vFinance and former CCO Richard Campanella appealed an SEC administrative law judge’s Initial Decision that found that vFinance willfully failed to preserve and promptly produce electronic communications regarding its trading in the securities of Lexington Resources, Inc. (“Lexington”), and that Campanella willfully aided and abetted and was a cause of these violations.
Significant New SEC Ruling: Compliance Officer Slammed Over Emails and Instant Messages
February 25, 2011
Gross Abuse: Broken PIPEs
September 2, 2010
In February 2010, BrokeAndBroker reported on the SEC case involving Axiom Capital Management, Inc. As a result of the SEC’s August 31, 2010, settlement with Gross’s supervisor David Siegel, we have reprinted and updated that article.
FINRA Arbitration Case: The $21 Million Broker Recruiting Protocol Claim
July 26, 2010
Bill Singer analyzes the arbitration between NRP Financial, Inc., National Retirement Partners, Inc., and NRP Advisors, Inc., Claimants, vs. Walker Bafs Retirement Group, Inc., Wade Alan Walker, and Jeffrey Brian Bafs, Respondents.
FinReg. Goldman Sachs. Oh, puhlease . . . gimme a break!
July 16, 2010
No, I’m not “happy” with the outcome of either the financial reform legislation or SEC v. Goldman Sachs. I’m a cynic, and, to that extent, let’s just say that my worst fears have come to full realization.
Back at Black: Honest Services…indeed!
June 24, 2010
A number of reporters have asked me about the so-called “honest service” fraud on which U.S. v. Conrad Black et al was indicted, convicted, and which now serves as the basis for his appeal before the United States Supreme Court.
FBI Warns of Phone Scam That Ties Up Line, Targets Your Accounts
June 23, 2010
Denial-of-service attacks, by themselves, are nothing new. In a recent twist, criminals have transferred this activity to telephones, using automated dialing programs and multiple accounts to overwhelm the phone lines of unsuspecting citizens.
Wall Street’s Shame: Elderly Clients As Victims of Fraud
June 16, 2010
Amidst all the hard-luck stories of failed brokerage firms and unemployed stockbrokers, a frightening problem appears to be emerging: the elderly are increasingly being targeted by unscrupulous stockbrokers.
LOST: One Securities and Exchange Commission Regulatory Priority
May 18, 2010
Now that the SEC has announced yet another public meeting of yet another advisory committee, Bill Singer thinks it is just one more laughable event in an endless stream of idiocy.
Analyzing a Troubling Wall Street Double Standard
May 4, 2010
As Bill Singer explains, veteran Wall Street journalist Dan Jamieson recently shed light on yet another troubling example of the impotency of Wall Street’s regulatory system.
Why Wall Street Reform Is Doomed to Fail – A Case in Point
April 21, 2010
According to Bill Singer, the government can, “Pass all the new laws that you want. Amend as many old laws as you wish. It simply will not matter.”
