Latest Regulatory Announcements
Official announcements from the United States Securities and Exchange Commission (SEC) highlighting recent actions taken by the Agency and other newsworthy information.
-
SEC Staff to Host Roundtable on Regulatory Approaches to Combating Retail Investor FraudWashington, D.C.--(Newsfile Corp. - September 18, 2018) - The Securities and Exchange Commission announced today that its Division of Trading and Markets will host a roundtable on Sept. 26 on combating retail investor fraud. The Commission staff is interested in views from a broad range of market participants, regulators and industry experts ...
2018-09-18 3:11 PM ET | Newsfile SEC Press Digest -
Biopharmaceutical Company, Executives Charged With Misleading Investors About Cancer Drug
Washington, D.C.--(Newsfile Corp. - September 18, 2018) - The Securities and Exchange Commission today announced that a Boulder, Colorado-based biopharmaceutical company, its CEO, and its former CFO will pay more than $20 million in penalties to settle charges of misleading investors about the company’s developmental lung cancer drug. The SEC’s complaint ...
2018-09-18 1:55 PM ET | Newsfile SEC Press Digest -
SeaWorld and Former CEO to Pay More Than $5 Million to Settle Fraud Charges
Washington DC--(Newsfile Corp. - September 18, 2018) - The Securities and Exchange Commission today announced that SeaWorld Entertainment Inc. and its former CEO have agreed to pay more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the company’s reputation and ...
2018-09-18 1:12 PM ET | Newsfile SEC Press Digest -
SEC and NYU to Host Sept. 21 Forum on High-Frequency Trading and Liquidity Resiliency
Washington D.C.--(Newsfile Corp. - September 17, 2018) - The U.S. Securities and Exchange Commission's Division of Economic and Risk Analysis and Division of Trading and Markets are partnering with New York University's Salomon Center for the Study of Financial Institutions to bring together regulators, practitioners, and academics for a half-day symposium ...
2018-09-17 2:22 PM ET | Newsfile SEC Press Digest -
Mark Wolfe Named Associate Director in Office of Derivatives Policy and Trading Practices
Washington, D.C.--(Newsfile Corp. - September 17, 2018) - The Securities and Exchange Commission today announced that Mark E. Wolfe has been named Associate Director of the Office of Derivatives Policy and Trading Practices in the agency’s Division of Trading and Markets. Mr. Wolfe spent nearly seven years at the SEC from ...
2018-09-17 12:56 PM ET | Newsfile SEC Press Digest -
SEC Charges Investment Advisers With Defrauding Retail Advisory Clients
Washington, D.C.--(Newsfile Corp. - September 14, 2018) - The Securities and Exchange Commission today charged an Indianapolis-based investment advisory firm and its sole owner with selling approximately $13 million of high-risk securities to more than 120 advisory clients – many of whom are current or former teachers or other workers ...
2018-09-14 1:28 PM ET | Newsfile SEC Press Digest -
Whistleblower Receives Award of Approximately $1.5 Million
Washington, D.C.--(Newsfile Corp. - September 14, 2018) - The Securities and Exchange Commission today announced that a whistleblower has earned an award of more than $1.5 million. The whistleblower provided the SEC with vital information and ongoing assistance that proved important to the overall success of an enforcement action. However, ...
2018-09-14 12:40 PM ET | Newsfile SEC Press Digest -
SEC Charges Citigroup for Dark Pool Misrepresentations
Washington, D.C.--(Newsfile Corp. - September 14, 2018) - The Securities and Exchange Commission today entered an order finding that Citigroup Global Markets Inc. misled users of a dark pool operated by one of its affiliates. The SEC’s order found that Citigroup misled users with assurances that high-frequency traders were not allowed ...
2018-09-14 11:50 AM ET | Newsfile SEC Press Digest -
SEC Monitoring Impact of Hurricane Florence on Capital Markets
Washington, D.C.--(Newsfile Corp. - September 13, 2018) - The Securities and Exchange Commission is closely monitoring the impact of Hurricane Florence on investors and capital markets. “The SEC is keeping a close eye on the progress of Hurricane Florence and any effects it may have on investors and capital markets. Dedicated staff ...
2018-09-13 5:17 PM ET | Newsfile SEC Press Digest -
Broker-Dealer to Pay $2.75 Million Penalty for Providing Deficient Blue Sheet Data
Washington, D.C.--(Newsfile Corp. - September 13, 2018) - The Securities and Exchange Commission today announced that Convergex Execution Solutions LLC, now known as Cowen Execution Services LLC, will pay $2.75 million to settle charges that the broker-dealer firm provided the SEC with incomplete and deficient securities trading information known as ...
2018-09-13 3:27 PM ET | Newsfile SEC Press Digest -
SEC Charges Hedge Fund Adviser With Short-and-Distort Scheme
Washington, D.C.--(Newsfile Corp. - September 12, 2018) - The Securities and Exchange Commission today charged a hedge fund adviser and his investment advisory firm with illegally profiting from a scheme to drive down the price of San Diego-based Ligand Pharmaceuticals Inc., reaping more than $1.3 million of gains for the ...
2018-09-12 5:19 PM ET | Newsfile SEC Press Digest -
SEC Uses Data Analysis to Detect Cherry-Picking By Broker
Washington, D.C.--(Newsfile Corp. - September 12, 2018) - The Securities and Exchange Commission today charged a New Jersey-based broker with misusing his access to customers’ brokerage accounts to enrich himself and family members at the expense of his customers, many of whom had entrusted him with their retirement accounts. The ...
2018-09-12 12:17 PM ET | Newsfile SEC Press Digest -
United Technologies Charged With Violating FCPA
Washington D.C.--(Newsfile Corp. - September 12, 2018) - The Securities and Exchange Commission today announced that Connecticut-based United Technologies Corporation will pay $13.9 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by making illicit payments in its elevator and aircraft engine businesses.According to the SEC’s ...
2018-09-12 12:16 PM ET | Newsfile SEC Press Digest -
Elad Roisman Sworn In As SEC Commissioner
Washington, D.C.--(Newsfile Corp. - September 11, 2018) - Elad L. Roisman has been sworn into office as an SEC Commissioner by SEC Chairman Jay Clayton.Mr. Roisman was nominated to the SEC by President Donald J. Trump and his nomination was confirmed by the U.S. Senate on September 5.“It is my ...
2018-09-11 5:33 PM ET | Newsfile SEC Press Digest -
SEC Charges Digital Asset Hedge Fund Manager With Misrepresentations and Registration Failures
Washington, D.C.--(Newsfile Corp. - September 11, 2018) - The Securities and Exchange Commission today announced its first-ever enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets.The SEC entered an order finding that Crypto Asset Management LP (CAM) offered a ...
2018-09-11 1:20 PM ET | Newsfile SEC Press Digest -
SEC Charges ICO Superstore and Owners With Operating As Unregistered Broker-Dealers
Washington, D.C.--(Newsfile Corp. - September 11, 2018) - The Securities and Exchange Commission today announced that TokenLot LLC, a self-described “ICO Superstore,” and its owners will settle charges that they acted as unregistered broker-dealers. This is the SEC’s first case charging unregistered broker-dealers for selling digital tokens after the SEC ...
2018-09-11 1:19 PM ET | Newsfile SEC Press Digest -
SEC Obtains Relief to Fully Reimburse Retail Investors Sold Unsuitable Product
Washington, D.C.--(Newsfile Corp. - September 11, 2018) - The Securities and Exchange Commission today announced it has obtained monetary relief that will fully reimburse retail investors for losses on a leveraged oil-linked exchange-traded note (ETN) that registered representatives of Syracuse, New York-based broker-dealer and investment adviser Cadaret, Grant & Co. ...
2018-09-11 1:17 PM ET | Newsfile SEC Press Digest -
SEC Charges Two Brokers With Defrauding Customers
Washington, D.C.--(Newsfile Corp. - September 10, 2018) - The Securities and Exchange Commission charged two brokers for recommending excessive levels of trading that were costly for retail customers but lucrative for the brokers. In separate complaints filed in federal court in Manhattan on Friday, the SEC alleges that Florida resident Emil ...
2018-09-10 1:14 PM ET | Newsfile SEC Press Digest -
SEC Charges Microcap Fraudsters for Roles in Lucrative Market Manipulation Schemes
Washington, D.C.--(Newsfile Corp. - September 7, 2018) - The Securities and Exchange Commission today charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left ...
2018-09-07 3:00 PM ET | Newsfile SEC Press Digest -
SEC Charges Real Estate Broker With FCPA Violations
Washington, DC--(Newsfile Corp. - September 6, 2018) - The Securities and Exchange Commission today announced settled FCPA charges against a New Jersey real estate broker arising out of his attempt to bribe a foreign official while acting as a broker for Colliers International Group, Inc.According to the SEC’s order, Joohyun ...
2018-09-06 5:52 PM ET | Newsfile SEC Press Digest -
SEC Names Anita Bandy and Carolyn Welshhans as Associate Directors in Enforcement Division
Washington, DC--(Newsfile Corp. - September 6, 2018) - The Securities and Exchange Commission today announced that Anita B. Bandy and Carolyn M. Welshhans have been named Associate Directors in the SEC’s Division of Enforcement. In their new roles, Ms. Bandy and Ms. Welshhans will each supervise approximately 40 attorneys, paralegals, ...
2018-09-06 5:45 PM ET | Newsfile SEC Press Digest -
SEC Awards More Than $54 Million to Two Whistleblowers
Washington, DC--(Newsfile Corp. - September 6, 2018) - The Securities and Exchange Commission is awarding $39 million to one whistleblower and $15 million to another whose critical information and continued assistance helped the agency bring an important enforcement action. The $39 million award is the second-largest award in the history ...
2018-09-06 4:34 PM ET | Newsfile SEC Press Digest -
SEC Charges Two Men With Fraud in Fake Trading Accounts Scheme
Washington, DC--(Newsfile Corp. - September 5, 2018) - The Securities and Exchange Commission today charged two Michigan men with fraud for their roles in a fake accounts scheme perpetrated by a phony day-trading firm, Nonko Trading.The SEC alleges that Jeffrey Goldman of West Bloomfield, Michigan, and Christopher Eikenberry of Birmingham, Michigan, ...
2018-09-05 3:10 PM ET | Newsfile SEC Press Digest -
SEC Charges Cannabis Investment Fund and Founder in Fraudulent Scheme
Washington, DC--(Newsfile Corp. - September 5, 2018) - The Securities and Exchange Commission today charged a Texas-based investment fund and its founder with defrauding investors with false promises of massive returns in cannabis-related businesses. The SEC also issued an alert to warn retail investors about marijuana-related securities offerings.The SEC&
2018-09-05 2:57 PM ET | Newsfile SEC Press Digest -
SEC Names Rebecca J. Olsen as Director of the Office of Municipal Securities
Washington, D.C.--(Newsfile Corp. - September 4, 2018) - The Securities and Exchange Commission today announced that Rebecca J. Olsen has been named Director of the agency's Office of Municipal Securities (OMS). Ms. Olsen has served as OMS's Acting Director since September 2017.The Office of Municipal Securities is responsible for coordinating the ...
2018-09-04 1:47 PM ET | Newsfile SEC Press Digest