considering, among other things, the firm’s revenues, financial resources and ability to pay. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to conduct supervisory testing and verification or prepare an annual report documenting the results.
H.C. Wainwright & Co. Once Again Ranked #1 by PlacementTracker
BusinessWire, 6 February 2020
H.C. Wainwright & Co. announced its #1 Ranking by transaction volume during 2019 maintaining the top position for 19 consecutive quarters in PlacementTracker’s Market League Tables. As noted by PlacementTracker, H.C. Wainwright effectuated more than 3 times the number of transactions than any other firm in 2019.
In addition to being the #1 Investment Bank for Confidentially Marketed Public Offerings, Registered Direct and Private Placement transactions, H.C. Wainwright executed over 200 transactions in 2019 totaling over $7.6 Billion in transaction value. According to PlacementTracker, the H.C. Wainwright Team has been the #1 ranked Underwriter/Placement Agent by deal volume cumulatively since 1998.
Comment: This company is alleged to be one of the top front-runners helping naked short sellers destroy promising companies.
Learn more: HCWainwright @ NSS
BNP Paribas Securities Corp. Fined by FINRA
An AWC was issued in which the firm was censured and fined $90,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it submitted inaccurate, incomplete, or improperly formatted information to the Order Audit Trail FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB). Reported for April 2020 2 Disciplinary and Other FINRA Actions April 2020 System (OATS™).
John Martin Harman Suspended by FINRA
An AWC was issued in which Harman was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for 30 business days. Without admitting or denying the findings, Harman consented to the sanctions and to the entry of findings that he directed customers to sign blank or incomplete distribution request forms for their IRAs which he thereafter completed and submitted for processing. The findings stated that the distributions were sent to the customers, as intended.
Virtu Americas LLC Fined by FINRA
A Letter of Acceptance, Waiver and Consent (AWC)
was issued in which the firm was censured and fined $250,000. Without
admitting or denying the findings, the firm consented to the sanctions and
to the entry of findings that it implemented policies and procedures that
failed to reasonably avoid displaying, or engaging in a pattern or practice of
displaying, locking or crossing quotations in over-the-counter (OTC) equity
securities.
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
