Author Archive: Jon-Jorge Aras

Insider Trading on Capitol Hill

By Jon-Jorge Aras / August 23, 2022
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America’s distrust in the U.S. government and its lawmakers is at an all-time low. While there is not a single reason for this pervasive skepticism, the daily scandals and controversies that emerge from Congress are probably a good start. One glaring example occurred in the wake of the COVID-19 pandemic when numerous members of Congress…

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Investors Beware of Fraudulent Crypto Apps

By Jon-Jorge Aras / July 26, 2022
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The FBI has recently released a PSA warning cryptocurrency investors and financial institutions of fraudulent cryptocurrency investment apps. Cybercriminals often lure investors by claiming to offer legitimate investment platforms and ultimately convincing the victim to download fraudulent apps. Between December 2021 and May 2022, cybercriminals defrauded at least 28 investors of more than $3.7 million,…

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FINRA’s Financial Report: What Brokers Should Know

By Jon-Jorge Aras / July 6, 2022
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FINRA released its 2021 Annual Financial Report, which details the regulator’s finances and enforcement program. FINRA’s enforcement reported $103 million in fines, $47 million in restitution to harmed investors, 1 firm was expelled, 386 brokers were suspended, and 269 brokers were barred. Significantly, FINRA made 2,390 referrals to state, federal, and international regulations. Jon-Jorge Aras,…

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Cryptocurrency Regulations Are Making Progress

By Jon-Jorge Aras / June 29, 2022
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The battle for crypto regulations is making progress, especially after Gary Gensler, SEC Chairman said cryptocurrency should be co-regulated by both the SEC and the CFTC. “Together, the agencies can assure market integrity,” stated Gensler. Gensler proposed a ‘one rule book’ that protects trading regardless of whether the pairing is a security or a commodity.…

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Jon-Jorge Aras Gives Insight on SEC’s Meme Stock Warning Video

By Jon-Jorge Aras / June 6, 2022
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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…

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SEC Charges Company and its Founders for Cryptomining and Trading Scheme

By Jon-Jorge Aras / May 13, 2022
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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…

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FINRA Fines Companies for Crowdfunding Violations

By Jon-Jorge Aras / May 10, 2022
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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…

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Jon-Jorge Aras Secures $175K For U5 Defamation in FINRA Arbitration

By Jon-Jorge Aras / March 30, 2022
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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…

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President Biden Signs Order on Digital Assets

By Jon-Jorge Aras / March 10, 2022
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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…

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