Washington

Gary Gensler Sworn in as Member of the SEC

Saturday, April 17, 2021 - 6:12pm

b"Washington, D.C.--(Newsfile Corp. - April 17, 2021) - Gary Gensler was sworn into office today as a Member of the Securities and Exchange Commission by U.S.

Key Points: 
  • b"Washington, D.C.--(Newsfile Corp. - April 17, 2021) - Gary Gensler was sworn into office today as a Member of the Securities and Exchange Commission by U.S.
  • He was nominated to Chair the SEC by President Joseph R. Biden on February 3, 2021 and confirmed by the U.S. Senate on April 14, 2021.\n\xe2\x80\x9cI feel incredibly privileged to join the SEC\xe2\x80\x99s team of remarkable public servants,\xe2\x80\x9d Gensler said.
  • \xe2\x80\x9cAs Chair, every day I will be animated by our mission: protecting investors, facilitating capital formation, and promoting fair, orderly, and efficient markets.
  • In recognition for his service, he was awarded Treasury\xe2\x80\x99s highest honor, the Alexander Hamilton Award.

SEC Reopens Comment Period for Universal Proxy

Friday, April 16, 2021 - 8:27pm

b'In October 2016, the Commission proposed amendments and new rules to, among other things:\nThe Commission received numerous comment letters on the 2016 proposal.

Key Points: 
  • b'In October 2016, the Commission proposed amendments and new rules to, among other things:\nThe Commission received numerous comment letters on the 2016 proposal.
  • In light of the regulatory and market developments since 2016, the Commission believes it is appropriate for the public to have the opportunity to submit additional comments on the 2016 proposal, and to address the additional questions raised in the reopening release issued today.\nThe Commission is seeking comment on all aspects of the 2016 proposal as well as on certain additional questions posed in the reopening release.
  • These requests for comment include, among other things, whether the proposed rule changes should be extended to registered investment companies and business development companies and whether dissidents should be required to solicit more than a majority of the voting power of shares entitled to vote, as was proposed in 2016.\nThe comment period will be open for 30 days after the release is published in the Federal Register.\n'

Joel R. Levin, Director of Chicago Regional Office, to Leave SEC

Friday, April 16, 2021 - 5:05pm

b'Washington, D.C.--(Newsfile Corp. - April 16, 2021) - The Securities and Exchange Commission today announced that Joel R. Levin, the Director of its Chicago Regional Office, will leave the agency at the end of May.\nMr.

Key Points: 
  • b'Washington, D.C.--(Newsfile Corp. - April 16, 2021) - The Securities and Exchange Commission today announced that Joel R. Levin, the Director of its Chicago Regional Office, will leave the agency at the end of May.\nMr.
  • Joel can be very proud of all that our Chicago office staff has accomplished on behalf of investors under his strong leadership,\xe2\x80\x9d said SEC Acting Chair Allison Herren Lee.\n\xe2\x80\x9cJoel was a tireless advocate for investor protection during his time as Director of the Chicago Regional Office,\xe2\x80\x9d said Peter B. Driscoll, Director of the SEC\xe2\x80\x99s Division of Examinations.
  • He will be missed.\xe2\x80\x9d\n\xe2\x80\x9cFor the last three years, Joel has worked day in and day out together with his colleagues in the Chicago Regional Office to protect investors and our markets.
  • Levin said, \xe2\x80\x9cIt has been a tremendous honor to serve as the Director of the Chicago office.

EZRaider Global Opens 48-hour Funding Round for Pre-IPO Bridge Capital

Friday, April 16, 2021 - 3:30am

b'EZRaider is a proprietary electric vehicle platform that comes in 2wd, 4wd and 6wd options when combined with the Ecart trailer.

Key Points: 
  • b'EZRaider is a proprietary electric vehicle platform that comes in 2wd, 4wd and 6wd options when combined with the Ecart trailer.
  • This presentation does not purport to be all-inclusive or to contain all of the information you may desire.
  • Actual results or trends could differ materially from those contemplated by these forward-looking statements.
  • This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates.

SEC Awards Over $50 Million to Joint Whistleblowers

Thursday, April 15, 2021 - 3:12pm

b'Washington, D.C.--(Newsfile Corp. - April 15, 2021) - The Securities and Exchange Commission today announced an award of over $50 million to joint whistleblowers whose information alerted SEC staff to violations that involved highly complex transactions and would have been difficult to detect without their information.\nThe joint whistleblowers provided exemplary assistance to the SEC staff during the investigation, including meeting with staff numerous times and providing voluminous detailed documents.\xc2\xa0The information provided by these individuals resulted in the return of tens of millions of dollars to harmed investors.\n\xe2\x80\x9cToday\xe2\x80\x99s award is the second largest in the history of the program, reflecting the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors,\xe2\x80\x9d said Jane Norberg, Chief of the SEC\xe2\x80\x99s Office of the Whistleblower.

Key Points: 
  • b'Washington, D.C.--(Newsfile Corp. - April 15, 2021) - The Securities and Exchange Commission today announced an award of over $50 million to joint whistleblowers whose information alerted SEC staff to violations that involved highly complex transactions and would have been difficult to detect without their information.\nThe joint whistleblowers provided exemplary assistance to the SEC staff during the investigation, including meeting with staff numerous times and providing voluminous detailed documents.\xc2\xa0The information provided by these individuals resulted in the return of tens of millions of dollars to harmed investors.\n\xe2\x80\x9cToday\xe2\x80\x99s award is the second largest in the history of the program, reflecting the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors,\xe2\x80\x9d said Jane Norberg, Chief of the SEC\xe2\x80\x99s Office of the Whistleblower.
  • \xe2\x80\x9cThe SEC has now awarded over a quarter of a billion dollars to whistleblowers in the first seven months of this fiscal year alone, demonstrating the tremendous value of whistleblowers to our enforcement program.\xe2\x80\x9d\nThe SEC has now awarded approximately $812 million to 151 individuals since issuing its first award in 2012.\xc2\xa0All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.
  • No money has been taken or withheld from harmed investors to pay whistleblower awards.
  • Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action.\xc2\xa0Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.\nFor more information about the whistleblower program and how to submit a tip, visit www.sec.gov/whistleblower .\n'

SEC Charges Felon and Six Others in Oil-and-Gas Offering Fraud

Wednesday, April 14, 2021 - 8:03pm

b'Washington, D.C.--(Newsfile Corp. - April 14, 2021) - The Securities and Exchange Commission today charged seven individuals, including criminal recidivist Richard Dale Sterritt,\xc2\xa0Jr., with defrauding investors through a multimillion dollar oil-and-gas offering fraud and related market manipulation scheme.\nThe SEC\'s complaint alleges that, between March 2018 and at least November 2020, Sterritt \xe2\x80\x93 who used the pseudonym "Richard Richman"\xc2\xa0\xe2\x80\x93 Michael Greer, Deanna Looney, Robert Magness, Jr., Katie Mathews, James Christopher Pittman, and Mark Ross raised more than $16 million from more than 300 investors through an unregistered private placement of the common stock of Zona Energy\xc2\xa0Inc., a Dallas-based company that claimed to be focused on the oil and gas industry.\xc2\xa0According to the complaint, the defendants made various false and misleading statements verbally and in offering materials to solicit investors, including that their funds would be used to support Zona\'s operations, namely to develop the mineral rights on a West Texas cattle ranch.\xc2\xa0The complaint further alleges that instead of using investors\'\xc2\xa0money to capitalize Zona, Sterritt and his co-defendants misappropriated millions of dollars raised in the offering, using the funds to pay for luxury goods, rental apartments, a car, and to make cash payments to friends, family members, and Sterritt\'s girlfriends.\xc2\xa0Also, according to the complaint, the offering materials falsely claimed that Zona had no debt when the company actually owed millions of dollars in demand notes to various Sterritt-controlled companies.\nThe complaint alleges that Sterritt, Magness, and Ross also conducted a manipulative trading scheme in the securities of OrgHarvest\xc2\xa0Inc., a Sterritt-controlled public issuer, in an attempt to inflate the price of the stock so that they could sell their shares to unsuspecting investors for a profit.\n"Investors should be wary of individuals using aggressive sales tactics to pitch unregistered offerings that promise high investment returns with little or no risk,"\xc2\xa0said Richard R. Best, Director of the SEC\'s New York Regional Office.

Key Points: 
  • b'Washington, D.C.--(Newsfile Corp. - April 14, 2021) - The Securities and Exchange Commission today charged seven individuals, including criminal recidivist Richard Dale Sterritt,\xc2\xa0Jr., with defrauding investors through a multimillion dollar oil-and-gas offering fraud and related market manipulation scheme.\nThe SEC\'s complaint alleges that, between March 2018 and at least November 2020, Sterritt \xe2\x80\x93 who used the pseudonym "Richard Richman"\xc2\xa0\xe2\x80\x93 Michael Greer, Deanna Looney, Robert Magness, Jr., Katie Mathews, James Christopher Pittman, and Mark Ross raised more than $16 million from more than 300 investors through an unregistered private placement of the common stock of Zona Energy\xc2\xa0Inc., a Dallas-based company that claimed to be focused on the oil and gas industry.\xc2\xa0According to the complaint, the defendants made various false and misleading statements verbally and in offering materials to solicit investors, including that their funds would be used to support Zona\'s operations, namely to develop the mineral rights on a West Texas cattle ranch.\xc2\xa0The complaint further alleges that instead of using investors\'\xc2\xa0money to capitalize Zona, Sterritt and his co-defendants misappropriated millions of dollars raised in the offering, using the funds to pay for luxury goods, rental apartments, a car, and to make cash payments to friends, family members, and Sterritt\'s girlfriends.\xc2\xa0Also, according to the complaint, the offering materials falsely claimed that Zona had no debt when the company actually owed millions of dollars in demand notes to various Sterritt-controlled companies.\nThe complaint alleges that Sterritt, Magness, and Ross also conducted a manipulative trading scheme in the securities of OrgHarvest\xc2\xa0Inc., a Sterritt-controlled public issuer, in an attempt to inflate the price of the stock so that they could sell their shares to unsuspecting investors for a profit.\n"Investors should be wary of individuals using aggressive sales tactics to pitch unregistered offerings that promise high investment returns with little or no risk,"\xc2\xa0said Richard R. Best, Director of the SEC\'s New York Regional Office.
  • "As alleged, Sterritt and his accomplices defrauded and victimized investors by inducing them to invest using false statements and then misappropriating their funds.
  • "\nThe SEC\'s complaint, filed in U.S. District Court for the Eastern District of New York, charges the defendants with violations of the registration and antifraud provisions of the federal securities laws and related rules.\xc2\xa0The SEC seeks injunctive relief, disgorgement of ill-gotten gains plus prejudgment interest, and civil penalties.\nIn a parallel action, the U.S. Attorney\'s Office for the Eastern District of New York today announced criminal charges against Sterritt and four others.\nThe SEC\'s Office of Investor Education and Advocacy cautions investors to check the background of anyone selling them an investment and to always independently research investment opportunities.\nThe SEC\'s ongoing investigation is being conducted by Christine D. Ely, David H. Tutor, Christopher Ferrante, John O. Enright, and Sheldon L. Pollock of the SEC\'s New York office, and the litigation is being led by Alexander M. Vasilescu, Ms. Ely, and Mr. Tutor.
  • The case is being supervised by Sanjay Wadhwa.\xc2\xa0 The SEC appreciates the assistance of the U.S. Attorney\'s Office for the Eastern District of New York and the Federal Bureau of Investigation.\n'

NCLA Commends New WY Land Use Law that Codifies Its Recent Supreme Court Victory

Friday, April 16, 2021 - 9:01pm

b'Washington, D.C., April 16, 2021 (GLOBE NEWSWIRE) -- A legal victory by the New Civil Liberties Alliance in the Wyoming Supreme Court has led to a legislative win for landowners.

Key Points: 
  • b'Washington, D.C., April 16, 2021 (GLOBE NEWSWIRE) -- A legal victory by the New Civil Liberties Alliance in the Wyoming Supreme Court has led to a legislative win for landowners.
  • By challenging the Laramie County Planning Commission\xe2\x80\x99s unlawful decision to restrict conduct based on nonbinding guidance, NCLA paved the way for Wyoming Governor Mark Gordon to sign HB0158 into law.
  • The Wyoming Supreme Court issued a ruling reversing the Commission\xe2\x80\x99s decision to reject ASCI\xe2\x80\x99s site plan for the development of its property west of Cheyenne in an unzoned area of Laramie County.
  • The Court rejected the Commission\xe2\x80\x99s regulatory overreach, holding that zoning is the proper mechanism by which a county can establish land use requirements and restrictions.

CGTN: Beyond the Mountains: Life in Xinjiang

Friday, April 16, 2021 - 7:37pm

(This material is distributed by MediaLinks TV, LLC on behalf of CCTV.

Key Points: 
  • (This material is distributed by MediaLinks TV, LLC on behalf of CCTV.
  • Additional information is available at the Department of Justice, Washington, D.C.)\nWASHINGTON, April 16, 2021 (GLOBE NEWSWIRE) -- CGTN releases "Beyond the Mountains: Life in Xinjiang" an 80-minute film on the contemporary state of northwest China\'s Xinjiang Uygur Autonomous Region.
  • Mountains are physical boundaries that can be crossed, but "a dose of prejudice comes from the mountains in our mind that prevent us from seeing the truth," according to Han Bin, director of the documentary "Beyond the Mountains: Life in Xinjiang.
  • "\n(Film by Han Bin and his production team; text by Wang Xiaonan)\nClick here for more about all \xe2\x80\x9cBeyond the Mountains\xe2\x80\x9d and to view it in its entirety:\n'

As Lease Addendums Rise, Marijuana Businesses Adapt by Purchasing Commercial Property

Friday, April 16, 2021 - 3:00pm

\xe2\x80\x9cAs the marijuana laws continue to evolve, Realtors\xc2\xae have witnessed increased demand for commercial properties to store, grow and sell marijuana.\xe2\x80\x9d\nAdditionally, 29% of commercial members in states that legalized recreational marijuana during the past four years reported growth in property purchasing over leasing in the last year.

Key Points: 
  • \xe2\x80\x9cAs the marijuana laws continue to evolve, Realtors\xc2\xae have witnessed increased demand for commercial properties to store, grow and sell marijuana.\xe2\x80\x9d\nAdditionally, 29% of commercial members in states that legalized recreational marijuana during the past four years reported growth in property purchasing over leasing in the last year.
  • Sixty-nine percent of commercial members in states where only medical marijuana is lawful said that no additional addendums were inserted to their leases concerning marijuana plants.
  • In these cases, business owners no longer had to adhere to marijuana rules or regulations that they may have considered burdensome.
  • Statistical data in this release, as well as other tables and surveys, are posted in the \xe2\x80\x9cResearch and Statistics\xe2\x80\x9d tab.\n'

Consulting Magazine Recognizes FTI Consulting’s Sophie Ross, Joshua Burch and Brent McGoldrick as Global Leaders in Consulting

Friday, April 16, 2021 - 12:30pm

b'WASHINGTON, April 16, 2021 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that Senior Managing Directors Sophie Ross , Joshua Burch and Brent McGoldrick have been named Global Leaders in Consulting by Consulting magazine.

Key Points: 
  • b'WASHINGTON, April 16, 2021 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that Senior Managing Directors Sophie Ross , Joshua Burch and Brent McGoldrick have been named Global Leaders in Consulting by Consulting magazine.
  • Ross has served as Global Chief Executive Officer of the Technology segment at FTI Consulting since 2016 and has more than 25 years of experience in management and operations in the U.S. and abroad.
  • Burch serves as Head of Cybersecurity for Europe, the Middle East, India and Africa (\xe2\x80\x9cEMEIA\xe2\x80\x9d) at FTI Consulting.
  • Mr. Burch has spearheaded the team\xe2\x80\x99s growth and expansion over recent years, delivering projects for several global blue-chip clients.