Monthly Archives: February 2017

401(k) Investors Can Act Now To Demand Fiduciary Protection

If you are a retirement plan investor who believes that permitting financial advisers to secretly profit at your expense somehow benefits you—that is, you oppose proposed heightened fiduciary standards for retirement advisers—then this article is not for you. Go on … Continue reading

Posted in Financial Watchdog | Leave a comment

Shaohua (Michael) Yin, et al.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23747 / February 10, 2017 Securities and Exchange Commission v. Shaohua (Michael) Yin, et al., Civil Action No. 17-CV-972 (S.D.N.Y., filed February 10, 2017) SEC Charges Chinese Citizens Who Reaped Massive Profits … Continue reading

Posted in SEC Litigation News | Leave a comment

Alan Barry Staples

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23746 / February 10, 2017 Securities and Exchange Commission v. Alan Barry Staples, No. 1:17-cv-01000 (S.D.N.Y. filed Feb. 10, 2017) Australian-based Trader Settles Insider Trading Charges The Securities and Exchange Commission today … Continue reading

Posted in SEC Litigation News | Leave a comment

Oxford City Football Club, Inc., et al.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23745 / February 8, 2017 Securities and Exchange Commission v. Oxford City Football Club, Inc., et al., Civil Action No. 15-CV-62594-KMW (S.D. Fla.) FINAL JUDGMENTS ENTERED AGAINST THOMAS GUERRIERO AND OXFORD CITY … Continue reading

Posted in SEC Litigation News | Leave a comment

Zev Saltsman, et al.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23744 / February 7, 2017 SEC v. Zev Saltsman, et al., No. 07-CV- 4370 (NGG) (E.D.N.Y.) SEC Obtains Final Judgment Against Edward G. Newman On January 25, 2017, the Honorable Nicholas G. … Continue reading

Posted in SEC Litigation News | Leave a comment

Michael Affa, et al.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23743 / February 7, 2017 Securities and Exchange Commission v. Michael Affa, et al., No. 14-cv-12959 (D. Mass. filed July 11, 2014) United States v. Michael Affa, et al., No. 1:14-cr-10221 (D. … Continue reading

Posted in SEC Litigation News | Leave a comment

Red Flags Pepper Rhode Island Pension’s Losing Investment In Governor’s Venture Fund

There are more red flags surrounding the Rhode Island state pension’s losing investment in a venture fund managed by, and sold to, the pension by current Governor Gina Raimondo than at the Beijing Olympics opening ceremony. Ten years into the … Continue reading

Posted in Financial Watchdog | Leave a comment

SEC Scrutiny Of Public Pension Advisers A Top Priority

Mary Jo White, outgoing chairman of the SEC, listens during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, June 14, 2016. Photographer: Andrew Harrer/Bloomberg The Securities and Exchange Commission recently announced its Office … Continue reading

Posted in Financial Watchdog | Leave a comment

Failing Multi-Employer Pension ‘Rehabilitation Plans’ Don’t Address Mismanagement of Investments

Multi-employer pensions are retirement plans negotiated by a union, e.g., the Teamsters, with a group of employers typically in the same industry, such as trucking or construction. Collective bargaining contracts say how much the employers must contribute to the plans … Continue reading

Posted in Financial Watchdog | Leave a comment

Trifecta Of Imprudence: Forensic Investigation Of Critical And Declining New York Teamsters Pension

The New York State Teamsters Pension Fund is a multi-employer pension plan which is failing. With a funded percentage of 45.8 percent and liabilities exceeding its assets by approximately $1.7 billion, the Fund is projected to become insolvent and require … Continue reading

Posted in Financial Watchdog | Leave a comment