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 Charges BGC Financial for Failure to Preserve Documents and Maintain Accurate Books and RecordsWashington, D.C.--(Newsfile Corp. - July 17, 2018) - The Securities and Exchange Commission today announced that New York-based broker-dealer BGC Financial has agreed to pay a $1.25 million penalty to settle charges that it failed to preserve audio files sought by the SEC and inaccurately recorded travel, entertainment, and other ...
2018-07-17 11:54 AM ET | Newsfile SEC Press Digest -
SEC Charges Oil Company CEO, Board Member With Hiding Personal Loans
Washington, D.C.--(Newsfile Corp. - July 16, 2018) - The Securities and Exchange Commission today charged the former CEO of Energy XXI Ltd. with hiding more than $10 million in personal loans that he obtained from company vendors and a candidate for Energy XXI’s board. At the time of the alleged ...
2018-07-16 1:23 PM ET | Newsfile SEC Press Digest -
SEC Files Charges in Busted Microcap Schemes
Washington, DC--(Newsfile Corp. - July 13, 2018) - The Securities and Exchange Commission has charged a stock promoter and four others involved in an alleged series of microcap fraud schemes that were foiled by FBI undercover work and an SEC trading suspension.According to the SEC’s complaint filed in federal court ...
2018-07-13 5:45 PM ET | Newsfile SEC Press Digest -
SEC Issues Agenda for July 16 Meeting of the Fixed Income Market Structure Advisory Committee
Washington, D.C.--(Newsfile Corp. - July 11, 2018) - The Securities and Exchange Commission today released the agenda for the July 16 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 ...
2018-07-11 12:50 PM ET | Newsfile SEC Press Digest -
SEC Files Additional Charges in Fitbit Stock Manipulation Scheme
Washington, D.C.--(Newsfile Corp. - July 11, 2018) - The Securities and Exchange Commission today filed fraud charges against a second defendant in connection with a scheme to manipulate the price of Fitbit securities through false regulatory filings. According to the SEC's complaint, Mark E. Burns purchased Fitbit call options just ...
2018-07-11 10:22 AM ET | Newsfile SEC Press Digest -
Former CEO and CFO of ITT Barred and Ordered to Pay Penalties
Washington, DC--(Newsfile Corp. - July 6, 2018) - The Securities and Exchange Commission today announced settlements with two former senior executives of ITT Educational Services Inc., which the SEC charged hid its true financial condition from investors. This resolution successfully concludes the SEC’s case, which was scheduled to begin trial ...
2018-07-06 5:23 PM ET | Newsfile SEC Press Digest -
SEC Charges Credit Suisse With FCPA Violations
Washington, D.C.--(Newsfile Corp. - July 5, 2018) - The Securities and Exchange Commission today announced that Credit Suisse Group AG will pay approximately $30 million to resolve SEC charges that it obtained investment banking business in the Asia-Pacific region by corruptly influencing foreign officials in violation of Foreign Corrupt Practices ...
2018-07-05 11:15 AM ET | Newsfile SEC Press Digest -
SEC Charges Attorney and Law Firm Business Manager With Illegal Sales of UBI Blockchain Internet Stock
Washington, DC--(Newsfile Corp. - July 2, 2018) - The Securities and Exchange Commission today charged two men alleged to have profited from illegal sales of stock of a company claiming to have a blockchain-related business.According to the SEC’s complaint, attorney T.J. Jesky and his law firm’s business affairs manager, Mark ...
2018-07-02 5:38 PM ET | Newsfile SEC Press Digest -
SEC Charges KBR for Inflating Key Performance Metric
Washington, DC--(Newsfile Corp. - July 2, 2018) - The Securities and Exchange Commission today charged global engineering and construction company KBR Inc. for inflating a key performance metric known as work in backlog. KBR agreed to pay a $2.5 million penalty to settle the SEC’s charges.According to the Commission’s order, ...
2018-07-02 5:33 PM ET | Newsfile SEC Press Digest -
SEC Chairman Clayton Invites Main Street Investors to Tell Us About Their Investor Experience
Washington, D.C.--(Newsfile Corp. - June 29, 2018) - Securities and Exchange Commission Chairman Jay Clayton is inviting Main Street investors from around the country to ‘Tell Us’ about their investor experience through roundtable discussions in several cities. In these roundtables, Main Street investors will be able to speak directly with ...
2018-06-29 5:10 PM ET | Newsfile SEC Press Digest -
SEC Charges Morgan Stanley in Connection With Failure to Detect or Prevent Misappropriation of Client Funds
Washington, D.C.--(Newsfile Corp. - June 29, 2018) - The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney (MSSB) has agreed to pay a $3.6 million penalty and to accept certain undertakings for its failure to protect against its personnel misusing or misappropriating funds from client accounts. The ...
2018-06-29 5:01 PM ET | Newsfile SEC Press Digest -
SEC Charges New York-Based Firm and Supervisors for Failing to Supervise Brokers Who Defrauded Customers
Washington, D.C.--(Newsfile Corp. - June 29, 2018) - The Securities and Exchange Commission today charged New York-based broker-dealer Alexander Capital L.P. and two of its managers for failing to supervise three brokers who made unsuitable recommendations to investors, “churned” accounts, and made unauthorized trades that resulted in substantial losses to ...
2018-06-29 1:28 PM ET | Newsfile SEC Press Digest -
SEC Celebrates Lesbian, Gay, Bisexual and Transgender Pride Month
Washington DC--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission this week concluded its month of special events and guest speakers – at its Washington, D.C. headquarters, as well as in regional offices around the country – in honor of Lesbian, Gay, Bisexual and Transgender (LGBT) Pride ...
2018-06-28 3:53 PM ET | Newsfile SEC Press Digest -
SEC Approves Final and Proposed Rules in Latest Open Meeting
Washington DC--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission today voted on several final rules and rule proposals that together represent material progress toward many Commission priorities.“Over the past year, I have been increasingly impressed by the breadth of expertise at the SEC, and the diversity ...
2018-06-28 3:51 PM ET | Newsfile SEC Press Digest -
SEC Proposes Whistleblower Rule Amendments
Washington DC--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission today voted to propose amendments to the rules governing its whistleblower program. The whistleblower program was established in 2010 to incentivize individuals to report high-quality tips to the Commission and help the agency detect wrongdoing and better ...
2018-06-28 3:49 PM ET | Newsfile SEC Press Digest -
SEC Adopts Targeted Changes to Public Liquidity Risk Management Disclosure
Washington, D.C.--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission today adopted amendments to public liquidity-related disclosure requirements for certain open-end funds. Under the amendments, funds would discuss in their annual or semi-annual shareholder report the operation and effectiveness of their liquidity risk management programs. This requirement ...
2018-06-28 1:12 PM ET | Newsfile SEC Press Digest -
SEC Proposes New Approval Process for Certain Exchange-Traded Funds
Washington, D.C.--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission today voted to propose a new rule and form amendments intended to modernize the regulatory framework for exchange-traded funds (ETFs), by establishing a clear and consistent framework for the vast majority of ETFs operating today. ETFs that ...
2018-06-28 1:09 PM ET | Newsfile SEC Press Digest -
SEC Adopts Inline XBRL for Tagged Data
Washington, D.C.--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission today voted to adopt amendments to eXtensible Business Reporting Language (XBRL) requirements for operating companies and funds. The amendments are intended to improve the quality and accessibility of XBRL data. The amendments, which will go into effect in ...
2018-06-28 1:06 PM ET | Newsfile SEC Press Digest -
Former Equifax Manager Charged With Insider Trading
Washington, D.C.--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission today charged a former Equifax manager with insider trading in advance of the company’s September 2017 announcement of a massive data breach that exposed Social Security numbers and other personal information of approximately 148 million U.S. customers. ...
2018-06-28 11:22 AM ET | Newsfile SEC Press Digest -
SEC and CFTC Announce Approval of New MOU
Washington, D.C.--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) announced today that the two agencies have approved a Memorandum of Understanding (MOU) that will help ensure continued coordination and information sharing between the two agencies.The MOU updates and enhances ...
2018-06-28 11:21 AM ET | Newsfile SEC Press Digest -
SEC Charges Credit Ratings Analyst and Two Friends with Insider Trading
Washington, D.C.--(Newsfile Corp. - June 26, 2018) - The Securities and Exchange Commission today charged a credit ratings agency employee with tipping two friends about The Sherwin-Williams Co.’s confidential plans to acquire The Valspar Corp., which he learned of through his work. The SEC also charged the two friends with ...
2018-06-26 1:37 PM ET | Newsfile SEC Press Digest -
Wells Fargo Advisors Settles SEC Charges for Improper Sales of Complex Financial Products
Washington DC--(Newsfile Corp. - June 25, 2018) - The Securities and Exchange Commission today announced that Wells Fargo Advisors LLC agreed to settle charges of misconduct in the sale of financial products known as market-linked investments, or MLIs, to retail investors. According to the order, the SEC found that Wells ...
2018-06-25 4:24 PM ET | Newsfile SEC Press Digest -
Paul G. Cellupica Named Deputy Director-Chief Counsel of the Division of Investment Management
Washington, D.C.--(Newsfile Corp. - June 21, 2018) - The Securities and Exchange Commission announced today that Paul G. Cellupica has been named Chief Counsel of the Division of Investment Management, and will continue serving as the Division's Deputy Director.Mr. Cellupica served in a number of capacities in the Division of ...
2018-06-21 10:10 PM ET | Newsfile SEC Press Digest -
SEC Shuts Down $102 Million Ponzi Scheme
Washington, DC--(Newsfile Corp. - June 19, 2018) - The Securities and Exchange Commission today filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S.According to the SEC’s complaint, the defendants defrauded more than 600 investors through ...
2018-06-19 5:18 PM ET | Newsfile SEC Press Digest -
Investors, Innovation, and Performance Top SEC's Draft Strategic Plan
Washington, D.C.--(Newsfile Corp. - June 19, 2018) - The Securities and Exchange Commission today published a draft strategic plan that focuses on investors, innovation, and performance as the top strategic goals in coming years. The SEC is seeking public comment on the proposed draft that will guide the SEC’s priorities through ...
2018-06-19 2:05 PM ET | Newsfile SEC Press Digest