SEC's Anti-Fraud Public Service Campaign Warns Investors About Relationship Investment Scams
Washington, D.C.--(Newsfile Corp. - April 16, 2025) - The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today unveiled its anti-fraud public service campaign, which warns investors about the devastating impact relationship investment scams can have on their financial future. Relationship investment scams typically involve a “long con” in which scammers reach out online or through text messages, attempting to build trust through friendship or a romantic...
2025-04-16 10:42 AM EDT
SEC Publishes New Data and Analysis About Registered Investment Companies and Money Market Funds
Washington, D.C.--(Newsfile Corp. - April 14, 2025) - The Securities and Exchange Commission today published new data and analysis in a pair of reports that provide the investing public with updated key information about registered investment companies and money market funds. “It is important that the Commission publicly shares the information it collects in a clear and transparent way,” said Acting Chairman Mark Uyeda. “These two reports will provide the public with key information about the...
2025-04-14 12:06 PM EDT
SEC Announces Agenda, Panelists for Roundtable on Crypto Trading
Washington, D.C.--(Newsfile Corp. - April 7, 2025) - The Securities and Exchange Commission’s Crypto Task Force has announced the agenda and panelists for its April 11 roundtable, “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.” “Hearing the public’s concerns and suggestions helps the SEC create a clear, sensible, and fair path forward for the crypto industry,” said Commissioner Hester M. Peirce, leader of the Crypto Task Force. “I look forward to this roundtable...
2025-04-07 9:40 AM EDT
By Building Wealth, Investors Power U.S. Economy
Washington, D.C.--(Newsfile Corp. - April 2, 2025) - The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today announced, as part of April’s National Financial Literacy Month, it will highlight the key role investing plays in both powering the U.S. economy and preparing U.S. investors for their own financial future. Investing is an important tool for individuals and families in achieving their financial goals, such as affording higher education,...
2025-04-02 11:57 AM EDT
SEC Charges Three Arizona Individuals with Defrauding Investors in $284 Million Municipal Bond Offering That Financed Sports Complex
Washington, D.C.--(Newsfile Corp. - April 1, 2025) - The Securities and Exchange Commission today charged Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga with creating false documents that were provided to investors in two municipal bond offerings that raised $284 million to build one of the largest sports venues of its kind in the United States. As alleged in the SEC’s complaint, in August 2020 and June 2021, Randy Miller’s nonprofit company, Legacy Cares, issued approximately...
2025-04-01 3:34 PM EDT
SEC Votes to End Defense of Climate Disclosure Rules
Washington, D.C.--(Newsfile Corp. - March 27, 2025) - The Securities and Exchange Commission today voted to end its defense of the rules requiring disclosure of climate-related risks and greenhouse gas emissions. SEC Acting Chairman Mark T. Uyeda said, “The goal of today’s Commission action and notification to the court is to cease the Commission’s involvement in the defense of the costly and unnecessarily intrusive climate change disclosure rules.” The rules, adopted by the Commission on...
2025-03-27 4:39 PM EDT
SEC Crypto Task Force to Host Four More Roundtables
Washington, D.C.--(Newsfile Corp. - March 25, 2025) - The Securities and Exchange Commission’s Crypto Task Force announced today it will hold four more roundtables in its ongoing series discussing crypto asset regulation. The dates and topics for each roundtable are as follows: April 11, 2025 - Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading April 25, 2025 - Know Your Custodian: Key Considerations for Crypto Custody May 12, 2025 – Tokenization - Moving Assets Onchain: W
2025-03-25 5:46 PM EDT
SEC Announces Agenda, Panelists for Roundtable on Artificial Intelligence
Washington, D.C.--(Newsfile Corp. - March 20, 2025) - The Securities and Exchange Commission today announced the agenda and panelists for the March 27 roundtable on artificial intelligence in the financial industry. “I look forward to hearing from the panelists on how emerging technologies, such as artificial intelligence, can both improve the cost-effectiveness of the Commission’s regulations and provide additional value to market participants,” said SEC Acting Chairman Mark T. Uyeda. “I...
2025-03-20 1:27 PM EDT
SEC Charges New Jersey Investment Adviser and His Firm with Fraud and Other Violations
Washington, D.C.--(Newsfile Corp. - March 17, 2025) - The Securities and Exchange Commission today announced that it has filed charges against David Yow Shang Chiueh of East Hanover, New Jersey and his investment advisory firm, Upright Financial Corp., for misconduct and for investing more than 25 percent of Upright Growth Fund’s assets in a single company over multiple years, causing losses of $1.6 million. In November 2021, Chiueh and Upright settled SEC charges that they, as investment...
2025-03-17 4:54 PM EDT
SEC Extends Compliance Dates for Amendments to Investment Company Names Rule
Washington, D.C.--(Newsfile Corp. - March 14, 2025) - The Securities and Exchange Commission today announced a six-month extension of the compliance dates for amendments adopted in September 2023 to the Investment Company Act “Names Rule,” which addresses fund names likely to mislead investors about a fund’s investments and risks. The compliance date for larger fund groups is extended from Dec. 11, 2025, to June 11, 2026, and the compliance date for smaller fund groups is extended from June...
2025-03-14 7:11 PM EDT
SEC Charges Investment Adviser and Two Officers for Misuse of Fund and Portfolio Company Assets
Washington, D.C.--(Newsfile Corp. - March 7, 2025) - The Securities and Exchange Commission today filed settled charges against registered investment adviser Momentum Advisors LLC, its former managing partner Allan J. Boomer, and its former chief operating officer and partner Tiffany L. Hawkins, for breaches by Boomer and Hawkins of their fiduciary duties when they misused fund and portfolio company assets. According to the SEC’s orders, from at least August 2021 through February 2024,...
2025-03-07 11:08 AM EST
Filer Transition to New and Improved EDGAR Begins March 24
Washington, D.C.--(Newsfile Corp. - March 6, 2025) - The Securities and Exchange Commission is providing extensive guidance and resources to assist filers with upcoming access and account management enhancements to the security of the agency’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. On March 24, a new EDGAR Filer Management dashboard will go live on the SEC’s website, and filers can begin enrolling in “EDGAR Next” by submitting an amended Form ID, which is the...
2025-03-06 2:48 PM EST
SEC Crypto Task Force to Host Roundtable on Security Status
Washington, D.C.--(Newsfile Corp. - March 4, 2025) - The Securities and Exchange Commission today announced that its Crypto Task Force will host a series of roundtables to discuss key areas of interest in the regulation of crypto assets. The “Spring Sprint Toward Crypto Clarity” series will begin on March 21 with its inaugural roundtable, “How We Got Here and How We Get Out – Defining Security Status.” The initial roundtable on March 21 is open to the public and will be held from 1:00 p.m. to...
2025-03-04 2:21 AM EST
SEC Staff Facilitates Capital Formation for Companies Planning Public Offerings
Washington, D.C.--(Newsfile Corp. - March 4, 2025) - The Securities and Exchange Commission today announced that its Division of Corporation Finance is further facilitating capital formation by enhancing the accommodations available to companies for nonpublic review of draft registration statements. In 2012, the JOBS Act permitted certain companies to confidentially submit for staff review a draft registration statement for an initial public offering. In 2017, the staff expanded these...
2025-03-04 2:17 AM EST
Commissioner Hester Peirce Announces Crypto Task Force Staff
Washington, D.C.--(Newsfile Corp. - March 3, 2025) - The Securities and Exchange Commission today announced the members of the Crypto Task Force staff, which is advising the Commission on matters related to crypto. The task force is composed of staff from the Acting Chairman’s office and other divisions and offices across the Commission. SEC Commissioner Hester Peirce said, “The Crypto Task Force exhibits deep expertise and an enthusiastic commitment to identifying—with the help of other...
2025-03-03 3:08 PM EST
SEC to Host Roundtable on Artificial Intelligence
Washington, D.C.--(Newsfile Corp. - February 28, 2025) - The Securities and Exchange Commission today announced it will hold a roundtable discussion on Artificial Intelligence in the financial industry. The event takes place on March 27 from 9 a.m. to 4 p.m. at the SEC's headquarters in Washington, D.C. and is open to the public for either in-person or virtual attendance. The AI roundtable will discuss the risks, benefits, and governance of AI in the financial industry. SEC Acting Chairman...
2025-02-28 12:54 PM EST
SEC Announces Dismissal of Civil Enforcement Action Against Coinbase
Washington, D.C.--(Newsfile Corp. - February 27, 2025) - The Securities and Exchange Commission today announced that the Commission has filed a joint stipulation with Coinbase Inc. and Coinbase Global Inc. to dismiss the ongoing civil enforcement action against the two entities. On January 21, 2025, the Commission announced the formation of the Crypto Task Force, which is dedicated to helping develop a comprehensive and clear regulatory framework for crypto assets. Given the pending work of...
2025-02-27 6:56 PM EST
SEC Charges Justinas Butkus with Orchestrating $4 Million Fraud
Washington, D.C.--(Newsfile Corp. - February 27, 2025) - The Securities and Exchange Commission today filed charges against Justinas Butkus, of Lithuania, and two companies he owned and controlled, HMC Trading LLC and HMC Management LLC, for fraudulently raising approximately $4.1 million from 64 investors by selling interests in mutual funds that did not exist. As alleged in the SEC’s complaint, in late 2021, Butkus, under the alias Darius Karpavicius, operated fictitious investment firms...
2025-02-27 6:27 PM EST
SEC Investor Advisory Committee to Examine the Disclosure of AI's Impact on Company Operations; and Retail Investor Fraud in America at March 6 Meeting
Washington, D.C.--(Newsfile Corp. - February 27, 2025) - The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting at the SEC Headquarters in Washington, D.C., on March 6, at 10 a.m. ET. The meeting will also be webcast on the SEC website. The committee will host two panels: Disclosure of Artificial Intelligence’s Impact on Operations; and Retail Investor Fraud in America The Committee will also discuss a potential recommendation regarding preserving...
2025-02-27 1:52 PM EST
SEC Charges Alan Burak, Founder of Never Alone Capital, with Fraud
Washington, D.C.--(Newsfile Corp. - February 26, 2025) - The Securities and Exchange Commission today charged Alan Burak, founder of Never Alone Capital LLC, with orchestrating a fraudulent scheme that raised approximately $4 million, most of which Burak misappropriated for personal expenses. The SEC’s complaint alleges that, between 2018 and 2023, Burak engaged in a fraudulent scheme to recruit investors in his so-called investment fund, Never Alone Capital LLC, by falsely representing...
2025-02-26 1:35 PM EST