SEC Enforcement Actions – August, 2011

Florida Securities and Investment Fraud Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq.

The Securities and Exchange Commission periodically announces enforcement actions that have recently been filed by it. Periodically, we review these actions and provide selective information concerning what we feel relate to important issues or matters that have a wide alleged impact on investors.

August, 2011:

Recently, The Securities and Exchange Commission (“Commission”) deemed it appropriate and in the public interest that public administrative and cease-and-desist proceedings be instituted pursuant to Section 8A of the Securities Act of 1933 (“Securities Act”), Sections 15(b) and 21C of the Securities Exchange Act of 1934 (“Exchange Act”), Section 203(f) of the Investment Advisers Act of 1940 (“Advisers Act”), and Section 9(b) of the Investment Company Act of 1940 (“Investment Company Act”) against David G. Brouwer (“Respondent” or “Brouwer”). Read More.

August, 2011:

Securities and Exchange Commission v. James Davis Risher and Daniel Joseph Sebastian. The Securities and Exchange Commission recently charged two Florida men with operating a Ponzi scheme disguised as a purported private equity fund that fraudulently raised approximately $22 million from more than 100 investors, many of whom were Florida teachers or retirees. Read More.

SEC Files Settled Insider Trading Charges Against Former Diamondback Portfolio Manager Anthony Scolaro. Read More.