Jul 16
2019

UPDATED: How Securities Laws Apply to Opportunity Zone Investments

Update: On July 22 the North American Securities Administrators Association issued an Investor Advisory on Opportunity Zone Investments. The North American Securities Administrators Association (NASAA) and the Securities and Exchange Commission (SEC) have issued a summary that explains the...
Jul 12
2019

Daniel Christopher Walsh: Sentenced, 18 Years

Daniel Christopher Walsh, a Galveston oilman who made money by keeping investor funds in his pockets – not in the ground, drilling wells –was sentenced to 18 years in state prison on July 12 after reaching a plea agreement in his fraud trial in Wichita County. Walsh pleaded guilty to money...
Jul 12
2019

Galveston Oilman Sentenced to 18 Years for Defrauding Investors

Daniel Christopher Walsh, a Galveston oilman who made money by keeping investor funds in his pockets – not in the ground, drilling wells –was sentenced to 18 years in state prison on July 12 after reaching a plea agreement in his fraud trial in Wichita County. Walsh pleaded guilty to money...
Jul 11
2019

Gusher of Debt: Texas Oilman Concealing Bankruptcies, Fraud, Sanctions

In soliciting Texans for investments in oil wells promising annualized returns of up to 70%, Michael E. Patman of Woodland Resources LLC is touting his decades of earning profits for investors through oil and gas drilling programs. Patman’s public record, however, shows a gusher of debt and a long...
Jul 10
2019

Order No. ENF-19-CDO-1783

In the Matter of Woodland Resources LLC; Woodland Operating LLC; AKA WY Woodland Operating LLC; Michael E. Patman; Jeremy Bryan Yowell AKA JB Yowell; and Brett Kroh: Emergency Cease and Desist Order

Jul 10
2019

Clear Enough? Houston Adviser Fined for Violating Plain Language Rule

Grove Capital Management Inc. paid a $5,000 fine and has been ordered to improve its compliance procedures after failing for eight years to use a form designed to provide disclosures to clients in plain language. Texas Securities Commissioner Travis J. Iles on July 9 entered a Disciplinary Order...
Jul 9
2019

Order No. REG19-CAF-05

In the Matter of the Investment Adviser Registration of FRA Wealth Management LLC: Fine, Reprimand

Jul 9
2019

Order No. IC19-CAF-03

In the Matter of the Investment Adviser Registration of Grove Capital Management Inc.: Fine, Reprimand

Jul 8
2019

State Securities Regulators to Hold Annual Meeting Sept. 8-10 in Austin

The North American Securities Administrators Association (NASAA), marking 100 years of protecting investors, will hold its annual meeting Sept. 8-10 in Austin. Registration is now open for the meeting, which will bring together securities regulators from U.S. states, the District of Columbia...
Jul 1
2019

Order No. ENF-19-CDO-1782

In the Matter of TMTE Inc., AKA Chase Metals.com, Chase Metals LLC, and Chase Metals Inc.; Walter Vera; Michael Kendall and Athena Hunter: Rescission Offer

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