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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 Proposes Offering Reforms for Business Development Companies and Registered Closed-End FundsWashington, D.C.--(Newsfile Corp. - March 20, 2019) - The Securities and Exchange Commission today voted to propose rule amendments to implement certain provisions of the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act. The proposal would improve access to capital and facilitate investor communications by ...
Banking/Financial Services
2019-03-20 7:27 PM ET | Newsfile SEC Press Digest -
SEC Adopts Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure
Washington, D.C.--(Newsfile Corp. - March 20, 2019) - The Securities and Exchange Commission today voted to adopt amendments to modernize and simplify disclosure requirements for public companies, investment advisers, and investment companies. These amendments are expected to benefit investors by eliminating outdated and unnecessary disclosure and making it easier for them ...
Banking/Financial Services
2019-03-20 7:26 PM ET | Newsfile SEC Press Digest -
Justin C. Jeffries Named Associate Regional Director for Enforcement in Atlanta Office
Washington, D.C.--(Newsfile Corp. - March 18, 2019) - The Securities and Exchange Commission today announced that Justin C. Jeffries has been named the Associate Regional Director for enforcement in the Atlanta Regional Office. Mr. Jeffries succeeds Aaron Lipson, who left the agency in December 2018. In his new role, Mr. ...
Banking/Financial Services
2019-03-18 7:31 PM ET | Newsfile SEC Press Digest -
SEC Charges Registered Investment Adviser and Former Chief Operating Officer With Defrauding Client
Washington, D.C.--(Newsfile Corp. - March 15, 2019) - The Securities and Exchange Commission today charged Talimco LLC, a registered investment adviser, and Grant Gardner Rogers, the former chief operating officer of the firm, with manipulating the auction of a commercial real estate asset on behalf of one client for the ...
Banking/Financial Services
2019-03-15 4:46 PM ET | Newsfile SEC Press Digest -
SEC Staff to Hold Fintech Forum to Discuss Distributed Ledger Technology and Digital Assets
Washington, D.C.--(Newsfile Corp. - March 15, 2019) - The Securities and Exchange Commission today announced that its staff will host a public forum focusing on distributed ledger technology (DLT) and digital assets on May 31, 2019. The forum is being organized by the agency’s Strategic Hub for Innovation and Financial Technology ...
Banking/Financial Services
2019-03-15 11:23 AM ET | Newsfile SEC Press Digest -
SEC Charges Volkswagen, Former CEO With Defrauding Bond Investors During "Clean Diesel" Emissions Fraud
Washington, D.C.--(Newsfile Corp. - March 15, 2019) - The Securities and Exchange Commission today charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while making a series of deceptive claims ...
Banking/Financial Services
2019-03-15 6:58 AM ET | Newsfile SEC Press Digest -
Jason J. Burt Named Associate Regional Director for Enforcement in SEC's Denver Office
Washington, D.C.--(Newsfile Corp. - March 14, 2019) - The Securities and Exchange Commission today announced that Jason J. Burt has been named the Associate Regional Director for enforcement in the SEC's Denver Regional Office. Mr. Burt succeeds Kurt Gottschall, who became Regional Director of the SEC's Denver office in November 2018.Mr. Burt ...
Banking/Financial Services
2019-03-14 4:23 PM ET | Newsfile SEC Press Digest -
Wedbush Settles Failure to Supervise Charge
Washington, D.C.--(Newsfile Corp. - March 13, 2019) - The Securities and Exchange Commission announced today that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding. According to the SEC’s March 2018 order instituting ...
Banking/Financial Services
2019-03-13 4:44 PM ET | Newsfile SEC Press Digest -
SEC Announces March 28 Meeting of Investor Advisory Committee
Washington, D.C.--(Newsfile Corp. - March 12, 2019) - The Securities and Exchange Commission today announced the agenda for the March 28 meeting of its Investor Advisory Committee. The meeting will begin at 9 a.m. ET in the Multipurpose Room at SEC headquarters at 100 F Street, N.E., Washington, D.C. and ...
Banking/Financial Services
2019-03-12 5:51 PM ET | Newsfile SEC Press Digest -
Fee Rate Advisory #2 for Fiscal Year 2019
Washington, D.C.--(Newsfile Corp. - March 12, 2019) - The Securities and Exchange Commission today announced that starting on April 16, 2019, the fee rates applicable to most securities transactions will be set at $20.70 per million dollars.Consequently, each SRO will continue to pay the Commission a rate of $13.00 ...
Banking/Financial Services
2019-03-12 5:36 PM ET | Newsfile SEC Press Digest -
SEC Charges Lumber Liquidators With Fraud
Washington, D.C.--(Newsfile Corp. - March 12, 2019) - The Securities and Exchange Commission today announced charges against Lumber Liquidators Holdings Inc. for making fraudulent misstatements to investors. The charges stem from Lumber Liquidators’ false public statements in response to media allegations that the company was selling laminate flooring that contained ...
Banking/Financial Services
2019-03-12 12:12 PM ET | Newsfile SEC Press Digest -
SEC Share Class Initiative Returning More Than $125 Million to Investors
Washington, D.C.--(Newsfile Corp. - March 11, 2019) - The Securities and Exchange Commission today announced settled charges against 79 investment advisers who will return more than $125 million to clients, with a substantial majority of the funds going to retail investors. The actions stem from the SEC’s Share Class Selection ...
Banking/Financial Services
2019-03-11 3:33 PM ET | Newsfile SEC Press Digest -
Mobile TeleSystems Settles FCPA Violations
Washington, D.C.--(Newsfile Corp. - March 6, 2019) - The Securities and Exchange Commission today announced that Russian telecommunications provider Mobile TeleSystems PJSC (MTS) will pay $100 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan.According to the SEC’s order, MTS bribed ...
Banking/Financial Services
2019-03-06 7:45 PM ET | Newsfile SEC Press Digest -
BB&T to Return More Than $5 Million to Retail Investors and Pay Penalty Relating to Directed Brokerage Arrangements
Washington, D.C.--(Newsfile Corp. - March 5, 2019) - The Securities and Exchange Commission today announced that BB&T Securities has agreed to return more than $5 million to retail investors and pay a $500,000 penalty to settle charges that a firm it acquired misled its advisory clients into believing they were ...
Banking/Financial Services
2019-03-05 3:18 PM ET | Newsfile SEC Press Digest -
SEC Celebrates African American History Month with Presentation by Award-Winning Filmmaker
Washington, D.C.--(Newsfile Corp. - March 1, 2019) - The Securities and Exchange Commission celebrated African American History Month with events in its Regional Offices and a presentation by scholar and award-winning filmmaker Dr. Henry Louis Gates, Jr. to discuss his latest documentary series, “Reconstruction: America After the Civil War,” at ...
Banking/Financial Services
2019-03-01 4:11 PM ET | Newsfile SEC Press Digest -
SEC Names Gabriel Benincasa As Its First Chief Risk Officer
Washington, D.C.--(Newsfile Corp. - February 28, 2019) - The Securities and Exchange Commission today announced that Gabriel Benincasa has been named the Commission’s first Chief Risk Officer. This position was created by SEC Chairman Jay Clayton to strengthen the agency’s risk management and cybersecurity efforts.As Chief Risk Officer, Mr. Benincasa will ...
Banking/Financial Services
2019-02-28 3:50 PM ET | Newsfile SEC Press Digest -
SEC Modifies Timing for Filing Non-Public Form N-PORT Data to Align With Its Approach to Data Management and Cybersecurity
Washington, D.C.--(Newsfile Corp. - February 27, 2019) - The Commission today modified the submission deadlines for registered investment companies filing non-public monthly reports on Form N-PORT. Form N-PORT is a new form for reporting both public and non-public fund portfolio holdings to the Commission in a structured data format. As a ...
Banking/Financial Services
2019-02-27 10:30 PM ET | Newsfile SEC Press Digest -
SEC Names Vanessa Countryman Acting Secretary
Washington, D.C.--(Newsfile Corp. - February 26, 2019) - The Securities and Exchange Commission today announced that Vanessa Countryman has been named Acting Secretary. Ms. Countryman will replace Brent Fields, who is stepping down as Secretary effective March 11, 2019, to accept a position in the Commission's Division of Investment Management.For ...
Banking/Financial Services
2019-02-26 5:54 PM ET | Newsfile SEC Press Digest -
Brent J. Fields Named Associate Director in the Division of Investment Management
Washington, D.C.--(Newsfile Corp. - February 26, 2019) - The Securities and Exchange Commission today announced that Brent J. Fields has been named Associate Director of Disclosure Review and Accounting in the Division of Investment Management.Mr. Fields is a 23-year SEC veteran who has served as Secretary of the Commission ...
Banking/Financial Services
2019-02-26 5:51 PM ET | Newsfile SEC Press Digest -
SEC Names S.P. Kothari as Chief Economist and Director of the Division of Economic and Risk Analysis
Washington, D.C.--(Newsfile Corp. - February 26, 2019) - The Securities and Exchange Commission today announced that S.P. Kothari has been named Chief Economist and Director of the agency’s Division of Economic and Risk Analysis (DERA). Dr. Chyhe Becker, who has served as DERA’s Acting Director while the SEC completed its ...
Banking/Financial Services
2019-02-26 12:13 PM ET | Newsfile SEC Press Digest -
SEC Halts South Florida Alternative Investments Scheme Targeting Retail Investors
Washington, D.C.--(Newsfile Corp. - February 26, 2019) - The Securities and Exchange Commission today announced fraud charges and an asset freeze against the operators of a South Florida-based investment fund scheme, one of whom has a prior felony conviction and is on parole after nearly 20 years in prison.The SEC filed ...
Banking/Financial Services
2019-02-26 11:58 AM ET | Newsfile SEC Press Digest -
SEC Names James P. McNamara as Chief Human Capital Officer
Washington, D.C.--(Newsfile Corp. - February 21, 2019) - The Securities and Exchange Commission today announced that James P. McNamara has been named the agency’s Chief Human Capital Officer (CHCO) and Director of the Office of Human Resources (OHR). Mr. McNamara has served as Acting CHCO since April 2018. As CHCO, ...
Banking/Financial Services
2019-02-21 2:58 PM ET | Newsfile SEC Press Digest -
Giles Cohen Named Acting Chief Counsel, Office of the Chief Accountant
Washington, D.C.--(Newsfile Corp. - February 21, 2019) - The Securities and Exchange Commission today announced that Giles Cohen has been named Acting Chief Counsel, Office of the Chief Accountant (OCA). Mr. Cohen joined the SEC in 2005 as senior counsel in the Division of Enforcement, and later served as counsel ...
Banking/Financial Services
2019-02-21 2:58 PM ET | Newsfile SEC Press Digest -
SEC Charges Broker-Dealer and Transfer Agent in Microcap Shell Factory Fraud
Washington, D.C.--(Newsfile Corp. - February 20, 2019) - The Securities and Exchange Commission today announced charges against a broker-dealer, a transfer agent, and three individuals for their roles in the creation of over a dozen undisclosed “blank check” companies from 2009 to 2014. In its complaint, the SEC alleges that broker-dealer ...
Banking/Financial Services
2019-02-20 6:20 PM ET | Newsfile SEC Press Digest -
Company Settles Unregistered ICO Charges After Self-Reporting to SEC
Washington, D.C.--(Newsfile Corp. - February 20, 2019) - The Securities and Exchange Commission today charged Gladius Network LLC with conducting an unregistered initial coin offering (ICO), which the company self-reported to the SEC. According to the SEC’s order, Gladius conducted an ICO in late 2017, after the Commission had ...
Banking/Financial Services
2019-02-20 12:06 PM ET | Newsfile SEC Press Digest