SEC charges CA resident with operating $11.8M Ponzi scheme that targeted Tongan American community across the U.S. ow.ly/Mh1j50PNtUw

“The SEC will continue to aggressively pursue affinity frauds, which prey on the trust that members of a close-knit community have in each other.” ow.ly/p2Yt50PNtXl

Investors, here are tips on watching out for affinity frauds: ow.ly/WXJN50PNu1U

SEC charges registered representative with causing brokerage firm’s failure to timely file a SAR concerning suspicious wires ow.ly/9M5550PNUio

SEC order finds registered rep’s failure to report suspicious transactions in customer’s account caused firm to file untimely SAR ow.ly/MOVj50PNUl9

Entrepreneurs & investors -- The SEC Investor Advisory Committee is meeting today (Sept 21) to discuss Reg D offerings and “accredited investor” qualifications. Info on how to watch live here: ow.ly/VyOH50PNUbF

SEC charges PE fund adviser for acceleration of portfolio co monitoring fees, transferring a private fund asset from funds nearing end of term to new fund, & loaning money from one private fund to another advised by an affiliate. ow.ly/WZ2750POG3B

“This case highlights our continued focus on holding private fund advisers responsible when they fail to act in their clients’ best interests, including with respect to continuation funds.” ow.ly/nia150POHxw

SEC charges registered municipal advisor and one of its principals with breach of duty of care. ow.ly/GYtz50PPtWN

SEC finds that municipal advisor breached its duty of care in advising a city on cost analyses of funding options for a community project. ow.ly/sGZE50PPtXe

AssetMark will pay $18M+ to settle SEC charges related to undisclosed conflicts of interest involving cash sweep program operated by its affiliated custodian and revenue sharing payments from third-party custodians. ow.ly/uueu50PPWlH

“AssetMark failed to disclose multiple financial conflicts of interest where AssetMark and its affiliated custodian reaped significant financial benefit from decisions it made.” ow.ly/rY8f50PPWlt

Entrepreneurs & Investors – Check out the SEC’s report on the 42nd Annual Government-Business Forum on Small Business Capital Formation, including policy recommendations from participants and the Commission's responses. ow.ly/iZQM50PQkih

SEC charges co-CEOs of tech start-up Bitwise Industries for providing investors with falsified bank records and inflated financials. ow.ly/Ca1z50Q7awh

SEC alleges that Bitwise Industries co-CEOs resorted to blatant fraud to deceive investors and raise money. ow.ly/1oOM50Q7axO

The SEC issued a new staff report on the accredited investor definition. Check it out here: sec.gov/news/press-rel…

The SEC’s Office of the Advocate for Small Business Capital Formation issued its 2023 Annual Report, detailing how entrepreneurs and investors are building companies together, from startups to small public companies: sec.gov/news/press-rel…

SEC charges former Stimwave CEO and co-founder with defrauding investors by making false and misleading statements about one of the company’s key medical device products. sec.gov/news/press-rel…

“Investors are entitled to know material information about the products of the companies in which they invest. The SEC is committed to holding bad actors accountable.” sec.gov/news/press-rel…

SEC charges Stimwave co-founder with making material misrepresentations concerning a key medical device product. SEC alleges that one of the device components was fake and non-functional, and that the device was misleadingly represented as having been approved by the FDA.