The Securities and Exchange Commission (“SEC”) has updated its list of soliciting entities that have been the subject of investor complaints, known as the Public Alert: Unregistered Soliciting Entities (PAUSE) list. The PAUSE list contains firms that SEC staff found were providing inaccurate information about their affiliation, location, or registration, and enables investors to inform
Whether college athletes should be able to be paid by third parties (such as a shoe company like Nike) for the use of their name, image, and likeness (“NIL”) has become a popular topic in the college athletics world. Much of the discussion surrounding the issue arose after the NCAA announced it was creating a
Many Missourians planning on applying for medical marijuana dispensary, extraction, and/or cultivation licenses looked forward to June 4, 2019 with anticipation. On that date, the Missouri Department of Health and Senior Services was required by Article XIV of the Missouri Constitution to “make available to the public license application forms and application instructions for medical
On June 4, 2019, the Securities and Exchange Commission (“SEC”) filed a subpoena enforcement action in the U.S. District Court for the Northern District of Illinois against Covalent Collective, a vertically integrated cannabis enterprise, for failure to produce documents in an investigation. The action relates to an SEC investigation into potential violations of registration provisions
Private Industry Notification (PIN) 20190530-001 was being distributed to make private sector partners aware of business email compromise/business email spoofing (BEC/BES) scams where cyber criminals are targeting the West Texas Oil and Natural Gas industry through email phishing, malware attacks, and unauthorized access for financial gain. The alert was released as TLP: Green and the
Recently, Kennyhertz Perry’s Attorney Benjamin Tompkins presented at the Kansas City Metropolitan Bar Association’s 46th Bench-Bar & Boardroom Conference 2019 in Branson, Missouri. Tompkins was a co-presenter for a Continued Legal Education opportunity entitled “Legal Issues Unique to Medical Marijuana, CBD Oil and Cultivation of Cannabis.” Tompkins focused his presentation on tax considerations for and
Under the current schedule presented by Missouri lawmakers, the first legal use of medical marijuana by Missouri residents could occur as soon as the end of 2019. While constitutional, criminal, and medical issues appear at the forefront of this legal revolution, employers in Missouri and neighboring states may be primarily concerned with how this legal
On May 2, 2019, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) published A Framework for OFAC Compliance Commitments, which identifies five essential components of an effective Risk-Based Sanctions Compliance Program. While companies are not legally required to implement a program, a failure to follow these principles increases the risks of sanctions violations
The Securities and Exchange Commission (“SEC”) charged Stephen Brandon Anderson and his company, River Source Wealth Management, an RIA located in North Carolina alleging the firm systematically overcharging his clients. The SEC alleges that the Anderson charged approximately 40% more than the agreed-upon maximum customer advisory fees. The SEC said that Anderson also misled his
Yesterday, the SEC sought emergency action in federal court charging Robert Morgan, a New York residential and commercial real estate developer, and two of his entities, Morgan Mezzanine Fund Manager LLC and Morgan Acquisitions, LLC, with fraud for siphoning and misusing investor funds. The SEC seeks an asset freeze and other relief. The SEC alleges
Allied Wallet, described as a provider of e-commerce merchant services and online payment processing services, settled claims by the Federal Trade Commission (FTC) that it assisted numerous scams by knowingly processing fraudulent transactions to consumers’ accounts. According to the complaint, Allied Wallet assisted companies that were the subject to law enforcement action by the FTC
The NCAA announced yesterday that it has formed a working group to examine issues related to college athletes receiving benefits for the use of their name, image and likeness (“NIL”). The formation of the working group was prompted by recent federal and state legislative proposals that would allow college athletes to receive payment for their
