State Regulation
Get the latest news and insights on the Securities and Exchange Commission's' financial regulations, enforcement actions and related activities.
Bogus Broker Pleads Guilty to Securities Fraud, Faces Up to 25 Years in Prison
By Jeff BermanThe scammer posed as a broker and obtained over $2.7 million from at least 19 investors, prosecutors say.
November 05, 2021
Ex-CEO Sentenced to 13 Years in Prison for Defrauding InvestorsDavid P. Godwin, who formerly led the telecom firm ContinuityX, also much pay restitution of $9.3 million.
November 04, 2021
Ex-Wells Fargo Broker Barred by FINRA Over Ponzi SchemeThe former broker and Wells Fargo were among those named in a complaint last year by disgruntled investor.
November 03, 2021
Ex-Advisor Gets 3 Life Sentences for Bilking Senior Churchgoers in TexasWilliam Neil "Doc" Gallagher, a radio personality, ran a $32 million scam, prosecutors say.
October 27, 2021
Stock Trader Charged With Securities Fraud in Twitter Pump-and-Dump SchemeThe Ohio stock promoter used the social network for his over-the-counter penny stock scam, DOJ and SEC allege in separate actions.
October 18, 2021
2 Crypto-Lending Firms Ordered Shut by N.Y. Attorney GeneralRegulators in several states are taking aim at crypto lending firms, which have rapidly gathered tens of billions of dollars.
October 06, 2021
8 Tips for Advisors to Avoid Digital Asset Legal, Compliance HeadachesAdvisors must make sure they follow their firms' policies and procedures, as well as legal compliance requirements, attorney Max Schatzow says.
October 06, 2021
NASAA Wants to Rein in Advisors Who Fail to Pay Arb AwardsPublic comments are sought about model rules that could prompt enforcement actions by NASAA members against violators.