The SEC Enforcement Division investigates possible violations of securities laws, recommends SEC action when appropriate, either in a federal court or before an administrative law judge, and negotiates settlements. Litigation Releases, which are descriptions of SEC civil and selected criminal suits in the federal courts, are posted on the SEC web site (www.sec.gov/litigation/litreleases.shtml). Find Litigation Release No. 21532 dated May 25, 2010.

Required
a. What is the nature of the complaint underlying LR No. 21532?
b. What sections of the federal securities laws is the individual involved accused of violating?
*AICPA adapted.