SEC's Division of Investment Management to Host Second Annual Conference on Emerging Trends in Asset Management
Washington, D.C.--(Newsfile Corp. - April 17, 2024) - The Securities and Exchange Commission’s Division of Investment Management (IM) today announced it will host the second annual Conference on Emerging Trends in Asset Management on Thursday, May 16, 2024. The conference will bring together a variety of asset management industry participants, regulators, and academics to discuss emerging trends in asset management. The full agenda with a list of speakers is available here. Conference topics...
2024-04-17 3:18 PM EDT
SEC Issues Second Fee Rate Advisory for Fiscal Year 2024
Washington, D.C.--(Newsfile Corp. - April 17, 2024) - The Securities and Exchange Commission today announced that, starting on May 22, 2024, the fee rates applicable to most securities transactions will be set at $27.80 per million dollars. Consequently, each self-regulatory organization will continue to pay the Commission a rate of $8 per million for covered sales occurring on charge dates through May 21, 2024, and a rate of $27.80 per million for covered sales occurring on charge dates on...
2024-04-17 11:04 AM EDT
SEC Charges Five Investment Advisers for Marketing Rule Violations
Washington, D.C.--(Newsfile Corp. - April 12, 2024) - The Securities and Exchange Commission today announced settled charges against five registered investment advisers for Marketing Rule violations. All five firms have agreed to settle the SEC’s charges and to pay $200,000 in combined penalties. The five advisory firms are: GeaSphere LLC Bradesco Global Advisors Inc. Credicorp Capital Advisors LLC InSight Securities Inc. Monex Asset Management Inc. The SEC’s orders found that the five firms...
2024-04-12 9:39 AM EDT
Register for the SEC's 43rd Annual Small Business Forum April 16-18
Washington, D.C.--(Newsfile Corp. - April 4, 2024) - The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation will host the SEC’s 43rd Annual Government-Business Forum on Small Business Capital Formation during three virtual sessions April 16-18 from 1-2:30 p.m. ET. The Forum is a unique event where members of the public and private sectors gather to provide feedback to improve capital-raising policy. The event will feature appearances by each of...
2024-04-04 4:25 PM EDT
SEC Charges Advisory Firm Senvest Management with Recordkeeping and Other Failures
Washington, D.C.--(Newsfile Corp. - April 3, 2024) - The Securities and Exchange Commission today announced charges against registered investment adviser Senvest Management LLC for widespread and longstanding failures to maintain and preserve certain electronic communications. The SEC also charged Senvest with failing to enforce its code of ethics. To settle this matter, Senvest admitted the facts set forth in the Commission’s order, acknowledged that its conduct violated the federal...
2024-04-03 3:49 PM EDT
SEC Encourages Investors to Plan for Their Financial Future During Financial Capability Month
Washington, D.C.--(Newsfile Corp. - April 2, 2024) - The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today announced that its theme for April’s National Financial Capability Month is, “What does your financial future look like? Having a plan can help answer the question.” During the month of April, SEC leadership and staff will highlight the importance of creating a saving and investing plan to help investors meet their financial goals, and will...
2024-04-02 3:18 PM EDT
SEC Adopts Reforms Relating to Investment Advisers Operating Exclusively Through the Internet
Washington, D.C.--(Newsfile Corp. - March 27, 2024) - The Securities and Exchange Commission today adopted amendments to the rule permitting certain internet investment advisers to register with the Commission (the “internet adviser exemption”). The amendments will require an investment adviser relying on the internet adviser exemption to have at all times an operational interactive website through which the adviser provides digital investment advisory services on an ongoing basis to more...
2024-03-27 10:10 AM EDT
SEC Seeks Candidates for Investor Advisory Committee
Washington, D.C.--(Newsfile Corp. - March 26, 2024) - The Securities and Exchange Commission is seeking five candidates for appointment to the Investor Advisory Committee to help protect investors and improve securities regulations. The Committee was established under the Dodd-Frank Wall Street Reform and Consumer Protection Act to advise the Commission, protect investor interests and promote the integrity of the securities marketplace. Committee members represent the interests of investors,...
2024-03-26 4:29 PM EDT
SEC Charges Former Arista Networks Chairman Andy Bechtolsheim with Insider Trading
Washington, D.C.--(Newsfile Corp. - March 26, 2024) - The Securities and Exchange Commission today announced insider trading charges against Andreas “Andy” Bechtolsheim, the founder and Chief Architect of Silicon Valley-based technology company Arista Networks, Inc. To settle the SEC’s charges, Bechtolsheim agreed to pay a civil penalty of nearly $1 million. According to the SEC’s complaint, Bechtolsheim misappropriated material nonpublic information regarding the impending acquisition of...
2024-03-26 9:08 AM EDT
SEC's OMWI FY 2023 Annual Report Highlights the Agency's Diversity, Equity, Inclusion and Accessibility Initiatives and Progress
Washington, D.C.--(Newsfile Corp. - March 21, 2024) - As part of its continuing efforts to promote diversity, equity, and inclusion with regulated entities, the Securities and Exchange Commission’s Office of Minority and Women Inclusion (OMWI) published two reports: the 2022 Diversity Assessment Report for Entities Regulated by the SEC and OMWI’s Fiscal Year (FY) 2023 Annual Report to Congress. The 2022 Diversity Assessment Report for Entities Regulated by the SEC analyzes information...
2024-03-21 9:22 AM EDT
SEC, NASAA, and Georgia Secretary of State to Host Investor Roundtables at University of North Georgia and Dalton State College
Washington, D.C.--(Newsfile Corp. - March 19, 2024) - The Securities and Exchange Commission today announced that it will join the North American Securities Administrators Association (NASAA), the Georgia Secretary of State, the University of North Georgia, and Dalton State College to host joint public roundtables and interactive sessions at both academic institutions on Wednesday, March 27, and Thursday, March 28, 2024, at 10 a.m. ET. Portions of the event will be webcast on the SEC website,...
2024-03-19 1:15 PM EDT
Genesis Agrees to Pay $21 Million Penalty to Settle SEC Charges
Washington, D.C.--(Newsfile Corp. - March 19, 2024) - The Securities and Exchange Commission today announced that Genesis Global Capital, LLC agreed to a final judgment ordering it to pay a $21 million civil penalty and imposing a permanent injunction to settle charges that it engaged in the unregistered offer and sale of securities through a crypto asset lending program known as the Gemini Earn program. Under the terms of the settlement, the SEC will not receive any portion of the penalty...
2024-03-19 9:06 AM EDT
SEC Charges Two Investment Advisers with Making False and Misleading Statements About Their Use of Artificial Intelligence
Washington, D.C.--(Newsfile Corp. - March 18, 2024) - The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their purported use of artificial intelligence (AI). The firms agreed to settle the SEC’s charges and pay $400,000 in total civil penalties. “We find that Delphia and Global Predictions marketed to their clients and prospective clients that...
2024-03-18 8:20 AM EDT
SEC Charges 17 Individuals in $300 Million Crypto-Asset Ponzi Scheme Targeting the Latino Community
Washington, D.C.--(Newsfile Corp. - March 14, 2024) - The Securities and Exchange Commission today charged 17 individuals for their roles in a $300 million Ponzi scheme that involved Houston, Texas-based CryptoFX LLC and targeted more than 40,000 predominantly Latino investors in the U.S. and two other countries. Today’s complaint follows the SEC’s successful emergency action in September 2022 that halted the CryptoFX scheme and charged its two main principals, Mauricio Chavez and Giorgio...
2024-03-14 4:26 PM EDT
SEC Charges Tallgrass Energy's Former Board Member Roy Cook and Four Others with Insider Trading in Advance of Blackstone Acquisition
Washington, D.C.--(Newsfile Corp. - March 12, 2024) - The Securities and Exchange Commission today announced insider trading charges against Roy Cook, a former board member of Tallgrass Energy LP, and four of his friends for trading on material nonpublic information in advance of a public announcement that Blackstone Infrastructure Partners had offered to acquire Tallgrass and take it private. The SEC also charged Cook for failing to file required disclosure reports concerning securities...
2024-03-12 12:30 PM EDT
SEC Charges Skechers with Making Undisclosed Payments to Executives' Family Members
Washington, D.C.--(Newsfile Corp. - March 7, 2024) - The Securities and Exchange Commission today announced that Skechers U.S.A. Inc., a footwear company based in California, agreed to settle charges for failing to disclose payments for the benefit of its executives and their immediate family members. Skechers agreed to pay a $1.25 million civil penalty to settle the SEC’s charges. According to the SEC’s order, from 2019 through 2022, Skechers did not comply with related person transaction...
2024-03-07 5:20 PM EST
SEC Adopts Amendments to Enhance Disclosure of Order Execution Information
Washington, D.C.--(Newsfile Corp. - March 6, 2024) - The Securities and Exchange Commission today adopted rule amendments that update the disclosure required under Rule 605 of Regulation NMS for order executions in national market system stocks (NMS stocks), which are stocks listed on a national securities exchange. Rule 605 was adopted in 2000 to help the public compare and evaluate execution quality at different market centers. “In the 24 years since Rule 605 was adopted, our equity markets...
2024-03-06 1:29 PM EST
SEC Adopts Rules to Enhance and Standardize Climate-Related Disclosures for Investors
Washington, D.C.--(Newsfile Corp. - March 6, 2024) - The Securities and Exchange Commission today adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a registrant’s operations and how it manages those risks while balancing concerns about...
2024-03-06 12:44 PM EST
SEC Charges Advisory Firm HG Vora for Disclosure Failures Ahead of Ryder Acquisition Bid
Washington, D.C.--(Newsfile Corp. - March 1, 2024) - The Securities and Exchange Commission today announced settled charges against New York-based investment adviser HG Vora Capital Management LLC for its failure to make timely ownership disclosures in the lead-up to its May 2022 acquisition bid for trucking fleet company Ryder System Inc. HG Vora agreed to pay a $950,000 civil penalty to settle the SEC’s charges. Under the federal securities laws, a company that owns more than five percent...
2024-03-01 10:12 AM EST
SEC Charges Lordstown Motors with Misleading Investors about Company's Flagship Electric Vehicle
Washington, D.C.--(Newsfile Corp. - February 29, 2024) - The Securities and Exchange Commission today charged Lordstown Motors Corp. with misleading investors about the sales prospects of Lordstown’s flagship electric pickup truck, the Endurance. Lordstown, which filed for bankruptcy in 2023, went public by merging with a special purpose acquisition company (SPAC) in 2020. According to the SEC’s settled order, Lordstown exaggerated the demand for the Endurance, claiming that the company had...
2024-02-29 4:38 PM EST