Author Archive: Jon-Jorge Aras
The SEC’s attack on meme stocks is far from over — the agency has released a video warning investors of meme stocks, with a message intended to educate investors on responsible trading. The YouTube video has left many investors feeling that the SEC does not have their best interest in mind. Many profited off of…
Read More
The Securities and Exchange Commission (SEC) has recently announced fraud charges against MCC International Corp. and its founders in connection with the unregistered offerings and fraudulent sales of investment plans to thousands of investors. The defendants allegedly generated $8.1 million from the sale of these investment plans and $3.2 million in initiation fees. The SEC…
Read More
FINRA has recently fined two registered funding portals, Wefunder and StartEngine, a combined $1.75 million for failing to comply with securities laws and regulations designed to protect crowdfunding investors. Wefunder raised approximately $20 million more than they were permitted under FINRA’s current crowdfunding regulations. They also failed to promptly direct the transmission of funds to…
Read More
Jon-Jorge Aras, Partner and Chair of Securities Litigation at Warren Law Group, secured an award and expungement for our client, a broker, who was wrongfully terminated and defamed in a malicious U5 statement. The arbitrators found that punitive and compensatory damages were appropriate given the willful misconduct of the Respondents. If you are a broker…
Read More
Yesterday, March 9th, 2022, President Biden signed an executive order regarding the protection of digital assets. The main objectives of the order include: Protect U.S. consumers, investors, and businesses Protect U.S. and global financial stability and mitigate systemic risk Mitigate the illicit finance and national security risks posed by the illicit use of digital assets…
Read More
Recently, the Securities and Exchange Commission (SEC) charged 12 additional firms for failure to meet Form CRS (Client Relationship Summary) obligations. Six broker-dealers and six investment advisers agreed to settle charges for neglecting to deliver and file Form CRS. Jon-Jorge Aras, Partner and Chair of Securities Litigation at Warren Law Group states, “Keeping up with your…
Read More
Cryptocurrency is undoubtedly a conversation starter and last night several Super Bowl ads further hyped up the attention around these investments. The major crypto exchanges (FTX, Coinbase, and Crypto.com) showcased their prime-time ads based on the central idea that if you aren’t investing in crypto, you are missing out on making money. The Super Bowl…
Read More
The Federal Reserve has recently released a report analyzing the pros and cons of a potential U.S. Central Bank Digital Currency. The report states that a safe and regulated centralized digital currency could provide liquidity to households and businesses. Further, a centralized currency would give entrepreneurs a platform on which to create new financial products…
Read More
As of January 19, 2022 tokens of the now defunct ConstitutionDAO are worth over $300 million. Last year, the ConstitutionDAO raised over $47 million for the purpose of purchasing an original copy of the U.S. Constitution at a Sotheby’s auction. In return for their contribution, the DAO issued PEOPLE tokens, which were going to represent…
Read More