Newsfile SEC Press Digest

Recent News

  • Silvestre Fontes Named Director of Boston Regional Office

    Washington, D.C.--(Newsfile Corp. - January 25, 2023) - The Securities and Exchange Commission today announced that Silvestre A. Fontes has been named Regional Director of the Boston office, starting next week.John Dugan and Kevin Kelcourse, who have served as Acting Co-Regional Directors, will remain as Associate Regional Directors of the office’s Enforcement and Examinations programs, respectively.Mr. Fontes worked in the Boston Regional Office’s enforcement program for 13 years, ascending to...

    2023-01-25 1:14 PM EST
  • SEC Proposes Rule to Prohibit Conflicts of Interest in Certain Securitizations

    Washington, D.C.--(Newsfile Corp. - January 25, 2023) - The Securities and Exchange Commission today proposed a rule to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. The rule is intended to prevent the sale of asset-backed securities (ABS) that are tainted by material conflicts of interest. Specifically, the rule would prohibit securitization participants from engaging in certain transactions that...

    2023-01-25 11:26 AM EST
  • SEC Issues $28 Million Award to Joint Whistleblowers

    Washington, D.C.--(Newsfile Corp. - January 24, 2023) - The Securities and Exchange Commission today announced an award of more than $28 million to joint whistleblowers who provided critical information and assistance in an SEC enforcement action.The joint whistleblowers’ detailed information prompted the opening of the SEC staff’s investigation and significantly contributed to the success of the action. They provided substantial analysis and ongoing assistance, which resulted in the return of...

    2023-01-24 11:09 AM EST
  • Fee Rate Advisory #2 for Fiscal Year 2023

    Washington, D.C.--(Newsfile Corp. - January 23, 2023) - The Securities and Exchange Commission today announced that, starting on February 27, 2023, the fee rates applicable to most securities transactions will be set at $8.00 per million dollars. Consequently, each self-regulatory organization will continue to pay the Commission a rate of $22.90 per million dollars for covered sales occurring on charge dates through February 26, 2023, and a rate of $8.00 per...

    2023-01-23 12:02 PM EST
  • Bloomberg to Pay $5 Million for Misleading Disclosures About Its Valuation Methodologies for Fixed Income Securities

    Washington, D.C.--(Newsfile Corp. - January 23, 2023) - The Securities and Exchange Commission today announced settled charges against Bloomberg Finance L.P. (Bloomberg) for misleading disclosures relating to its paid subscription service, BVAL, which provides daily price valuations for fixed-income securities to financial services entities.The SEC’s order finds that from at least 2016 through October 2022, Bloomberg failed to disclose to its BVAL customers that the valuations for certain fixed-income securities...

    2023-01-23 10:23 AM EST
  • SEC Charges Avraham Eisenberg with Manipulating Mango Markets' "Governance Token" to Steal $116 Million of Crypto Assets

    Washington, D.C.--(Newsfile Corp. - January 20, 2023) - The Securities and Exchange Commission today charged Avraham Eisenberg with orchestrating an attack on a crypto asset trading platform, Mango Markets, by manipulating the MNGO token, a so-called governance token that was offered and sold as a security. Investigations into other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing.Eisenberg, a 27 year-old U.S. citizen who was arrested and detained at MDC Guaynabo, Puerto Rico,...

    2023-01-20 2:57 PM EST
  • Nexo Agrees to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Product

    Washington, D.C.--(Newsfile Corp. - January 19, 2023) - The Securities and Exchange Commission today charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP). To settle the SEC’s charges, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. In parallel actions announced today, Nexo agreed to pay an additional $22.5 million in fines to...

    2023-01-19 5:10 PM EST
  • SEC Awards Approximately $18 Million to Three Whistleblowers

    Washington, D.C.--(Newsfile Corp. - January 19, 2023) - The Securities and Exchange Commission today announced three awards totaling approximately $18 million to three whistleblowers whose information and assistance led to a successful enforcement action.The first whistleblower provided the SEC with detailed and significant information that led to the opening of an investigation into a fraudulent scheme. This whistleblower’s information and assistance saved considerable staff time and resources, and had a...

    2023-01-19 11:13 AM EST