SEC Shuts Down Pyramid Scheme Using Phony Companies l Securities Lawyer 101

On March 5, 2014, the Securities and Exchange Commission (the “SEC”) announced an emergency enforcement action to stop a fraudulent pyramid scheme by phony companies masquerading as a legitimate international investment firm.The SEC has obtained a

SEC Announces Trading Suspension of Aventura Equities

On March 5, 2014, the Securities and Exchange Commission (the “SEC”) announced the temporary trading suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of Aventura Equities, Inc.(“Aventura”) commencing at 9:30 a.m. EST on

DTCC Identifies Cyber-Attacks as Significant Risk

The Depository Trust & Clearing Corporation (DTCC) recently released a report identifying threats to the stability of the financial markets. DTCC considers cyber-attacks that can bypass U.S. and

E.U. industry security systmes and laws to be the most significant danger to our markets today.

Mike Leibrock, DTCC Vice President, of Systemic Risk stated that the report is intended “to initiate robust dialogue and help market participants gain a deeper understanding of how new or evolving systemic risks might impact the safety and soundness of global financial markets, and the

DTC Chills & Global Lock Solutions

The Depository Trust and Clear Corporation (“DTCC”), through its subsidiaries, provides clearing, settlement and information services for securities. DTCC’s subsidiary, the Depository Trust Company (“DTC”) was created to improve efficiencies and reduce risk in the clearance and settlement of securities transactions.

Not all securities are eligible to be settled through DTC and issuers must satisfy the criteria set by DTCC to be settled through DTC. All companies must satisfy these criteria in order to be DTC eligible, including Securities and Exchange Commission (“SEC”) reporting and non-reporting issuers who go public direct

SEC Shuts Down Pyramid Scheme Using Phony Companies l Securities Lawyer 101

On March 5, 2014, the Securities and Exchange Commission (the “SEC”) announced an emergency enforcement action to stop a fraudulent pyramid scheme by phony companies masquerading as a legitimate international investment firm.   The SEC has obtained a federal court order to freeze