A growing divide among federal circuit courts is reshaping the legal terrain surrounding convertible debt, dealer registration under the...

The SEC dismissal is nothing more than a policy decision - not merits based.“WHEREAS, in the exercise of its discretion and as a policy matter, the Commission believes the dismissal of this case with prejudice is appropriate.” This is clearly a a policy decision by the SEC that now triggers concerns by public company issuers and their shareholders, that the agency may be abdicating its responsibility to protect shareholders from the risks posed by toxic lending dilution funding practices.

Second Circuit request for en banc review to test SEC 15(a) Dealer Registration requirements for dealers and voiding such transactions for failure to register, utilizing 29(b) Rescission of a security transaction or agreement.