Legal
SEC Promotes O’Riordan, Patel to Associate Directors of Enforcement
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The SEC promoted Dabney O’Riordan and Alka Patel, who have led significant enforcement actions involving emerging growth companies.
Markets
OTC Markets Trading Volume Declined in 2015, OTCQX Grew
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The total dollar volume of stocks traded on OTC Markets Group’s (OTCM) listing platforms declined last year, although volume on its top listing tier, the OTCQX, rose. The total value of shares listed on all three of OTC Markets’ platforms, the OTCQX, the OTCQB and Pink Open Markets, declined to $196.2 billion in 2015 from $238.4 billion the year before, the company disclosed in a report of its 2015 trading statistics. As of Dec. 31, there were 9,850 securities listed on OTC Markets’ platforms, down 0.6% from a year earlier. OTC Markets is the main platform for quotations and trading of stocks that are not listed on the NASDAQ or New York Stock Exchange.
News
SEC Approves FINRA’s Rules for Crowdfunding Portals
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Companies that want to operate crowdfunding portals allowed under Title III of the JOBS Act can now submit applications.
Legal
MusclePharm Investor, Attorney Charged With Unregistered Stock Sales
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A Florida-based money manager and his attorney are charged with illegally selling unregistered shares of nutritional supplement maker MusclePharm Corp. (MSLP) that the money manager received at steep discounts from the company.
