Latest Regulatory Announcements

Washington, D.C.--(Newsfile Corp. - February 26, 2020) - The Securities and Exchange Commission today announced that G. Jeffrey Boujoukos, the Director of its Philadelphia Regional Office, will leave the agency at the end of the month after nearly 11 years of service.Mr. Boujoukos has served at the helm of the SEC’s Philadelphia ...
Banking/Financial Services
2020-02-26 3:45 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 25, 2020) - The Securities and Exchange Commission today announced the opening of registration for its compliance outreach program’s national seminar for investment companies and investment advisers.  The event is intended to help Chief Compliance Officers (CCOs) and other senior personnel at investment companies and ...
Banking/Financial Services
2020-02-25 3:27 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 24, 2020) - The Securities and Exchange Commission today announced that it updated its Public Alert: Unregistered Soliciting Entities (PAUSE) list by adding 25 soliciting entities and four fictitious regulators. Additionally, the SEC is announcing enhancements to the PAUSE website, where the SEC provides the ...
Banking/Financial Services
2020-02-24 5:57 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 21, 2020) - The Securities and Exchange Commission today charged California-based Wells Fargo & Co. for misleading investors about the success of its core business strategy at a time when it was opening fake accounts for unknowing customers and selling unnecessary products that went unused. Wells ...
Banking/Financial Services
2020-02-21 4:36 PM ET | Newsfile SEC Press Digest

Washington D.C.--(Newsfile Corp. - February 19, 2020) - The Securities and Exchange Commission today announced settled charges against blockchain technology startup Enigma MPC for conducting an unregistered offering of securities in the form of an initial coin offering (ICO). Enigma, based in San Francisco and Israel, has agreed to return ...
Banking/Financial Services
2020-02-19 11:54 AM ET | Newsfile SEC Press Digest

Washington D.C.--(Newsfile Corp. - February 19, 2020) - The Securities and Exchange Commission announced charges against alcohol producer Diageo plc for failing to make required disclosures of known trends relating to the shipments of unneeded products by its North American subsidiary to distributors. Diageo has agreed to pay $5 million to ...
Banking/Financial Services
2020-02-19 10:12 AM ET | Newsfile SEC Press Digest

Washington D.C.--(Newsfile Corp. - February 18, 2020) - The Securities and Exchange Commission today announced an emergency enforcement action and a temporary restraining order and asset freeze against Florida-based private real estate firm EquiAlt LLC, its CEO Brian Davison, and its Managing Director Barry Rybicki, in connection with an allegedly ...
Banking/Financial Services
2020-02-18 11:58 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 14, 2020) - The Securities and Exchange Commission today proposed to modernize the infrastructure for the collection, consolidation, and dissemination of market data for exchange-listed national market system (NMS) stocks. The proposal would update and expand the content of NMS market data to better meet the ...
Banking/Financial Services
2020-02-14 7:28 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 13, 2020) - The Securities and Exchange Commission today announced that Nancy Sumption will serve as Chairman Jay Clayton's Senior Advisor for Cybersecurity Policy. In this role, Ms. Sumption will coordinate efforts across the agency to address cybersecurity policy, engage with external stakeholders on ...
Banking/Financial Services
2020-02-13 5:20 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 11, 2020) - The Securities and Exchange Commission today filed charges against an Ohio-based businessman who allegedly orchestrated a digital asset scheme that defrauded approximately 150 investors, including many physicians.The SEC alleges that Michael W. Ackerman, along with two business partners, raised at least $33 ...
Banking/Financial Services
2020-02-11 4:51 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 10, 2020) - The Securities and Exchange Commission today announced that Paul A. Montoya has been named Associate Regional Director for Enforcement in the Chicago Regional Office.  Mr. Montoya succeeds Robert J. Burson, who retired from the agency in October 2019.Mr. Montoya will now oversee ...
Banking/Financial Services
2020-02-10 12:42 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 7, 2020) - The Securities and Exchange Commission's Investor Advisory Committee will hold a public meeting on Feb. 27.  The meeting will begin at 9:30 a.m. ET in the Multipurpose Room at SEC headquarters at 100 F Street, N.E., Washington, D.C., and is open to the public. The meeting will ...
Banking/Financial Services
2020-02-07 4:45 PM ET | Newsfile SEC Press Digest

Washington D.C.--(Newsfile Corp. - February 6, 2020) - The Securities and Exchange Commission today announced that ABN AMRO Clearing Chicago LLC will pay more than $586,000 to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).ADRs are U.S. securities that represent foreign shares of a foreign company and ...
Banking/Financial Services
2020-02-06 1:27 PM ET | Newsfile SEC Press Digest

Washington D.C.--(Newsfile Corp. - February 6, 2020) - The Securities and Exchange Commission today released the agenda for the Feb. 10 meeting of the Fixed Income Market Structure Advisory Committee (FIMSAC). The Commission established the FIMSAC to provide a formal mechanism through which the Commission can receive advice and recommendations on fixed ...
Banking/Financial Services
2020-02-06 10:42 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - February 4, 2020) - Yesterday evening, jurors in Boston federal court returned a verdict finding that Lexington, Massachusetts restauranteur Charlie Chen engaged in illegal insider trading in advance of five earnings announcements of Lexington-based company Vistaprint, N.V.The SEC's evidence at trial showed that Chen, who was ...
Banking/Financial Services
2020-02-04 1:35 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 31, 2020) - On Wednesday, Jan. 29, the Securities and Exchange Commission charged a Pennsylvania man with defrauding Amish and Mennonite community members by making false claims about the use of their funds and guaranteed returns.According to the SEC’s complaint, Philip E. Riehl provided accounting ...
Banking/Financial Services
2020-01-31 1:03 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 30, 2020) - The Securities and Exchange Commission today announced that it has voted to propose amendments to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K. The proposed amendments would eliminate duplicative disclosures and modernize and enhance Management's Discussion and Analysis disclosures for ...
Banking/Financial Services
2020-01-30 4:42 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 30, 2020) - Five federal financial regulatory agencies on Thursday invited public comment on a proposal to modify regulations implementing the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds – known as “covered funds.” Since the regulations ...
Banking/Financial Services
2020-01-30 3:09 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 28, 2020) - The Securities and Exchange Commission today released the agenda for the Tuesday, Feb. 4 meeting of its Small Business Capital Formation Advisory Committee. During the meeting, the committee will continue to explore funding gaps that impede growth opportunities for entrepreneurs and job creators. To help analyze ...
Banking/Financial Services
2020-01-28 2:10 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 28, 2020) - The Securities and Exchange Commission today announced that Ray McInerney has been named Freedom of Information Act (FOIA) Officer in the agency’s Office of FOIA Services. This office promotes transparency in government by making SEC records available to the public and providing a timely ...
Banking/Financial Services
2020-01-28 11:09 AM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 27, 2020) - The Securities and Exchange Commission today announced charges against a New York-based investment adviser for misleading investors about the management of risk in a mutual fund. Catalyst Capital Advisors LLC (CCA) and its President and Chief Executive Officer, Jerry Szilagyi, agreed to pay a combined ...
Banking/Financial Services
2020-01-27 4:45 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 27, 2020) - The Securities and Exchange Commission Commission's Office of Compliance Inspections and Examinations (OCIE) today issued examination observations related to cybersecurity and operational resiliency practices taken by market participants.The observations highlight certain approaches taken by market participants in the areas of governance and risk managemen
Banking/Financial Services
2020-01-27 2:39 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 24, 2020) - Two annual SEC staff reports released today highlight the important work of the Office of Credit Ratings in examining and monitoring nationally recognized statistical rating organizations (NRSROs). The reports indicate that the NRSROs made certain improvements in response to the staff's examinations and ...
Banking/Financial Services
2020-01-24 3:12 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 24, 2020) - The Securities and Exchange Commission today charged a California-based couple with orchestrating a nearly billion-dollar Ponzi scheme involving alternative energy tax credits.According to the SEC's complaint, Jeffrey and Paulette Carpoff raised approximately $910 million from 17 investors between 2011 and 2018 by offering securities ...
Banking/Financial Services
2020-01-24 2:48 PM ET | Newsfile SEC Press Digest

Washington, D.C.--(Newsfile Corp. - January 23, 2020) - The Securities and Exchange Commission today announced that it will host a March 10 conference to focus on municipal securities, which are predominantly owned by Main Street investors and help finance important public projects like schools, roads and utilities.The conference is entitled ...
Banking/Financial Services
2020-01-23 5:50 PM ET | Newsfile SEC Press Digest