Compliance.ai

October 2019 Enforcement Action Summary

SEC

11 Enforcement Documents

$0.00 in Fines

Penalties: N/A
Respondent: Shuang Chen, ) Lirong Gao, ) Jing Shuang Chen, ) Lirong Gao, ) Jing Guan, ) Tonghui Jia, ) Xuejie Jia, ) Vicky Liu, ) Shun Sui, ) Lujun Sun, ) Huailong Wang, ) Jiadong Wang, ) Jiafeng Wang, ) Jiali Wang, ) Xiaosong Wang, ) Linlin Wu, ) Lin Xing, ) Yong Yang, ) Jiancheng Zhao, and ) Forrest (HK) Co., Limited, ) Tonghui Jia, ) Xuejie Jia, ) Vicky Liu, ) Shun Sui, ) Lujun Sun, ) Huailong Wang, ) Jiadong Wang, ) Jiafeng Wang, ) Jiali Wang, ) Xiaosong Wang, ) LinlinN Wu, ) Lin Xing, ) Yong Yang, ) Jiancheng Zhao, and ) Forrest (HK) Co., Limited
Violation: “SEC alleges that the traders, who are primarily based in China, manipulated the prices of thousands of thinly traded securities by creating the false appearance of trading interest and activity in those stocks, thereby enabling them to reap illicit profits by artificially boosting or depressing stock prices. For example, according to the SEC’s complaint, the traders used multiple accounts to place several small sell orders to drive down a stock’s price before using a different set of accounts to buy larger amounts of the stock at the artificially low prices. After accumulating their position, the traders then flipped the script and placed several small buy orders to push up prices so they could then sell their stock at artificially high prices… Read More

Penalties: N/A
Respondent: “Shuang Chen, ) Lirong Gao, ) Jing Guan, ) Tonghui Jia, ) Xuejie Jia, ) Vicky Liu, ) Shun Sui, ) Lujun Sun, ) Hualong Wang, ) Jiadong Wang, ) Jiafeng Wang, ) Jiali Wang, ) Xiaosong Wang, ) Linling Wu, ) Lin Xing, ) Yong Yang, ) Jiancheng Zhao, and ) Forrest (HK) Co., Limited (Defendants) Weiguo Guan, ) Jingquan Liu, ) Rishan Liu, ) Luping Wang, ) Weigang Yang, and ) Jingru Zhai (Relief Defendants)”
Violation: Defendants violated, and aided and abetted each other’s violations of, Sections 17(a)(1) and 17(a)(3) of the Securities Act of 1933 (“Securities Act”) 15 U.S.C. § 77q(a)(1), (3), and Sections 9(a)(2) and 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), 15 U.S.C. §§ 78i(a)(2), 78j(b), and Rules 10b-5(a) and (c) thereunder, 17 C.F.R. §§ 240.10b-5(a), (c)… Read More

Penalties: N/A
Respondent: “Benjamin Taylor, Darina Windsor, and Joseph Abdul Noor El-Khouri”
Violation: “According to the complaint filed in federal court in Manhattan, Benjamin Taylor and Darina Windsor, obtained nonpublic information about at least fifteen potential acquisitions and tender offers through their respective positions as investment bankers in the London offices of two investment banks… Read More

Penalties: N/A
Respondent: Bryan Cohen and George Nikas
Violation: According to the SEC’s complaint filed in federal court in Manhattan, Bryan Cohen, learned nonpublic information about the potential acquisitions through his role as an investment banker based in London and New York. Cohen allegedly shared this information with at least one foreign individual who traded on the information and further tipped it to George Nikas who resides in New York, New York and Athens, Greece. According to the SEC’s complaint, Nikas used the information to net over $2.6 million in illicit profits resulting from trades in stock, American Depositary Shares, and Contracts for Difference, which were traded or hedged on U.S. exchanges… Read More

Penalties: N/A
Respondent: “Joseph Bayliss and Ronald Roach,”
Violation: Violation of Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a) _V_ Section 10(b) of the Exchange Act, 15 U.S.C. §§ 78j(b) _V_ Rule 10b-5 thereunder, 17 C.F.R. § 240.10b5. Defendants have violated the antifraud provisions of the Securities Act and the Exchange Act. First claim: Violations of Section 10(b) of the Exchange Act and Rule 10b-5(b) (against defendant Bayliss), Second claim: Violations of Section 17(a)(2) of the Securities Act (against Defendants Bayliss and Roach), Third claim: Violations of Section 10(b) of the Exchange Act and Rules 10b-5(a) and (c) Thereunder (against Defendants Bayliss and Roach),Fourth claim: Violations of Sections 17(a)(1) and (3) of the Securities Act against Defendants Bayliss and Roach)… Read More

Penalties: N/A
Respondent: Thomas D. Conrad, Jr
Violation: The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 203(f) of the Investment Advisers Act of 1940 (“Advisers Act”) against Thomas D. Conrad, Jr. (“Respondent” or “Conrad”)… Read More

Penalties: N/A
Respondent: MVP Manager LLC
Violation: N/A … Read More

Penalties: N/A
Respondent: “Black Stallion Oil & Gas, Inc. n/k/a Arize Therapeutics, Inc. and Cannabis Science, Inc.”
Violation: CBIS has failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder because it has not filed any periodic reports with the Commission since the period ended September 30, 2017… Read More

Click here to see the full list of SEC Enforcement Documents

FTC

6 Enforcement Documents

$2,500,000.00 in Fines

Penalties: N/A
Respondent: Manhattan Beach Venture, Equitable Acceptance Corporation, and Student Advocates Team
Violation: N/A … Read More

Penalties: N/A
Respondent: Retina-X Studios, LLC, a limited liability company, and James N. Johns, Jr., individually and as sole member of Retina-X Studios, LLC
Violation: “The Federal Trade Commission, having reason to believe that Retina-X Studios, LLC, a limited liability company, and James N. Johns, Jr., individually and as sole member of Retina-X Studios, LLC (collectively, “Respondents”), have violated the provisions of the Federal Trade Commission Act (“FTC Act”), the Children’s Privacy Protection Rule (“Rule” or “COPPA Rule”),”… Read More

Penalties: $2,500,000.00
Respondent: “Devumi, LLC and German Calas, Jr, individually and as an officer of Devumi, LLC”
Violation: Violation of Section 5(a) of the FTC Act, 15 U.S.C. § 45(a), in connection with the sale of fake indicators of
social media influence… Read More

Financial Enforcement Actions | Week of October 19 to October 25

SEC

11 Enforcement Documents

$0.00 in Fines

FTC

6 Enforcement Documents

$2,500,000.00 in Fines

Asif Alam

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