Newsfile SEC Press Digest

Recent News

  • SEC Staff Releases Report on Equity and Options Market Structure Conditions in Early 2021

    Washington, D.C.--(Newsfile Corp. - October 18, 2021) - The Securities and Exchange Commission today published a Staff Report on Equity and Options Market Structure Conditions in Early 2021, which focuses on the January 2021 trading activity of GameStop Corp (GME), the most famous of the "meme stocks." Because the meme stock episode raised several questions about market structure, the staff report also provides an overview of the equity and options market structure for individual investors."January's events gave us an opportunity to...

    2021-10-18 4:37 PM EDT
  • SEC Awards $40 Million to Two Whistleblowers

    Washington, D.C.--(Newsfile Corp. - October 15, 2021) - The Securities and Exchange Commission today announced awards of approximately $40 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action.The first whistleblower, whose information caused the opening of the investigation and exposed difficult-to-detect violations, will receive an award of approximately $32 million. The first whistleblower also provided substantial assistance to the staff, including identifying witnesses and helping the staff to understand complex fact patterns....

    2021-10-15 11:43 AM EDT
  • SEC Reopens Comment Period for Listing Standards for Recovery of Erroneously Awarded Compensation

    Washington, D.C.--(Newsfile Corp. - October 14, 2021) - The Securities and Exchange Commission today reopened the comment period on proposed rules for listing standards for the recovery of erroneously awarded compensation. “I support today’s action to reopen comment on the Dodd-Frank Act rule regarding clawbacks of incentive-based executive compensation,” said SEC Chair Gary Gensler. “I believe we have an opportunity to strengthen the transparency and quality of corporate financial statements, as well as the accountability of corporate executives to their...

    2021-10-14 1:13 PM EDT
  • SEC Modernizes Filing Fee Disclosure and Payment Methods

    Washington, D.C.--(Newsfile Corp. - October 13, 2021) - The Securities and Exchange Commission today adopted amendments to modernize filing fee disclosure and payment methods. Operating companies and investment companies (funds) pay filing fees when engaging in certain transactions, including registered securities offerings, tender offers, and mergers and acquisitions.The amendments revise most fee-bearing forms, schedules, and related rules to require companies and funds to include all required information for filing fee calculation in a structured format. The amendments also add...

    2021-10-13 2:27 PM EDT
  • SEC Charges Hemp Company and Co-Founders With Fraud

    Washington, D.C.--(Newsfile Corp. - October 5, 2021) - The Securities and Exchange Commission today charged CanaFarma Hemp Products Corp. and its co-founders with fraudulently raising approximately $15 million from investors, and misappropriating a significant portion of the investor funds for personal use and other unrelated purposes.The SEC’s complaint alleges that in 2019 and 2020, CanaFarma, a Canadian startup hemp company with offices in Vancouver and New York City, and its co-founders Vitaly Fargesen and Igor Palatnik raised millions of...

    2021-10-05 3:11 PM EDT
  • SEC Highlights Investor Protection for World Investor Week 2021

    Washington, D.C.--(Newsfile Corp. - October 4, 2021) - The Securities and Exchange Commission today announced that it will highlight investor education and protection resources during World Investor Week 2021 (WIW). This marks the fifth year of WIW, a global effort promoted by the International Organization of Securities Commissions (IOSCO) that brings together regulators on six continents to raise awareness about the importance of investor education and protection. The SEC is once again serving as the national coordinator in the...

    2021-10-04 5:08 PM EDT
  • SEC Charges Webcast Host for Role in Market Manipulation Scheme

    Washington, D.C.--(Newsfile Corp. - October 1, 2021) - The Securities and Exchange Commission yesterday announced charges against Mark Melnick, the host of a stock trading webcast, for spreading more than 100 false rumors about public companies in order to generate illicit profits. The SEC previously charged Barton Ross for his role in this scheme.According to the complaint, filed in the United States District Court for the Northern District of Georgia on September 30, 2021, Melnick received advance notice of...

    2021-10-01 5:03 PM EDT
  • SEC Charges Rogue Trader Who Bankrupted His Firm

    Washington, D.C.--(Newsfile Corp. - September 30, 2021) - The Securities and Exchange Commission today charged Keith A. Wakefield, a former managing director and head of fixed income trading at IFS Securities, Inc., an Atlanta-based broker-dealer, with causing millions of dollars of losses through unauthorized trading in fixed income securities, and with fraudulently obtaining approximately $820,000 in fictitious commission income.The SEC’s complaint, filed in federal district court in Chicago, alleges that from June through August 2019, Wakefield engaged in unauthorized...

    2021-09-30 2:36 PM EDT