Investment Advisers are supposed to act in the best interests of their clients and not engage in self-dealing. Yet in one recent case the Commission charged the adviser with just that, engaging in self-dealing. SEC v. Taller, Civil Action No.
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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Investor Funds Misappropriated
In many securities fraud actions, the investor is solicited to put his or her investment capital into a product being developed or some type of intellectual property rather than exchange listed and traded shares. In those situations it may be…
This Week In Securities Litigation (Week of April 28, 2025)
The Commission filed 2 new cases last week. Each action was based on making false statements while soliciting investors and appeared to involve crypto assets. These cases raise questions regarding the Commission’s authority in the area of crypto assets. The…
What Jurisdiction Is the SEC Claiming in the Crypto Area?
Questions regarding the limits of the SEC’s jurisdiction in the crypto asset area have blossomed again since its decision to in the Kraken case early this year. There, the agency at least suggest that it was revising its approach to…
Crypto Assets – What Are The Limits of SEC Jurisdiction?
The question of jurisdiction regarding crypto assets as to the SEC has been surrounded with controversy since inception. Many, such as the Commission for a time, believed the agency had jurisdiction based on the Howey test regarding what constitutes a…
This Week In Securities Litigation (Week of April 21, 2025)
The Commission filed 3 new cases last week. Each action was based on making false statements while soliciting investors. Be careful, be safe this week. SEC Enforcement – Filed and Settled Actions Statistics: Last week the Commission filed 3 new…
Investment Company Shareholders Lose Millions
Many investment funds have provisions which impose restrictions on the type or amount of investments which can be purchased by the firm. These can aid investors considering if they are interested in acquiring shares of a particular investment fund. If,…
This Week In Securities Litigation (Week of April 14, 2025)
The Commission filed on new cases last week. It was based on making false statements to market a new claimed AI product. Be careful, be safe this week. SEC Enforcement – Filed and Settled Actions Statistics: Last week the Commission…
Will the Round Table Program Reveal the Future of Crypto Assets?
Since the Commission published SEC v. Payward, Inc., 23-cv-06003 (N.D. Cal.) at the end of March, it has appeared that the Commission would not bring additional enforcement cases involving crypto assets. The case did not, however, specifically represent that the…
The Commission and Investor Education
The enforcement cases typically highlighted in this space tend to focus on what went wrong with a transaction, not how to invest. In contrast, the Commission does have an Office of Investor Education that focuses on the role of investing…