Latest Regulatory Announcements

Washington, D.C.--(Newsfile Corp. - August 16, 2019) - The Securities and Exchange Commission today announced that broker Cantor Fitzgerald & Co. will pay more than $647,000 and broker BMO Capital Markets Corporation will pay over $3.9 million to settle charges of improper handling of "pre-released" American Depositary Receipts (ADRs). With today's actions, the SEC ...
Banking/Financial Services
2019-08-16 2:52 PM ET | Newsfile SEC Press Digest

Washington D.C.--(Newsfile Corp. - August 15, 2019) - The Securities and Exchange Commission today charged 1 Global Capital LLC’s former chief financial officer, Alan G. Heide, with defrauding retail investors. The now bankrupt Florida-based cash advance company allegedly fraudulently raised more ...
Banking/Financial Services
2019-08-15 12:50 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 15, 2019) - The Securities and Exchange Commission today released a series of short educational videos designed to provide ordinary investors with basic information about choosing and working with a financial professional. The videos are now available at SEC.gov and Investor.gov/CRS.“Through my discussions w
Banking/Financial Services
2019-08-15 10:42 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 14, 2019) - Today, jurors in Atlanta federal court returned a verdict finding New Jersey securities broker Raymond J. Pirrello, Jr. liable for insider trading in advance of three merger and acquisition transactions.The SEC's evidence at trial showed that Pirrello received highly confidential nonpublic information about the ...
Banking/Financial Services
2019-08-14 5:09 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 14, 2019) - The Securities and Exchange Commission today charged Canaccord Genuity LLC, a broker-dealer headquartered in New York City, with enabling trading in dozens of thinly-traded securities without conducting the review required by the federal securities laws. According to the SEC's order, Canaccord published quotes and ...
Banking/Financial Services
2019-08-14 1:49 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 13, 2019) - The Securities and Exchange Commission announced fraud charges against a Brooklyn individual and two entities under his control who allegedly engaged in a fraudulent scheme to sell digital securities to investors and to manipulate the market for those securities.  On Aug. 12, 2019, ...
Banking/Financial Services
2019-08-13 1:48 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 12, 2019) - The Securities and Exchange Commission today charged an analyst at a large international investment bank with insider trading based on confidential information that he learned about Siris Capital Group's plans to acquire ...
Banking/Financial Services
2019-08-12 1:03 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 8, 2019) - The Securities and Exchange Commission today announced that it has voted to propose rule amendments to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make pursuant to Regulation S-K.  The proposed amendments are intended to update the ...
Banking/Financial Services
2019-08-08 10:22 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 8, 2019) - The Securities and Exchange Commission’s Investor Advisory Committee will meet telephonically on Sept. 5 at 11 a.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 ...
Banking/Financial Services
2019-08-08 3:31 PM ET | Newsfile SEC Press Digest

Securities and Exchange Commission Chairman Jay Clayton today announced an event for Main Street investors to be held in Chicago on Thursday, August 15.Chairman Clayton will participate in a roundtable with Main Street investors as part of the SEC’s ongoing investor engagement and education efforts. The roundtable will focus on ...
Banking/Financial Services
2019-08-05 4:30 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - August 1, 2019) - The Securities and Exchange Commission today charged Brixmor Property Group Inc., a publicly-traded real estate investment trust, and four former senior executives with fraud in connection with a scheme to manipulate a key non-GAAP metric relied on by analysts and investors to ...
Banking/Financial Services
2019-08-01 3:51 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 29, 2019) - The Securities and Exchange Commission today announced that Robert A. Cohen, Chief of the Division of Enforcement's Cyber Unit, will be leaving the agency in August after 15 years of service.Mr. Cohen is the first Chief of the Cyber Unit, created in ...
Banking/Financial Services
2019-07-29 1:42 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 25, 2019) - The Securities and Exchange Commission today released the agenda for the July 29 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 ...
Banking/Financial Services
2019-07-25 11:06 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 24, 2019) - The Securities and Exchange Commission today announced charges against Facebook Inc. for making misleading disclosures regarding the risk of misuse of Facebook user data.  For more than two years, Facebook’s public disclosures presented the risk of misuse of user data as merely ...
Banking/Financial Services
2019-07-24 8:28 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 23, 2019) - The Securities and Exchange Commission today announced that Emily Westerberg Russell has been named Chief Counsel of the Division of Trading and Markets. Ms. Russell has been a member of the division’s Office of Chief Counsel for a decade, and since 2011 has ...
Banking/Financial Services
2019-07-23 2:31 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 23, 2019) - The Securities and Exchange Commission today announced a half-million dollar award to an overseas whistleblower whose expeditious reporting helped the Commission bring a successful enforcement action. “The Commission’s whistleblower award program has reached an important milestone,” said Jane Norberg, Chief of the SEC’s ...
Banking/Financial Services
2019-07-23 2:27 PM ET | Newsfile SEC Press Digest

Seattle, Washington--(Newsfile Corp. - July 19, 2019) - The Securities and Exchange Commission today charged the former chief executive officer of a Chicago-area engine manufacturing company and two former senior sales executives for their roles in an accounting fraud that allegedly overstated the publicly-traded company’s revenues by almost $25 million.According ...
Banking/Financial Services
2019-07-19 1:00 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 18, 2019) - The Securities and Exchange Commission today announced an emergency action charging two individuals with running a pump and dump scheme targeting retail investors. The SEC also obtained an emergency court order freezing the defendants' assets.According to the SEC's complaint, Florida resident Garrett M. O'Rourke ...
Banking/Financial Services
2019-07-18 5:40 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 18, 2019) - The Securities and Exchange Commission today announced settled administrative proceedings against Swapnil Rege, a North Brunswick, New Jersey portfolio manager and trader, for mispricing private fund investments, resulting in a large personal bonus.According to the SEC's order, from June 2016 to April ...
Banking/Financial Services
2019-07-18 1:38 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 18, 2019) - The Securities and Exchange Commission today announced that its Retail Strategy Task Force will host a roundtable on October 3 on combating elder investor fraud. The roundtable will focus on the types of fraudulent and manipulative schemes currently targeting elder investors. The ...
Banking/Financial Services
2019-07-18 11:14 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 16, 2019) - The Securities and Exchange Commission today charged AR Capital LLC, its founder Nicholas S. Schorsch, and its former CFO Brian Block with wrongfully obtaining millions of dollars in connection with two separate mergers between real estate investment trusts (REITs) that were sponsored and ...
Banking/Financial Services
2019-07-16 3:41 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 15, 2019) - The Securities and Exchange Commission and the North American Securities Administrators Association (NASAA) have issued a summary that explains the application of the federal and state securities laws to opportunity zone investments. The "opportunity zone" program was established by the Tax Cuts and ...
Banking/Financial Services
2019-07-15 4:56 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 15, 2019) - The Securities and Exchange Commission today instituted two related enforcement actions against Nomura Securities International Inc., which has agreed to repay approximately $25 million to customers for its failure to adequately supervise traders in mortgage-backed securities.   The SEC orders find that Nomura ...
Banking/Financial Services
2019-07-15 10:57 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 12, 2019) - The Securities and Exchange Commission today charged an Arizona-based attorney and a Missouri-based agent of microcap shell companies with securities fraud and registration violations.According to the SEC's complaint, from February 2015 to April 2017, attorney William Scott Lawler engaged in schemes to ...
Banking/Financial Services
2019-07-12 5:50 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - July 12, 2019) - The Securities and Exchange Commission today announced that SEC staff have published a statement that encourages market participants to proactively manage their transition away from LIBOR and outlines several potential areas that may warrant increased attention during that time. It is expected that ...
Banking/Financial Services
2019-07-12 5:48 PM ET | Newsfile SEC Press Digest