Broker-Dealer Says SEC Overstepping In Sham Cos. Suit
Law360 (August 24, 2020, 10:30 PM EDT) -- The U.S. Securities and Exchange Commission is pushing a "radical expansion" of its rules in accusing a broker-dealer and a transfer agent of assisting a scheme to create sham companies and sell free-trading stock to the public, the two businesses told a Florida federal court.
The SEC is seeking to enforce a higher standard for market-makers than its own rules require, broker-dealer Spartan Securities Group Ltd. and transfer agent Island Capital Management LLC argued Friday. Spartan, Island Capital, two directors and both companies' chief compliance officer said they had met their legal obligations and should be given a win in the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!