Latest Regulatory Announcements

Washington, D.C.--(Newsfile Corp. - May 15, 2019) - Jurors in Manhattan federal court today returned a verdict in the Securities and Exchange Commission’s favor against a brokerage firm and two of its executives.The SEC charged the brokerage firm, Portfolio Advisors Alliance Inc. (PAA), Howard J. Allen, the indirect owner of PAA, and ...
Banking/Financial Services
2019-05-15 6:32 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - May 10, 2019) - The Securities and Exchange Commission today proposed a package of rule amendments and interpretive guidance to improve the framework for regulating cross-border security-based swaps transactions and market participants.The proposals are intended to improve the regulatory framework by pragmatically addressing implementation issues and ...
Banking/Financial Services
2019-05-10 10:16 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - May 9, 2019) - The Securities and Exchange Commission today voted to propose amendments to the accelerated filer and large accelerated filer definitions.  The proposed amendments would reduce costs for certain lower-revenue companies by more appropriately tailoring the types of companies that are categorized as accelerated ...
Banking/Financial Services
2019-05-09 10:49 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - May 7, 2019) - The Securities and Exchange Commission today announced settled insider trading charges against a Nevada man who obtained confidential information about a pending corporate merger from a lifelong friend and used it to generate more than $250,000 in illicit trading profits.According to the ...
Banking/Financial Services
2019-05-07 2:32 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - May 3, 2019) - The Securities and Exchange Commission today charged a New Hampshire-based company and its former CEO with misleading investors about the company’s ability to supply “sapphire glass” for Apple’s iPhones. The company, GT Advanced Technologies Inc., also is found to have misclassified more ...
Banking/Financial Services
2019-05-03 11:28 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - May 3, 2019) - The Securities and Exchange Commission voted to propose rule amendments to improve the information that investors receive regarding the acquisition and disposition of businesses.  The proposed amendments are also intended to facilitate more timely access to capital and to reduce complexity and ...
Banking/Financial Services
2019-05-03 9:51 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - May 2, 2019) - The Securities and Exchange Commission today announced that Adam S. Aderton has been named Co-Chief of the Division of Enforcement's Asset Management Unit, a national specialized unit that focuses on misconduct by investment advisers, investment companies, and private funds.  He succeeds Anthony Kelly, ...
Banking/Financial Services
2019-05-02 5:13 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 30, 2019) - The Securities and Exchange Commission today announced that its Office of the Advocate for Small Business Capital Formation will host a roundtable on May 6 to hear from small businesses and their investors.  The roundtable will celebrate the kickoff of National Small ...
Banking/Financial Services
2019-04-30 11:41 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 29, 2019) - The Securities and Exchange Commission today charged a New York City man with continuing a previously charged scheme, stealing millions of dollars from investors who were allegedly falsely promised their funds would be used for the purchase and resale of tickets to Broadway ...
Banking/Financial Services
2019-04-29 3:42 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 25, 2019) - The Securities and Exchange Commission today announced the inaugural members of the Small Business Capital Formation Advisory Committee. The Committee will hold its first meeting on Monday, May 6, 2019, at the SEC’s headquarters in Washington, D.C.The Committee was established by the SEC ...
Banking/Financial Services
2019-04-25 12:08 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 25, 2019) - The Securities and Exchange Commission today charged Indianapolis-based Celadon Group Inc. with an accounting fraud that allowed the truckload freight company to avoid disclosing substantial losses and misrepresent its financial condition.In a complaint filed in federal court in Indianapolis, the SEC charged ...
Banking/Financial Services
2019-04-25 11:04 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 24, 2019) - The Securities and Exchange Commission today announced the agenda for the forum that its staff is hosting on May 31 to discuss distributed ledger technology and digital assets.The 2019 FinTech Forum, which will be hosted by the SEC's Strategic Hub for Innovation and ...
Banking/Financial Services
2019-04-24 2:31 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 19, 2019) - The Securities and Exchange Commission today announced that Prosper Funding LLC will pay a $3 million penalty for miscalculating and materially overstating annualized net returns to retail and other investors.San Francisco-based Prosper is a marketplace lender that, through its website, offers and ...
Banking/Financial Services
2019-04-19 10:58 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 16, 2019) - The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) today announced the opening of registration for their 2019 National Compliance Outreach Program for Broker-Dealers, which will be held June 27, 2019, in Chicago.The program is designed to provide an open forum for regulators and ...
Banking/Financial Services
2019-04-16 12:45 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 15, 2019) - The Securities and Exchange Commission today announced that Sara Cortes and David P. Bartels have been named Deputy Chief Counsels of the Division of Investment Management. As Deputy Chief Counsels, Ms. Cortes and Mr. Bartels will join a leadership team and ...
Banking/Financial Services
2019-04-15 12:41 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 11, 2019) - The Securities and Exchange Commission today charged two former directors of investments at Woodbridge Group of Companies LLC for their roles in its massive Ponzi scheme. The defendants, California-based Ivan Acevedo and Dane R. Roseman, were separately arrested and charged by criminal authorities, along with Woodbridge ...
Banking/Financial Services
2019-04-11 9:31 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 11, 2019) - The Securities and Exchange Commission today released the agenda for the April 15 meeting of the Fixed Income Market Structure Advisory Committee.  The Commission established the advisory committee to provide a formal mechanism through which the Commission can receive advice and recommendations ...
Banking/Financial Services
2019-04-11 3:22 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 9, 2019) - The Securities and Exchange Commission today charged a former senior lawyer at SeaWorld Entertainment Inc. with insider trading based on nonpublic information that the company’s revenue would be better than anticipated for the second quarter of 2018.The SEC alleges that Paul B. ...
Banking/Financial Services
2019-04-09 3:40 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 8, 2019) - The Securities and Exchange Commission today unveiled a public service campaign to empower Main Street investors to take control of their financial future. The public service announcement (PSA) encourages investors to use the free tools and unbiased information
Banking/Financial Services
2019-04-08 10:04 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 3, 2019) - The Securities and Exchange Commission today charged the former CFO and two former employees of a publicly traded transportation company with fraud for manipulating the company’s financial results in order to meet earnings targets and projections.The SEC alleges that Peter Armbruster, the ...
Banking/Financial Services
2019-04-03 4:54 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 2, 2019) - The Securities and Exchange Commission today charged the founder and former chief executive of a Silicon Valley startup with defrauding investors in Jumio Inc., a private mobile payments company. The former CEO, Daniel Mattes, agreed to pay more than $17 million to ...
Banking/Financial Services
2019-04-02 4:35 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - April 1, 2019) - Are you prepared for your financial future?  That’s the question the Securities and Exchange Commission's Office of Investor Education and Advocacy (OIEA) is asking investors. To help investors get started with creating their own saving and investing plan, OIEA developed an investor ...
Banking/Financial Services
2019-04-01 4:55 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - March 29, 2019) - The Securities and Exchange Commission today announced that Fresenius Medical Care AG & Co KGaA (FMC) has agreed to pay more than $231 million to resolve parallel SEC and U.S. Department of Justice investigations related to its violations of the Foreign Corrupt ...
Banking/Financial Services
2019-03-29 12:19 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - March 29, 2019) - The Securities and Exchange Commission and the United Kingdom (UK) Financial Conduct Authority (FCA) have today reaffirmed their commitment to continue close cooperation and information sharing in the event of the UK’s withdrawal from the European Union (EU).As evidence of their long-standing ...
Banking/Financial Services
2019-03-29 11:39 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - March 28, 2019) - The Securities and Exchange Commission today charged the former controller of a New York-based not-for-profit college with defrauding municipal securities investors by fraudulently concealing the college’s deteriorating finances.According to the SEC’s complaint, in recent years, the College of New Rochelle came under ...
Banking/Financial Services
2019-03-28 7:10 PM ET | Newsfile SEC Press Digest