News Release 2019-93 | August 19, 2019 Share This Page: WASHINGTON—Comptroller of the Currency Joseph Otting, led a tour of Washington, D.C., areas that have benefitted from Community Reinvestment Act (CRA) activity and discussed how CRA regulations can be strengthened to promote more lending, investment, and services, where they are needed most. “CRA has help stabilize […]
Monthly Archives: August 2019
Scott P. Strochak
Litigation Release No. 24570 / August 19, 2019 Securities and Exchange Commission v. Scott P. Strochak, No. 9:19-cv-81164-RAR (S.D. Fla. filed August 16, 2019) The Securities and Exchange Commission today announced charges against Boca Raton, Florida resident Scott P. Strochak, a former registered broker, for making material misrepresentations regarding an investment fund scheme that targeted […]
FTC Returns an Additional $757,946 to DOTAuthority.com Customers in Second Distribution
The Federal Trade Commission is sending checks totaling $757,946 to 14,948 small businesses that paid DOTAuthority.com Inc. or related defendants service fees for commercial vehicle registrations based on allegedly deceptive advertising and practices. The average refund is just over $50 per check. According to the FTC’s October 2016 complaint, the DOTAuthority defendants sent thousands of […]
Samuel Brown, et al.
Litigation Release No. 24569 / August 16, 2019 Securities and Exchange Commission v. Samuel Brown, et al., No. 15-cv-13348 (D. Mass. filed Sept. 14, 2015) A federal district court in Boston, Massachusetts has entered a final judgment in a microcap fraud case against Idaho resident Samuel Brown, a former stock promoter for a Massachusetts-based medical […]
Jehu Hand, et al.
Litigation Release No. 24566 / August 16, 2019 Securities and Exchange Commission v. Jehu Hand, et al., No. 1:15-cv-14109 (D. Mass. filed Dec. 10, 2015) USA v. Jehu Hand, No. 1:15-cr-10386-WGY (D. Mass.) The Securities and Exchange Commission has obtained a final judgment by consent against California securities attorney Jehu Hand, who was charged, along […]
Hani Zeini
Litigation Release No. 24567 / August 16, 2019 Securities and Exchange Commission v. Hani Zeini, No. 18-cv-08103 (C.D. Cal.) The Securities and Exchange Commission announced today the entry of a final judgment against Hani Zeini, the former CEO of Sientra, Inc., a California-based medical aesthetics company, for concealing damaging news about the company’s sole-source manufacturer […]
Bill Tsai
Litigation Release No. 24568 / August 16, 2019 Securities and Exchange Commission v. Bill Tsai, No. 1:19-cv-07501 (S.D.N.Y. filed August 12, 2019) On August 12, 2019, the Securities and Exchange Commission (“SEC”) charged an analyst at a large international investment bank with insider trading based on confidential information that he learned about Siris Capital Group’s […]
HKEX Consults Market on Proposed Microstructure Enhancements in the Securities Market
Hong Kong Exchanges and Clearing Limited (HKEX) today (Friday) published a consultation paper on proposed enhancements to the Pre-opening Session (POS) and Volatility Control Mechanism (VCM) in the securities market. “The two market microstructure proposals aim to boost market liquidity and to enhance global competitiveness of the Hong Kong market,” said Wilfred Yiu, HKEX Head […]
FTC Approves Final Consent Orders with Five Companies that Allegedly Violated the Consumer Review Fairness Act
Following a public comment period, the Federal Trade Commission has approved final orders settling charges that five companies violated the Consumer Review Fairness Act (CRFA) by including provisions in form contracts that bar their customers from posting negative reviews. According to the agency’s administrative complaints, the first three of which were announced in May 2019 […]
Alan G. Heide
The Securities and Exchange Commission today charged 1 Global Capital LLC’s former chief financial officer, Alan G. Heide, with defrauding retail investors. The now bankrupt Florida-based cash advance company allegedly fraudulently raised more than $322 million from 3,600 investors between 2014 and last year. The SEC previously charged 1 Global and former CEO Carl Ruderman […]