Week of August 17 - 23, 2026

🗓️  August 17, 2026

• SEC Charges Boiler Room Operator and Three Entities with Defrauding Retail Investors in $74 Million Pre-IPO Investment Scam. The Securities and Exchange Commission charged Andrew Spaventa and three entities he owned with fraud related to unregistered securities offerings, raising over $74 million from more than 800 retail investors between December 2020 and June 2025. Spaventa and his entities used over 100 sales agents to pitch funds with false claims of no or minimal upfront fees, while investors actually paid prices approximately 46% higher than Spaventa’s purchase costs, resulting in $23 million collected in upfront fees. The SEC’s complaint seeks permanent injunctions, disgorgement of ill-gotten gains, prejudgment interest, and civil penalties, with conduct-based injunctions against Spaventa. 🔗 Read more

🗓️  August 18, 2026

• SEC Charges Former Executives With Fraud in Connection With $1.9 Billion Collapse of Subprime Auto Lender Tricolor. Washington D.C. - The Securities and Exchange Commission charged Daniel Chu, Jerome Kollar, and Ameryn Seibold for their roles in a multi-year scheme to defraud investors by double pledging hundreds of millions of dollars of subprime auto loans. From at least 2020 through Tricolor’s bankruptcy in September 2025, Tricolor raised more than $1.9 billion through ABS offerings, with over $945 million of principal outstanding at the time of bankruptcy. The SEC’s complaint seeks injunctive relief, disgorgement of ill-gotten gains, civil penalties, and officer and director bars against Chu and Kollar. 🔗 Read more
• SEC Proposes New Regulation Crypto Assets. Washington D.C. - The Securities and Exchange Commission announced proposed rules, “Regulation Crypto Assets,” to create a framework for investment contracts involving crypto assets, following its March 2026 interpretation. The proposal includes two exemptions from the Securities Act of 1933: a one-time exemption for offerings up to $5 million over four years and another for up to $75 million annually, with specific disclosure requirements. Additionally, it offers a conditional safe harbor from the “investment contract” definition and preempts state securities law requirements for certain transactions. 🔗 Read more
• SEC Charges Former Executives with Fraud in Connection with $1.9 Billion Collapse of Subprime Auto Lender Tricolor. The Securities and Exchange Commission charged Daniel Chu, Jerome Kollar, and Ameryn Seibold, former executives at Tricolor Holdings LLC, with defrauding investors by double pledging subprime auto loans in asset-backed securities offerings. From 2020 to Tricolor’s bankruptcy in September 2025, the company raised over $1.9 billion while falsely representing its financial health, leaving more than $945 million in outstanding principal at bankruptcy. The SEC seeks injunctive relief, disgorgement, civil penalties, and officer and director bars against the defendants, with a parallel criminal action announced by the U.S. Attorney’s Office for the Southern District of New York in December 2025. 🔗 Read more
• CFTC Seeks Public Comment on Proposed Rule Changes for Commodity Pool Operator and Commodity Trading Advisor Registration. The Commodity Futures Trading Commission has published a Notice of Proposed Rulemaking seeking public comments on amendments to part 4 of its regulations, focusing on reducing duplicative and overlapping regulation for commodity pool operators and commodity trading advisors. The proposed rule includes exemptions from CPO registration for certain investment advisers registered with the SEC and related exemptions for CTAs, as well as increasing the capital contribution threshold for the small pool exemption to reflect inflation. Chairman Michael S. Selig stated that the proposal aims to promote U.S. market competitiveness by unwinding overregulation and cutting red tape while preserving market integrity. 🔗 Read more
• ESMA consults on reporting framework for clearing activity at recognised third-country CCPs. The European Securities and Markets Authority (ESMA) has launched a consultation on a proposed annual reporting framework under EMIR for clearing activity at recognised third-country central counterparties (CCPs). The objective is to provide supervisory authorities with a structured overview of EU firms’ exposures to these CCPs, contributing to the broader monitoring framework under EMIR 3. The proposal aims to maximise the reuse of existing information and limit new requirements to what is not already available, establishing a harmonised approach to reporting. 🔗 Read more
• Holland Park Leisure Limited fined £150,000. Holland Park Leisure Limited, operator of three Adult Gaming Centres in Leicester, is fined £150,000 for not complying with a self-exclusion requirement aimed at reducing gambling harm. The company will also undergo a third-party audit to assess its policies, procedures, and staff training. Despite being informed of its obligation, the operator only joined the self-exclusion scheme after its licence was suspended in October 2025. 🔗 Read more

🗓️  August 19, 2026

• CFTC Requests Comment on the Listing of Compute Derivatives Contracts. Washington - The Commodity Futures Trading Commission issued a request for comment to enhance its understanding and oversight of derivatives markets in compute. Chairman Michael S. Selig emphasized the importance of a robust derivatives market for compute to ensure America’s success in the AI race, likening it to the historical role of American markets in establishing the gold standard for commodities. The request seeks input on various aspects, including compute cash markets, market oversight, customer protection, and perpetual compute futures. 🔗 Read more
• CFTC Resolves Actions Against Former Alameda CEO, and Alameda and FTX Co-Founder. Washington - The Commodity Futures Trading Commission announced supplemental consent orders against Caroline Ellison and Gary Wang, former executives of Alameda and FTX, requiring them to cooperate with the Commission and imposing trading and registration bans. These orders resolve the CFTC’s enforcement actions against them, acknowledging their cooperation and the $11.020 billion forfeiture order in parallel criminal actions, without seeking restitution or penalties at this time. 🔗 Read more
• Fintel Alliance uncovers coordinated mortgage fraud across major lenders. AUSTRAC’s Fintel Alliance has uncovered coordinated mortgage fraud and systemic weaknesses in Australia’s lending sector, identifying potentially hundreds of millions of dollars in suspected fraudulent loans linked mostly to Sydney properties. Operation Claw revealed fraud involving inflated incomes and complex funding arrangements, with recurring warning signs across major banks, prompting AUSTRAC to urge lenders to strengthen controls and report suspicious activity. The findings highlight the importance of public-private partnerships in identifying and disrupting financial crime, as AUSTRAC has provided intelligence to law enforcement and regulatory agencies for further action. 🔗 Read more
• FCA fines and bans former SVS Securities CEO. Mr Hadjigeorgiou, the former CEO of SVS Securities Plc, was found by the FCA to have failed in managing the firm and protecting customers’ interests by investing in high-risk products and receiving payments from issuers. He also did not challenge a decision that reduced customers’ bond investments by 10%, benefiting SVS by £359,800 at the customers’ expense, and failed to clearly inform them about the reduction. After settling his case with the FCA, Mr Hadjigeorgiou was banned and fined, with Therese Chambers emphasizing the importance of prioritizing customer interests in retirement investments. 🔗 Read more

🗓️  August 20, 2026

• Federal Reserve Board announces approval of application by National Westminster Bank Plc. The Federal Reserve Board on Thursday announced its approval of the application by National Westminster Bank Plc, of London, England, to establish a representative office in Stamford, Connecticut. 🔗 Read more
• Federal Reserve Board issues enforcement action with SouthPoint Bancshares, Inc. and announces termination of enforcement action with Deutsche Bank AG, DB USA Corporation, and Deutsche Bank AG New York Branch. The Federal Reserve Board announced a written agreement with SouthPoint Bancshares, Inc., dated August 14, 2026, and the termination of a cease and desist order against Deutsche Bank AG, DB USA Corporation, and Deutsche Bank AG New York Branch, effective August 13, 2026. 🔗 Read more
• Federal Reserve Board issues enforcement actions with former employee of Regions Bank and former employee of United Community Bank. The Federal Reserve Board announced enforcement actions against Stephanie R. Kilbert, a former employee of Regions Bank in Birmingham, Alabama, and Crystal A. Wykle, a former employee of United Community Bank in Greenville, South Carolina, both for misappropriation of customer funds. 🔗 Read more
• CFTC Seeks Public Comments on Proposed Elimination of SEF Order Book Requirement for Permitted Transactions. Washington - The Commodity Futures Trading Commission has published a Notice of Proposed Rulemaking to amend regulation § 37.3(a)(2) by removing the order book requirement for swap execution facilities (SEFs) for permitted transactions. This change aims to provide SEFs with flexibility in resource allocation and encourage innovation in execution methods, as order books for permitted transactions have been rarely used. Chairman Michael S. Selig stated that this action aligns with the agency’s commitment to minimal effective regulation and a principles-based approach. 🔗 Read more
• QuinnBet (Gibraltar) Limited to pay £609,104 for regulatory failures. QuinnBet (Gibraltar) Limited will pay £609,104 following a Commission investigation that uncovered anti-money laundering and social responsibility failures. The investigation revealed issues such as allowing individuals aged 18 to 24 to exceed deposit limits, failing to flag signs of gambling harm like high deposits and numerous bets, and insufficient controls for identifying financial crime risks, including a customer losing £9,000 in four days despite earning £2,000 monthly. The operator has since taken steps to improve its systems and controls. 🔗 Read more

🗓️  August 21, 2026

• SEC Charges Former Investment Bankers with Insider Trading. The Securities and Exchange Commission filed fraud charges against Gavin Wolfe and Jason Satsky for insider trading in South Jersey Industries, Inc. before its February 24, 2022 acquisition announcement. Wolfe allegedly bought over 2.2 million shares, making approximately $18.5 million, and tipped others, generating about $515,000 in profits. The SEC seeks permanent injunctions, civil penalties, and disgorgement against Wolfe and Satsky, with the investigation led by Cynthia A. Matthews and George N. Stepaniuk. 🔗 Read more
• SEC Files Proposed Final Judgments as to Company CEO and Former CFO in Alleged Financial and Disclosure Fraud Scheme. The Securities and Exchange Commission filed consents and proposed final judgments against John “Jon” Isaac, CEO of Live Ventures Inc., and Virland A. Johnson, former CFO, alleging fraudulent activities in fiscal year 2016. Isaac allegedly created $915,500 of fraudulent income, inflated earnings per share by 40%, and issued a misleading press release, while Johnson made false statements in a 2018 management representation letter. Isaac consented to a $175,000 penalty and Johnson to a $118,225 penalty, both without admitting the allegations. 🔗 Read more
• SEC Files Subpoena Enforcement Action Against Texas Oil Company, Five Affiliated Entities, and Six Related Individuals, in Connection with Investigation into Possible Fraudulent Securities Offering. The Securities and Exchange Commission filed a subpoena enforcement action in the Northern District of Texas to compel 1859 Operating, LLC, Centerfire Consulting, LLC, and several individuals to comply with outstanding investigative subpoenas related to a potential offering fraud involving $42.7 million in oil lease interests. Despite extended deadlines and agreements, the respondents have largely failed to produce the required documents and appear for testimony, prompting the SEC to seek court intervention. The SEC’s investigation is ongoing, and no violations have been concluded yet. 🔗 Read more
• SEC Charges Former Director of Financial Planning with Insider Trading in Advance of Employer’s Earnings Releases. The Securities and Exchange Commission charged Jesse R. Mitchell with insider trading after he used advance access to The Trade Desk, Inc.’s earnings releases to profit nearly $20,000 by purchasing shares before a positive earnings release and over $318,000 by selling options after a revenue guidance miss. Mitchell’s actions violated TTD’s trading blackout periods and a permanent ban on trading options, leading to charges under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, with the SEC seeking various penalties and an officer-and-director bar. In a parallel action, the U.S. Attorney’s Office indicted Mitchell with securities fraud on August 20, 2026. 🔗 Read more
• SEC Settles Litigation with Individual Charged in Alleged Microcap Fraud Scheme. The United States District Court for the Southern District of New York entered a final consent judgment against defendant Brian Keasberry in a fraudulent microcap scheme case. The SEC’s complaint alleged that Keasberry and two co-defendants manipulated and sold stock of a small publicly traded company to retail investors from September 2017 to at least October 2021. Keasberry consented to the judgment, which includes disgorgement of $37,500, prejudgment interest of $12,864, a civil penalty of $37,500, and bars from penny stock and officer-and-director roles. 🔗 Read more
• ICYMI: Members of the CFTC’s Innovation Advisory Committee Join Chairman Selig in Washington at Inaugural Meeting. Washington - Yesterday, the Commodity Futures Trading Commission held the first meeting of its Innovation Advisory Committee in Washington, D.C., aimed at advising on complex issues at the intersection of technology, law, policy, and finance. Michael J. Passalacqua and IAC Chair Walt Lukken emphasized the importance of bringing diverse perspectives and real-world experiences to inform policy. Chairman Selig highlighted the significance of this moment as a new frontier of finance, asserting America’s leadership in shaping the future under President Trump’s administration. 🔗 Read more‍
• Second Federal Savings and Loan Association of Philadelphia Assumes All Deposits of Tioga-Franklin Savings Bank, Philadelphia. Washington - Tioga-Franklin Savings Bank in Philadelphia was closed by the Pennsylvania Department of Banking and Securities, with the FDIC appointed as receiver. Second Federal Savings and Loan Association of Philadelphia will assume all deposits and purchase substantially all assets, with the sole branch reopening on August 24, 2026. As of June 30, 2026, the bank reported total assets of $68 million and total deposits of $67 million, and deposits will remain FDIC insured. 🔗 Read more