Newsfile SEC Press Digest

Recent News

  • SEC Charges Gas Exploration and Production Company and Former CEO with Failing to Disclose Executive Perks

    Washington, D.C.--(Newsfile Corp. - February 24, 2021) - The Securities and Exchange Commission today announced settled charges against an Oklahoma-based gas exploration and production company, Gulfport Energy Corporation, and its former CEO, Michael G. Moore, for failing to properly disclose as compensation certain perks provided to Moore, as well as failing to disclose certain related person transactions.The SEC's separate orders against Gulfport and Moore find that, from 2014 to 2018, Gulfport failed to disclose approximately $650,000 in executive compensation in...

    2021-02-24 4:31 PM ET
  • SEC Charges Two Former KPMG Auditors for Improper Professional Conduct During Audit of Not-for-Profit College

    Washington, D.C.--(Newsfile Corp. - February 23, 2021) - The Securities and Exchange Commission today suspended two former KPMG auditors from practicing before the SEC in connection with settled charges against the two for improper professional conduct during an audit of the now defunct, not-for-profit College of New Rochelle.  The SEC previously charged the college’s former controller with fraud in connection with the college’s fiscal year 2015 financial statements. According to the SEC’s orders, former KPMG partner Christopher Stanley approved, and former...

    2021-02-23 11:12 AM ET
  • SEC Awards More Than $9.2 Million to Whistleblower for Successful Related Actions, Including Agreement With DOJ

    Washington, D.C.--(Newsfile Corp. - February 23, 2021) - The Securities and Exchange Commission today announced an award of more than $9.2 million to a whistleblower who provided information that led to successful related actions by the U.S. Department of Justice, one of which was a non-prosecution agreement (NPA) or deferred prosecution agreement (DPA). The whistleblower previously received an award for contributions to an SEC enforcement action based on the same information that supported the award for the related actions, a...

    2021-02-23 9:37 AM ET
  • SEC Awards Almost $3 Million Total in Separate Whistleblower Awards

    Washington, D.C.--(Newsfile Corp. - February 19, 2021) - The Securities and Exchange Commission today announced two separate whistleblower awards for total payments of almost $3 million.In the first order, the SEC awarded a whistleblower over $2.2 million for providing important, high-quality information that aided an investigation. The whistleblower’s tip helped the SEC bring an enforcement action that resulted in the return of millions of dollars to harmed clients. In the second order, the SEC awarded almost $700,000 to a whistleblower who...

    2021-02-19 11:07 AM ET
  • SEC Charges Ratings Agency With Disclosure And Internal Controls Failures Relating To Undisclosed Model Adjustments

    Washington, D.C.--(Newsfile Corp. - February 16, 2021) - The Securities and Exchange Commission today filed a civil action alleging that former credit ratings agency Morningstar Credit Ratings LLC violated disclosure and internal controls provisions of the federal securities laws in rating commercial mortgage-backed securities (CMBS).Credit ratings are used by market participants to help evaluate credit risk, price certain securities, and guide the investment decisions of individuals and institutional investors alike. To promote transparency in the process, the federal securities laws...

    2021-02-16 5:04 PM ET
  • SEC Suspends Trading in Inactive Issuer Touted on Social Media

    Washington D.C.--(Newsfile Corp. - February 11, 2021) - The Securities and Exchange Commission today suspended trading in an inactive company amid questions surrounding online promotion of the company’s securities and recent trading activity.The SEC’s trading suspension order states that since late January 2021, certain social media accounts may be engaged in a coordinated attempt to artificially influence the share price of SpectraScience Inc. (OTC Pink: SCIE), an inactive Minnesota-based corporation. The order further states that during the same period, the...

    2021-02-11 10:39 AM ET
  • Kelly L. Gibson Named Acting Deputy Director of Division of Enforcement

    Washington D.C.--(Newsfile Corp. - February 5, 2021) - The Securities and Exchange Commission today announced that Kelly L. Gibson, currently the Director of the Philadelphia Regional Office, has been named the Acting Deputy Director of the Division of Enforcement."Kelly is a proven leader and a talented lawyer," said SEC Acting Chair Allison Herren Lee. "As Associate Regional Director and then as Head of the Philadelphia office, she has built an impressive...

    2021-02-05 1:42 PM ET
  • Katherine K. Martin, Associate Director in the Office of International Affairs, to Leave SEC

    Washington, D.C.--(Newsfile Corp. - February 5, 2021) - The Securities and Exchange Commission today announced that Katherine K. Martin, Associate Director in the Office of International Affairs, will leave the agency in February after 15 years of public service.For the last five years, Ms. Martin oversaw the Commission’s multilateral and bilateral engagement on a wide range of cross-border policy and supervisory cooperation issues. “Katherine has been a leading player in enhancing the SEC’s relationships with its international counterparts and building...

    2021-02-05 9:53 AM ET