The Securities and Exchange Commission today announced charges against an additional 13 individuals and 10 companies for unlawfully selling securities of Woodbridge Group of Companies LLC to retail investors. Woodbridge collapsed into bankruptcy in December 2017 and the SEC previously charged the company, its owner and others with operating a $1.2 billion Ponzi scheme and […]
Monthly Archives: December 2018
Reciprocal Deposit Rulemaking and Request for Comments on Brokered Deposit and Interest Rate Restriction Issues
FIL-87-2018 December 19, 2018 Reciprocal Deposit Rulemaking and Request for Comments on Brokered Deposit and Interest Rate Restriction Issues Printable Format: FIL-87-2018 – PDF (PDF Help) Summary: On December 18, 2018, the FDIC Board of Directors authorized publication of (1) the attached final rule on the treatment of reciprocal deposits, and (2) the attached advance […]
Volcker Rule: Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
FIL-86-2018 December 18, 2018 Volcker Rule: Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds Printable Format: FIL-86-2018 – PDF (PDF Help) Summary: The FDIC, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, […]
FTC Approves Teva Petition to Reopen and Modify Decision and Order in Case Involving Watson Pharmaceuticals Inc.’s Acquisition of Actavis Inc.
The Federal Trade Commission has approved an application by Teva to reopen and modify its decision and order in connection with the 2012 merger of Watson Pharmaceuticals, Inc. and Actavis Inc. The Commission had alleged that the merger might lessen future competition for a number of generic drugs, including the generic version of the abuse-resistant […]
FTC Obtains Court Order Barring U.S. and Canadian Scammers from Marketing, Selling Internet-related Services and Misrepresenting Their Relationship with Consumers
At the Federal Trade Commission’s request, a U.S. district court in Illinois has handed down a final judgment and order requiring nine related Canadian and U.S. defendants to pay more than $4.6 million for tricking small businesses into paying for Internet directory listings, search engine optimization services, or website design and hosting services they never […]
Peter Cho
Litigation Release No. 24375 / December 17, 2018 Securities and Exchange Commission v. Peter Cho, Case No. 1:18-cv-11811 (S.D.N.Y.) The Securities and Exchange Commission today charged a New York-based banking consultant with insider trading in advance of an airline merger based on confidential information he learned by eavesdropping on the phone conversations of his then-fiancé, […]
Craig Arsenault, Atlas Capital Management, Inc., and ACT Global Investments
Litigation Release No. 24374 / December 14, 2018 Securities and Exchange Commission v. Craig Arsenault, Atlas Capital Management, Inc., and ACT Global Investments, No. 8:18-cv-002220 (C. D. Ca. filed Dec. 13, 2018) The Securities and Exchange Commission has charged a Laguna Niguel, California investment adviser with misappropriating client funds and misleading his clients about how […]
Administrative Law Judge Upholds FTC’s Complaint Allegations that Merger of Major Titanium Dioxide Companies would have Harmed Competition
In an Initial Decision announced today, Chief Administrative Law Judge D. Michael Chappell upheld allegations in a Federal Trade Commission complaint challenging the merger of Tronox Limited and Cristal, two top suppliers of chloride process titanium dioxide (“TiO2”), a white pigment used in a wide variety of products, including paint, industrial coatings, plastic, and paper. […]
Thomas H. Laws, et al.
The Securities and Exchange Commission today announced charges against Thomas H. Laws, the former CEO of Santa Fe Gold Corporation, for the misappropriation of investor funds. The SEC also obtained an asset freeze against Laws. The SEC’s complaint, unsealed on December 6, 2018, alleges that, from at least August 2016 through February 2018, Santa Fe Gold, […]
FTC and VA Sign Updated Memorandum of Agreement
The Federal Trade Commission and the Department of Veterans Affairs signed an updated Memorandum of Agreement to continue ongoing efforts to stop fraudulent and deceptive practices targeted at U.S. service members, veterans, and dependents who use military education benefits. The agreement sets forth a framework for cooperation between the FTC and the VA when investigating […]