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.
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SEC Settles Insider Trading Claims Against Former Chairman and CEO of Advanced Medical OpticsWashington, D.C.--(Newsfile Corp. - November 13, 2018) - The Securities and Exchange Commission today announced that it has agreed to resolve its insider trading claims against James V. Mazzo, the former Chairman and Chief Executive Officer of Advanced Medical Optics, Inc. (AMO) for allegedly tipping information about his company's ...
2018-11-13 3:49 PM ET | Newsfile SEC Press Digest -
SEC Announces Agenda, Panelists for Staff Roundtable on the Proxy Process
Washington, D.C.--(Newsfile Corp. - November 8, 2018) - The Securities and Exchange Commission today announced the agenda and panelists for the staff roundtable on the proxy process on November 15, 2018. The roundtable, announced in September, will begin at 9:30 a.m. in the auditorium at the SEC headquarters at 100 ...
2018-11-08 7:50 PM ET | Newsfile SEC Press Digest -
Stock Research Firm and Co-Founders Charged With Deceiving Investors in Supposedly Unbiased Reports
Washington, D.C.--(Newsfile Corp. - November 8, 2018) - The Securities and Exchange Commission today charged a stock research firm and its co-founders with defrauding investors by issuing reports purportedly based on “unbiased” and “not paid for” research when in reality they received thousands of dollars from issuers as a ...
2018-11-08 11:46 AM ET | Newsfile SEC Press Digest -
SEC Charges EtherDelta Founder With Operating an Unregistered Exchange
Washington, D.C.--(Newsfile Corp. - November 8, 2018) - The Securities and Exchange Commission today announced settled charges against Zachary Coburn, the founder of EtherDelta, a digital "token" trading platform. This is the SEC's first enforcement action based on findings that such a platform operated as an unregistered national securities exchange.According to the ...
2018-11-08 10:18 AM ET | Newsfile SEC Press Digest -
Investor Testing of the Proposed Relationship Summary for Investment Advisers and Broker-Dealers
Washington, DC--(Newsfile Corp. - November 7, 2018) - In connection with our ongoing efforts to help address investor confusion about the nature of their relationships with investment advisers and broker-dealers, the SEC’s Office of the Investor Advocate today made available a report on investor testing conducted by the RAND Corporation. ...
2018-11-07 4:49 PM ET | Newsfile SEC Press Digest -
SEC Charges ITG With Misleading Dark Pool Subscribers
Washington, D.C.--(Newsfile Corp. - November 7, 2018) - The Securities and Exchange Commission today announced that ITG Inc. and its affiliate AlterNet Securities Inc. have agreed to pay $12 million to settle charges arising from ITG’s misstatements and omissions about the operation of the firm’s dark pool, POSIT, and ITG’s ...
2018-11-07 1:11 PM ET | Newsfile SEC Press Digest -
Citibank to Pay More Than $38 Million for Improper Handling of ADRs
Washington, D.C.--(Newsfile Corp. - November 7, 2018) - The Securities and Exchange Commission today announced that Citibank N.A. has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).ADRs – U.S. securities that represent foreign shares of a foreign company – require ...
2018-11-07 12:08 PM ET | Newsfile SEC Press Digest -
Anthony S. Kelly, Co-Chief of Asset Management Unit, to Leave SEC After 18 Years of Service
Washington DC--(Newsfile Corp. - November 5, 2018) - The Securities and Exchange Commission today announced that Anthony S. Kelly, Co-Chief of the Enforcement Division’s Asset Management Unit, will be leaving the agency this month after more than 18 years of service.The Asset Management Unit is the Division’s largest specialized ...
2018-11-05 6:18 PM ET | Newsfile SEC Press Digest -
SEC Adopts Rules That Increase Information Brokers Must Provide to Investors on Order Handling
Washington, DC--(Newsfile Corp. - November 2, 2018) - The Securities and Exchange Commission today announced that it has voted to adopt amendments that will require broker-dealers to disclose to investors new and enhanced information about the way they handle investors’ orders. “In the eighteen years since the Commission originally adopted its order handling ...
2018-11-02 5:00 PM ET | Newsfile SEC Press Digest -
SEC Charges Investment Adviser With Running $3.9 Million Fraud
Washington, D.C.--(Newsfile Corp. - November 2, 2018) - The Securities and Exchange Commission today charged a former registered representative and investment adviser in Altoona, Pennsylvania, with operating a long-running offering fraud.The SEC’s complaint alleges that Douglas P. Simanski raised over $3.9 million from approximately 27 of his brokerage customers and ...
2018-11-02 3:56 PM ET | Newsfile SEC Press Digest -
SEC Charges Family Friend of Former Investment Banker With Insider Trading
Washington, D.C.--(Newsfile Corp. - November 2, 2018) - The Securities and Exchange Commission today charged an IT professional in Texas who allegedly participated in an insider trading scheme perpetrated by a former Wall Street investment banking analyst.The SEC’s complaint alleges that Hamed Ettu, a family friend of the analyst Damilare ...
2018-11-02 1:21 PM ET | Newsfile SEC Press Digest -
SEC Enforcement Division Issues Report on FY 2018 Results
Washington, D.C.--(Newsfile Corp. - November 2, 2018) - The Securities and Exchange Commission’s Enforcement Division today issued the annual report of its ongoing efforts to protect investors and market integrity. The report also highlights several significant actions and initiatives that took place in FY 2018. The report presents the ...
2018-11-02 8:06 AM ET | Newsfile SEC Press Digest -
SEC Issues Statement on Certain Provisions of Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants
Washington DC--(Newsfile Corp. - October 31, 2018) - The Securities and Exchange Commission today announced that it has voted to issue a statement setting forth the Commission’s position, for a limited time period, that certain actions with respect to specific provisions of its Business Conduct Standards for Security-Based Swap ...
2018-10-31 3:37 PM ET | Newsfile SEC Press Digest -
SEC Adopts Rules to Modernize Property Disclosures Required for Mining Registrants
Washington DC--(Newsfile Corp. - October 31, 2018) - The Securities and Exchange Commission today announced that it has voted to adopt amendments to modernize the property disclosure requirements for mining registrants, and related guidance, under the Securities Act of 1933 and the Securities Exchange Act of 1934. The amendments ...
2018-10-31 3:19 PM ET | Newsfile SEC Press Digest -
SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
Washington, D.C.--(Newsfile Corp. - October 31, 2018) - The Securities and Exchange Commission today announced that it has updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 16 soliciting entities, four impersonators of genuine firms, and eight bogus regulators. The SEC also ...
2018-10-31 10:56 AM ET | Newsfile SEC Press Digest -
SEC Investor Advisory Committee to Hold Nov. 7 Telephone Meeting
Washington, D.C.--(Newsfile Corp. - October 25, 2018) - The Securities and Exchange Commission’s Investor Advisory Committee will meet telephonically on Nov. 7 at 2 p.m. Eastern Time. The public is invited to listen to the meeting live using the dial-in details provided below. A recording of the meeting will be archived ...
2018-10-25 2:32 PM ET | Newsfile SEC Press Digest -
SEC Issues Agenda for October 29 Meeting of the Fixed Income Market Structure Advisory Committee
Washington, D.C.--(Newsfile Corp. - October 24, 2018) - The Securities and Exchange Commission today released the agenda for the Oct. 29 meeting of the Fixed Income Market Structure Advisory Committee meeting. The Commission established the advisory committee to provide a formal mechanism through which the Commission can receive advice and ...
2018-10-24 8:53 AM ET | Newsfile SEC Press Digest -
SEC Announces $23.8 Million Settlement with the Self-Proclaimed “Frack Master”
Washington, D.C.--(Newsfile Corp. - October 23, 2018) - The Securities and Exchange Commission today announced it has agreed to a settlement with Christopher A. Faulkner—the self-proclaimed “Frack Master”—in connection with his wide-ranging securities-fraud scheme that raised over $80 million from hundreds of investors nationwide. Faulkner has simultaneously entered into a ...
2018-10-23 12:22 PM ET | Newsfile SEC Press Digest -
SEC Suspends Trading in Company for Making False Cryptocurrency-Related Claims about SEC Regulation and Registration
Washington, D.C.--(Newsfile Corp. - October 22, 2018) - The Securities and Exchange Commission today suspended trading in the securities of a company amid questions surrounding its statements about partnering with a claimed SEC-qualified custodian for use with cryptocurrency transactions and a purportedly registered public offering of preferred stock.The SEC’s trading suspension ...
2018-10-22 9:47 AM ET | Newsfile SEC Press Digest -
SEC Charges Lawyer and Her Husband in EB-5 Fraud
Washington, D.C.--(Newsfile Corp. - October 18, 2018) - The Securities and Exchange Commission today charged a California-based immigration attorney and her husband in a fraudulent scheme that generated millions of dollars of undisclosed compensation from foreign investors seeking permanent U.S. residency through the EB-5 Immigrant Investor Program. The SEC’s complaint ...
2018-10-18 1:52 PM ET | Newsfile SEC Press Digest -
SEC Launches New Strategic Hub for Innovation and Financial Technology
Washington D.C.--(Newsfile Corp. - October 18, 2018) - The U.S. Securities and Exchange Commission today announced the launch of the agency's Strategic Hub for Innovation and Financial Technology (FinHub).The FinHub will serve as a resource for public engagement on the SEC's FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets), ...
2018-10-18 1:37 PM ET | Newsfile SEC Press Digest -
SEC Announces 2018 Government-Business Forum to Be Held at The Ohio State University
Washington, D.C.--(Newsfile Corp. - October 18, 2018) - The Securities and Exchange Commission today announced it is partnering with the National Center for the Middle Market at The Ohio State University Max M. Fisher College of Business to host the SEC’s annual Government-Business Forum on Small Business Capital Formation ...
2018-10-18 8:08 AM ET | Newsfile SEC Press Digest -
SEC Charges Investment Adviser With Stealing From Friends, Community Members
The Securities and Exchange Commission today announced charges against an investment adviser with a history of violating the securities laws for defrauding his close friends and community members. According to the SEC’s complaint filed Tuesday, from at least 2014 through at least 2017, Bruce J. Fixelle solicited investments from close friends he met through ...
2018-10-17 2:41 PM ET | Newsfile SEC Press Digest -
SEC Provides Regulatory Relief and Assistance for Hurricane Victims
Washington, D.C.--(Newsfile Corp. - October 16, 2018) - The Securities and Exchange Commission today announced that it is providing regulatory relief to publicly traded companies, investment companies, accountants, transfer agents, municipal advisors, and others affected by Hurricane Michael. The loss of property, power, transportation, and mail delivery due to the hurricane poses challenges ...
2018-10-16 6:29 PM ET | Newsfile SEC Press Digest -
SEC Investigative Report: Public Companies Should Consider Cyber Threats When Implementing Internal Accounting Controls
Washington, D.C.--(Newsfile Corp. - October 16, 2018) - The Securities and Exchange Commission today issued an investigative report cautioning that public companies should consider cyber threats when implementing internal accounting controls. The report is based on the SEC Enforcement Division's investigations of nine public companies that fell victim to cyber ...
2018-10-16 9:41 AM ET | Newsfile SEC Press Digest