Regulatory Announcements

Washington, D.C.--(Newsfile Corp. - August 2, 2021) - The Securities and Exchange Commission today charged accounting firm Ernst & Young LLP (EY), one of its partners, and two of its former partners with improper professional conduct for violating auditor independence rules in connection with EY's pursuit to serve as the...
Banking/Financial Services
2021-08-02 1:33 PM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 2, 2021) - The Securities and Exchange Commission today announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings.In the first order, the SEC awarded more than $2 million to a whistleblower who provided valuable...
Banking/Financial Services
2021-08-02 12:43 PM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 30, 2021) - The Securities and Exchange Commission today announced securities fraud charges against recidivist Michael Shustek, the CEO of several Las Vegas real estate investment trusts (REITs), and his wholly owned investment advisory firm,...
Banking/Financial Services
2021-07-30 11:40 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 29, 2021) - The Securities and Exchange Commission today announced charges against Trevor R. Milton, the founder, former CEO and former executive chairman of Nikola Corporation, for repeatedly disseminating false and misleading information – typically...
Banking/Financial Services
2021-07-29 11:40 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 28, 2021) - The Securities and Exchange Commission today charged Joshua L. Rupp of Michigan for engaging in securities fraud and for acting as an unregistered broker-dealer. The SEC’s complaint, filed in the U.S. District Court for the Western District of Michigan, alleges that Rupp...
Banking/Financial Services
2021-07-28 2:39 PM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 26, 2021) - The Securities and Exchange Commission today announced that 21 investment advisers and 6 broker-dealers have agreed to settle charges that they failed to timely file and deliver their client or customer relationship summaries – known as Form CRS – to their...
Banking/Financial Services
2021-07-26 4:37 PM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 26, 2021) - The Securities and Exchange Commission today announced the approval of a substituted compliance determination order with respect to security-based swap dealers and major security-based swap participants (SBS Entities) subject to regulation in...
Banking/Financial Services
2021-07-26 11:00 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 22, 2021) - The Securities and Exchange Commission today announced the appointment of YJ Fischer as Director of the Office of International Affairs (OIA), effective Aug. 2. Ms. Fischer previously served in various roles at the U.S. State Department during the Obama Administration, including as...
Banking/Financial Services
2021-07-22 4:37 PM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 22, 2021) - The Securities and Exchange Commission today announced an emergency action including a temporary restraining order and asset freeze to stop an alleged fraudulent offering of securities and misappropriation of investor assets by Outdoor Capital Partners LLC and its director Samuel J....
Banking/Financial Services
2021-07-22 3:31 PM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 22, 2021) - The Securities and Exchange Commission today announced that it has filed an emergency action charging California resident Charlie Abujudeh with running microcap fraud schemes targeting retail investors.According to the SEC’s complaint filed today in U.S. District Court for the Eastern District...
Banking/Financial Services
2021-07-22 1:52 PM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 21, 2021) - The Securities and Exchange Commission today announced an award of nearly $3 million to a whistleblower whose information and assistance led to a successful SEC enforcement action.“The whistleblower alerted the SEC to previously...
Banking/Financial Services
2021-07-21 10:26 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 21, 2021) - The Securities and Exchange Commission today announced that Fort Worth, Texas, specialty retailer Tandy Leather Factory Inc. and its former chief executive officer, Shannon Greene, have agreed to settle charges for accounting,...
Banking/Financial Services
2021-07-21 8:47 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 19, 2021) - The Securities and Exchange Commission today announced charges against Aron Govil of Jacksonville, Florida, for defrauding investors in two companies he controlled, Cemtrex Inc. and Telidyne Inc.   According to the SEC’s complaint, filed today in U.S. District Court for the Southern...
Banking/Financial Services
2021-07-19 1:21 PM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 19, 2021) - The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and asset freeze to halt an alleged ongoing offering fraud by Las...
Banking/Financial Services
2021-07-19 10:37 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 19, 2021) - The Securities and Exchange Commission today filed a settled action against UBS Financial Services Inc. for compliance failures relating to sales of a volatility linked exchange-traded product (ETP).  This is the sixth...
Banking/Financial Services
2021-07-19 8:57 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 16, 2021) - The Securities and Exchange Commission today announced the appointments of Corey Klemmer, Adam Large, Mika Morse, Sirimal Mukerjee, and Sai Rao to Chair Gary Gensler's policy staff, led by the Policy Director...
Banking/Financial Services
2021-07-16 11:09 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 15, 2021) - The Securities and Exchange Commission today announced an award of more than $1 million to a whistleblower whose information and assistance led to an SEC enforcement action.  The whistleblower provided SEC staff...
Banking/Financial Services
2021-07-15 11:55 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 15, 2021) - The Securities and Exchange Commission today charged the former CEO and CFO of FTE Networks Inc., a network infrastructure company formerly based in Naples, Florida, with conducting a multi-year accounting fraud. This...
Banking/Financial Services
2021-07-15 10:36 AM EDT | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 14, 2021) - The Securities and Exchange Commission today announced that Peter B. Driscoll, the Director of the Division of Examinations, will depart the agency effective Aug. 14. Daniel Kahl, the Division's Deputy Director, will be named Acting Director upon Mr. Driscoll's departure."I thank Dan...
Banking/Financial Services
2021-07-14 4:50 PM EDT | Newsfile SEC Press Digest