Additional Archives
Securities Division Newsletters
February/March 2014 Newsletter
In this edition, we update the case involving Michael Anthony Jenkins, a Raleigh man accused of conducting a Ponzi scheme involving E-mini futures. He was recently ordered by Judge James C. Fox of the US District Court for the Eastern District of North Carolina to pay restitution and penalties totaling over $5.2 million as the result of a civil case brought against Jenkins by the US Commodity Futures Trading Commission (CFTC). Law enforcement agents of the NC Department of the Secretary of State Securities Division arrested Jenkins on August 17, 2012, on three counts of securities fraud. He has been in Wake County Jail under a secured bond awaiting trial ever since. Also in this edition, Secretary of State Elaine F. Marshall announces the Top 10 financial products and practices that threaten to trap unwary investors and small business owners during 2014 as compiled by the North American Securities Administrators Association (NASAA), of which North Carolina is a member. We share five tips compiled by FINRA that can help everyone achieve greater financial security. We also provide an in-depth analysis of the SEC's proposed rule on so-called Regulation A+ securities offerings and why the proposed rules, if implemented, would be harmful to investors and small businesses alike. We also reprint SEC Investor Bulletins on how fees and expenses affect your investment portfolio and on things you should know about variable annuities. Finally, we include our regular features: Calendar of Upcoming Events; On The Docket; Recent Enforcement Actions; and News from the Regulators.
January 2014 Newsletter
In this issue, we devote considerable attention to the issue of equity crowdfunding. Last October, the SEC proposed rules on equity crowdfunding in accordance with the federal JOBS Act. We provide background information on this topic as well as links to the SEC's proposed rules. We also provide information every investor and small business alike should consider before jumping into equity crowdfunding. We also include a FINRA investor alert on closed-end funds. We report that Daniel H. Williford of Stateville is facing federal charges for his role in a multi-million-dollar Ponzi scheme, as are Dawn Wright-Olivares and step-son Daniel Olivares, both lately of Arkansas, for their role in the ZeekRewards Ponzi and pyramid scheme. We also include an SEC investor bulletin on how to interpret the credit ratings of debt securities like bonds, notes and other debt instruments. We also include our regular features: On The Docket; Recent Enforcement Actions; and News from the Regulators.