The US watchdog stated that as a result, Morgan Stanley should have netted the long and short positions of both units together or across the entire broker-dealer and marked the orders as long or short based on that netting. The SEC considers that the failure to do that resulted in Morgan Stanley improperly made certain…
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Jane Norberg, Chief of the SEC’s Office of the Whistleblower said: Today’s award demonstrates the success of the program and the important role that company outsiders can play in halting ongoing violations. While many of our whistleblowers have been insiders, the agency also receives critical intelligence from company outsiders, like today’s whistleblower, whose swift reporting…
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Erin Schneider, Director of the SEC's San Francisco Regional Office commented: We allege that the Bohras repeatedly and systematically used Amazon's confidential information for their own gain. Employees with access to confidential, potentially market-moving corporate information may not use that information to enrich themselves, their friends, or their families. The US regulator’s complaint charges all…
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The SEC alleges that SoluTech and Pitruzzello misrepresented the investors’ interest in investing in SoluTech regarding SoluTech's and Pitruzzello's attempt to raise funds through a Series A stock offering. The US regulator found that SoluTech and Pitruzzello violated the Securities Act and without admitting or denying these findings, SoluTech and Pitruzzello consented to the requirements…
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Kristina Littman, Chief of the SEC Enforcement Division's Cyber Unit said: The securities registration and exemption framework is designed to ensure investor protection and access to material information, while also facilitating capital formation. Failure to follow this framework harms investors and our markets. This resolution allows us to return substantially all of Unikrn's assets to…
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So far, the agency has awarded over $520 million to 94 individuals for their help since the first award was issued in 2012. Payment of the awards is taken out of an investor protection fund set up by Congress. It is financed through monetary sanctions of security law violations paid to SEC. To be eligible…
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T.I’s social media manager, William Sparks, Jr. allegedly offered and sold FLiK tokens on T.I.’s social media accounts and two other people based in Atlanta, Chance White and Owen Smith, promoted SPARK tokens without disclosing they were promised compensation in return. Carolyn M. Welshhans, Associate Director in the Division of Enforcement commented: The federal securities…
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Michael Tecku, investor who lost a substantial amount of money in YieldStreet, said: The dream of YieldStreet was beautiful, but the reality is a nightmare. These investments were marketed as low risk asset-backed institutional investments run by experts with reasonable returns, but the truth is, there are no experts and there is no institution. It’s…
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So far, the agency has awarded over $510 million to 92 individuals for their help since the first award was issued in 2012. Payment of the awards is taken out of an investor protection fund set up by Congress. It is financed through monetary sanctions of security law violations paid to SEC. To be eligible…
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So far, the agency has awarded over $507 million to 90 individuals for their help since the first award was issued in 2012. Payment of the awards is taken out of an investor protection fund set up by Congress. It is financed through monetary sanctions of security law violations paid to SEC. To be eligible…
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