Arcis Resources Corporation (“ARCS”) is a Nevada corporation that had had an address in Denver, Colorado. ARCS stopped filing periodic reports with the U.S. Securities and Exchange Commission (“SEC”) by January 2015, and on Jan. 13, 2015, it filed a form with the SEC to terminate its registration with the Commission.» Read More
On Wednesday, August 18, 2021, the U.S. Securities and Exchange Commission (“SEC”) charged three Netflix software engineers and two “close associates” with insider trading in Netflix shares that netted them over $3 million in illegal profits. They were caught by the SEC Market Abuse Unit, whose Analysis and Detection Center uncovered the operation using data analytic tools that identified the group’s “improbably successful” trading.» Read More
For The Wall Street Journal for Saturday/Sunday, August 14-15, 2021, a pair of reporters wrote: “Oversight is Weak of Private-Firm Auditing.” The article contrasts the degree of oversight of auditors of private companies with that of auditors of public companies. Since the passage of the Sarbanes-Oxley legislation in 2002, public company auditors are subject to review and discipline by the Public Company Accounting Oversight Board (“PCAOB”), a governmental body in turn supervised by the U.S.» Read More
Douglas Michael Hodge was born in New York City in 1957, but subsequently moved to the Boston suburbs and then to Connecticut. He was apparently well-off and bright, earning admission to Dartmouth, from which he graduated in 1979 with a degree in Economics.» Read More
On Wednesday, July 28, 2021, the Working Group on Treasury Market Liquidity of the Group of 30 issued a Report entitled “U.S. Treasury Markets: Steps Toward Increased Resilience” (the “Report”), which warned of material market fragility, especially with respect to the level of confidence in the market for U.S.» Read More
On Friday, July 9, 2021, the U.S. Securities and Exchange Commission (“SEC”) charged Apostolos Trovias, a Greek national, with selling (from 2016 until early in 2021) what he termed “insider trading tips,” including prerelease earnings reports, on the Dark Web. Trovias, according to the SEC Complaint, operated using the “pseudonymous avatar ‘The Bull’.”» Read More
In the late 1960s when I was in law school, rock bands began to name themselves after public utilities and transportation entities, such as “Pacific Gas & Electric” with its gospel-tinged sound and even more famously the instrumental powerhouse (forgive the pun) the “Chicago Transit Authority.”» Read More
On Tuesday, May 25, 2021, the U. S. Securities and Exchange Commission (“SEC”) issued a notice (the “Notice”) that the Fixed Income Clearing Corporation (“FICC”) had filed proposed rule changes intended to enhance the ability to clear certain trades, particularly those involving repurchase agreements (“Repos”) on FICC.» Read More
