On May 16, 2016, the U.S. Securities and Exchange Commission (“SEC”) sued then 44-year-old Ross I. McLellan of Hingham, Massachusetts, for securities fraud.  The case was brought in the Federal Court for the District of Massachusetts, an apt location as … The post “Fat Finger” Fraud: SEC and DOJ Sue Bank Executive for Concealed Commissions appeared first on Biz Law Blog ..read more

The  public education system in the United States has experienced a series of fits and starts since the time of the American Revolution. Although many of the Founders (think Adams, Jefferson, and Madison, for example) were staunch advocates for education, … The post Profiting From Financings for Charter Schools: SEC Sues Unregistered, Fee-Splitting Municipal Advisor appeared first on Biz Law Blog ..read more

Skechers U.S.A., Inc. (“Skechers”) is not just any old shoe company. In fact, it is the third largest United States footwear company. Founded in 1992, it soon went public, becoming a Fortune 500 company in 2023. Its founder, Robert Greenberg, … The post “Putting Your Foot In It:” SEC Sanctions Skechers for Undisclosed Transactions with Insiders and Their Families appeared first on Biz Law Blog ..read more

The Corporate Transparency Act (“CTA”) requires most entities to file with the Financial Crimes Enforcement Network (“FinCEN,” a Bureau of the U.S. Department of the Treasury) Beneficial Ownership Information (“BOI”) about the individual persons who own and/or control the entities, … The post Filing Requirements Under the Corporate Transparency Act: Stealth Beneficial Owners appeared first on Biz Law Blog ..read more

The Corporate Transparency Act (“CTA”) requires most entities to file with the Financial Crime Enforcement Network (“FinCEN”) Beneficial Ownership Information (“BOI”) about those who own and/or control the entity, unless the entity is exempt under the CTA from doing so. … The post Filing Requirements Under the Corporate Transparency Act: The Problem of “Eternal Entities” appeared first on Biz Law Blog ..read more

WHISTLEBLOWER INCENTIVES AND PROTECTIONS: The Great Recession of 2007-2009 shook America’s, and the world’s, capital markets. In response to the economic turmoil, the U.S. Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) on July 21, 2010. … The post Compound Error: Bank Mishandles Customer Accounts and Then Makes it Worse appeared first on Biz Law Blog ..read more

A Brief History of Arbitration Arbitration has been used as a process for resolving disputes between persons and countries for thousands of years. References to arbitration proceedings appear in histories of Imperial China, ancient India, Greece, and Rome. Indeed, Philip … The post Fair Representation: SEC Approves Revised FINRA Dispute Resolution Rules appeared first on Biz Law Blog ..read more

At the outset of this blog it is important to have some understanding of the economic consequences of particular transactions. At least since the seminal work of the great Scottish Professor of Moral Philosophy Adam Smith in his 1776 opus … The post Fraud Around the Block: SEC Sanctions Morgan Stanley and Former Managing Director appeared first on Biz Law Blog ..read more

Multiple sclerosis (“MS”) is a long lasting, chronic, and truly terrible disease of the central nervous system. MS will cause ever-increasing disability and, in some cases, can lead to death. It is the most common neurological disease of young adults. … The post The Price Is “Wrong”: SEC Sanctions Pharma Company for Faulty Rebates appeared first on Biz Law Blog ..read more

On Jan. 1, 2024, the Corporate Transparency Act (the “CTA”) went into effect, requiring certain businesses organized or qualified to do business in the U.S. to report beneficial ownership information (“BOI”) unless exempt from the reporting requirements.  In addition … The post The Corporate Transparency Act: What is Self-Authentication Regarding Beneficial Ownership Information? appeared first on Biz Law Blog ..read more