Telling the truth is key to the federal securities laws. Viewed in this context it is fundamental that advisers, their owners and others are candid with clients. Indeed, advisers have a fiduciary duty to clients, the highest duty under the
SEC Actions
The SEC Actions blog, published by Thomas O. Gorman, focuses on enforcement actions and litigation related to securities regulation. It covers topics such as investment fraud, Ponzi schemes, financial fraud, account takeovers, false statements, and settlement of SEC cases. The blog also discusses specific types of fraud involving acquisitions of brand name entities and investment schemes. It provides updates on new SEC enforcement filings and settlements, highlighting patterns and risks in securities litigation and regulatory compliance.
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This Week In Securities Litigation (Week of September 8, 2025)
Last week the Commission filed three new actions. Those cases centered on offering fraud cases. Be careful this week, be safe. SEC Enforcement – Filed and Settled Actions Statistics: Last week the Commission initiated 3 new case civil enforcement actions…
A Multimillion Dollar Ponzi Scheme Tied to ATMs
It is often difficult to believe the number of people who are convinced to invest in Ponzi schemes. Over the years those schemes have received huge and at times seemingly endless amounts of publicity. Despite mounds of publicity, however, people…
This Week In Securities Litigation (Week of September 1, 2025)
Only one new enforcement action was filed last week. It was based on an offering fraud. Th Be careful this week, be safe. SEC Enforcement – Filed and Settled Actions Statistics: Last week the Commission initiated only one new case…
New Enforcement Director Appointed
The Commission has appointed Judge Margaret Ryan as the next Director of the Division of Enforcement. Judge Ryan brings a variety of experience to the position. The Judge received her law degree from the University of Notre Law School. There…
Cherry Picking Adviser is Barred for Five
Cherry picking is a practice long targeted by the Commission. At a minimum it is the ultimate conflict of interest. Viewed for what it is, the practice is at once theft and a lie. It centers on trading by a…
This Week In Securities Litigation (Week of August 25, 2025)
The Commission filed 7 new enforcement actions last week. Those focused on insider trading, offering frauds and false revenue. Be careful this week, be safe. SEC Enforcement – Filed and Settled Actions Statistics: Last week the Commission published articles on…
Investment Adviser Fleeces Clients of Million
One of the most difficult things for investors may be to determine who to trust when considering investment advice. To be sure, there is no end of seemingly knowledgeable people prepared to offer investment advice, often based on their so-called…
This Week In Securities Litigation (Week of August 18, 2025)
The Commission filed five new enforcement actions last week. They focused largely of Ponzi schemes and similar types of frauds. No additional cases were voluntarily dismissed. Be careful, be safe. SEC Enforcement – Filed and Settled Actions Statistics: Last week…
A Multi-Year Accounting Fraud
Many investors seek to obtain background materials on firms in which they invest. In making those requests many seek to obtain audited financial statements for the firm whose shares are being offered. The audited financial statements will often aid the…