Latest Regulatory Announcements

Washington, D.C.--(Newsfile Corp. - October 16, 2019) - The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against 18 traders in a scheme to manipulate more than 3,000 U.S.-listed securities for over $31 million in illicit profits.The SEC alleges that the traders, who are primarily ...
Banking/Financial Services
2019-10-16 4:13 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 15, 2019) - The Securities and Exchange Commission today announced several teacher investment outreach efforts in connection with its Teachers Initiative.  These initiatives include the launch of a podcast series for public school educators, nationwide events for teachers, and the RISE 2.0 of California summit in ...
Banking/Financial Services
2019-10-15 2:53 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 15, 2019) - The Securities and Exchange Commission today announced that Domenick Migliorato, a former supervisor of the securities lending desk at Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), has agreed to settle charges for his supervisory failures involving the improper handling ...
Banking/Financial Services
2019-10-15 1:41 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 15, 2019) - The Securities and Exchange Commission today announced that Robert Burson, an Associate Regional Director of Enforcement in the Chicago Regional Office, is retiring after 29 years at the agency, all in the Chicago office.Mr. Burson, who is departing at the end of this ...
Banking/Financial Services
2019-10-15 11:39 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 11, 2019) - The Securities and Exchange Commission today announced that it has filed an emergency action and obtained temporary restraining order against two offshore entities conducting an alleged unregistered, ongoing digital token offering in the U.S. and overseas that has raised more than $1.7 ...
Banking/Financial Services
2019-10-11 5:04 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 11, 2019) - The Securities and Exchange Commission today announced the appointment of Rebekah Goshorn Jurata as a Board member of the Public Company Accounting Oversight Board (PCAOB) for a term ending October 24, 2024.The Sarbanes-Oxley Act of 2002 established the PCAOB to oversee the ...
Banking/Financial Services
2019-10-11 4:21 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 11, 2019) - The Securities and Exchange Commission today announced that Kathleen M. Hamm will leave the Public Company Accounting Oversight Board (PCAOB) after completing her term as a Board member. Ms. Hamm’s term began in January 2018 and expires later this month.“I would like to thank Kathleen ...
Banking/Financial Services
2019-10-11 3:41 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 11, 2019) - The SEC’s Office of Investor Education and Advocacy and Retail Strategy Task Force this week released new videos and Investor Alerts to help show investors what fraud looks like. Fraudsters will use every gimmick they can think of to get their hands ...
Banking/Financial Services
2019-10-11 12:33 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 9, 2019) - The Securities and Exchange Commission today announced the formation of its Asset Management Advisory Committee.The committee was formed to provide the Commission with diverse perspectives on asset management and related advice and recommendations. Topics the committee may address include trends and developments ...
Banking/Financial Services
2019-10-09 2:11 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 8, 2019) - Five federal financial regulatory agencies on Tuesday announced that they finalized revisions to simplify compliance requirements relating to the “Volcker rule.”  By statute, the Volcker rule generally prohibits banking entities from engaging in proprietary trading or investing in or sponsoring hedge funds ...
Banking/Financial Services
2019-10-08 4:39 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 8, 2019) - The Securities and Exchange Commission today announced that Katharine E. Zoladz has been named Associate Regional Director for enforcement in the Los Angeles Regional Office. Ms. Zoladz succeeds John Berry, who left the agency in July 2019. Ms. Zoladz will now oversee the ...
Banking/Financial Services
2019-10-08 1:52 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 2, 2019) - On October 1, 2019, a federal court judge entered final judgments against New York-based brokerage firm Lek Securities Corp. and Chief Executive Officer Sam Lek, who were charged by the Securities and Exchange Commission with facilitating manipulative U.S. trading by a Ukraine-based ...
Banking/Financial Services
2019-10-02 4:01 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 1, 2019) - The Securities and Exchange Commission today proposed to require an amendment to a national market system plan (NMS plan) that would establish or change a fee or other charge (Proposed Fee Change) to be subject to the standard procedure for NMS plan ...
Banking/Financial Services
2019-10-01 5:45 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - October 1, 2019) - The Securities and Exchange Commission today announced that during World Investor Week staff will participate in more than 50 events around the country encouraging individuals to start early to save and invest for their futures. SEC staff will also provide information on ...
Banking/Financial Services
2019-10-01 9:35 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - September 30, 2019) - The Securities and Exchange Commission today announced settled charges against blockchain technology company Block.one for conducting an unregistered initial coin offering of digital tokens (ICO) that raised the equivalent of several billion dollars over approximately one year.  The company agreed to settle ...
Banking/Financial Services
2019-09-30 6:43 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - September 30, 2019) - The Securities and Exchange Commission today charged SBB Research Group Inc., a Chicago-area hedge fund adviser and its two top executives with a multi-year fraud that inflated fund values.According to the SEC's complaint, SBB Chief Executive Officer Samuel Barnett founded the ...
Banking/Financial Services
2019-09-30 5:06 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - September 30, 2019) - The Securities and Exchange Commission today announced settled charges against 17 investment advisers for disclosure failures regarding their mutual fund share class selection practices. The firms include 16 advisers that self-reported as part of the Division of Enforcement’s Share Class Selection Disclosure Initiative and ...
Banking/Financial Services
2019-09-30 1:34 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - September 27, 2019) - The Securities and Exchange Commission today announced that two BMO advisers have agreed to pay over $37 million to settle charges regarding their failure to tell clients about certain aspects of how the advisers selected investments in their retail investment advisory program, known ...
Banking/Financial Services
2019-09-27 6:21 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - September 27, 2019) - The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 23 soliciting entities, two impersonators of genuine firms, and 12 bogus regulators.The SEC's list of soliciting entities ...
Banking/Financial Services
2019-09-27 1:55 PM ET | Newsfile SEC Press Digest

Washington D.C--(Newsfile Corp. - September 27, 2019) - The Securities and Exchange Commission today announced that Westport Fuels Systems, Inc., a Canadian clean fuel technology company headquartered in Vancouver, Canada, and its former chief executive officer, Nancy Gougarty, of Leesville, South Carolina, have agreed to pay more than $4.1 million ...
Banking/Financial Services
2019-09-27 1:54 PM ET | Newsfile SEC Press Digest

Washington D.C.--(Newsfile Corp. - September 27, 2019) - The Securities and Exchange Commission today charged Michigan-based automaker FCA US LLC, and its parent company, Fiat Chrysler Automobiles N.V., for misleading investors about the number of new vehicles sold each month to ...
Banking/Financial Services
2019-09-27 12:20 PM ET | Newsfile SEC Press Digest

Washington D.C.--(Newsfile Corp. - September 27, 2019) - The Securities and Exchange Commission today announced that Herbalife Nutrition Ltd.—a direct selling company with operations in over 90 countries— has agreed to pay $20 million to settle charges that it made false and misleading statements about its China business model in ...
Banking/Financial Services
2019-09-27 11:26 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - September 27, 2019) - The Securities and Exchange Commission today announced charges against Pennsylvania-based pharmaceutical company Mylan N.V. for accounting and disclosure failures relating to a Department of Justice (DOJ) probe into whether Mylan overcharged Medicaid by hundreds of millions of dollars for EpiPen, its largest ...
Banking/Financial Services
2019-09-27 10:44 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - September 26, 2019) - The Securities and Exchange Commission today announced that Quad/Graphics Inc., a Wisconsin-based digital and print marketing provider, has agreed to pay nearly $10 million to resolve charges that it violated the Foreign Corrupt Practice Act (FCPA) by engaging in multiple bribery schemes ...
Banking/Financial Services
2019-09-26 5:30 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - September 26, 2019) - The Securities and Exchange Commission Retail Strategy Task Force will host a roundtable on Oct. 3 on combating elder investor fraud. The roundtable will focus on the types of fraudulent and manipulative schemes currently targeting elder investors. The roundtable also will explore ...
Banking/Financial Services
2019-09-26 3:27 PM ET | Newsfile SEC Press Digest