Radio Show Hosts Must Disclose Corporate Payments

Law360, New York (November 7, 2005, 12:00 AM EST) -- Requiring radio stations to disclose payments received for promoting certain stocks does not violate the First Amendment, according to a ruling by Denver’s U.S. Court of Appeals for the Tenth Circuit.

The ruling stems from the actions of Jerome (Jerry) M. Wenger, a self-proclaimed stock-expert and radio show host, who illegally received payment from Utah-based PanWorld Minerals International, Inc. to promote its stock on-air, according to the Securities and Exchange Commission.

The SEC sued Wenger in April 1998, followed by a criminal lawsuit the same month....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.