Tag: SEC

FTX
December 13, 2022 BY Steffy Bogdanova

Samuel Bankman-Fried charged by SEC for defrauding investors, gets arrested in the Bahamas on criminal charges

The agency also pointed out as a key problem that Bankman-Fried kept the funds of Alameda and FTX mixed up together. The regulator alleges that he used that to make undisclosed investments, luxurious real estate purchases, and large political donations. SEC Chair Gary Gensler commented: We allege that Sam Bankman-Fried built a house of cards…

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Whistleblower
December 13, 2022 BY Steffy Bogdanova

Whistleblower receives a $20 million award from SEC

Creola Kelly, Acting Chief of the SEC’s Office of the Whistleblower said: Whistleblowers may lead to the success of an enforcement matter by providing information that causes an investigation or examination to open or that meaningfully advances an existing investigation. Payment of the awards is taken out of an investor protection fund set up by…

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Whistleblower
November 29, 2022 BY Steffy Bogdanova

SEC gives a $20 million award to a whistleblower

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 for the award, a whistleblower needs to voluntarily provide the commission with reliable information that leads to successful enforcement action. The awards range…

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Whistleblower
November 01, 2022 BY Steffy Bogdanova

Whistleblower receives more than $10 million from SEC

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 for the award, a whistleblower needs to voluntarily provide the commission with reliable information that leads to successful enforcement action. The awards range…

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September 15, 2022 BY Steffy Bogdanova

SEC charges Loop Capital Markets in first case against broker-dealer municipal advisor violation

Furthermore, SEC discovered that Loop Capital did not maintain a system reasonably designed to supervise its municipal securities activities. The regulator noted that its procedures were inadequate, using insufficient methods to identify potential violations of the municipal advisor registration rules. LeeAnn Ghazil Gaunt, Chief of the Enforcement Division’s Public Finance Abuse Unit, said: The municipal…

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BNY Mellon Investment Adviser charged with omissions in ESG by SEC
September 13, 2022 BY Steffy Bogdanova

SEC announces charges against Oppenheimer & Co., BNY Mellon, TD Securities, and Jefferies

Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, said: I applaud the excellent work of the Division’s Public Finance Abuse Unit in bringing these first-ever actions in the $4 trillion municipal bond space. We encourage underwriters to examine their practices and to self-report any failures to us before we identify them ourselves. LeeAnn…

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Whistleblower
August 11, 2022 BY Steffy Bogdanova

Two whistleblowers receive over $16 million from SEC

The second whistleblower received over $3 million. They presented to the agency important new information during the course of the investigation. Creola Kelly, Chief of the SEC’s Office of the Whistleblower, said: The information and assistance provided by these two whistleblowers in helping to identify complex wrongdoing demonstrates the importance of the whistleblower program to…

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SEC fraud
August 02, 2022 BY Steffy Bogdanova

SEC issues charges on 11 people in a $300 million crypto pyramid scheme

Furthermore, SEC alleges that cease-and-desist actions by the Securities and Exchange Commission of the Philippines in September 2020 and by the Montana Commissioner of Securities and Insurance in March 2021 did not stop Forsage from operating and the defendants continued to promote the scheme while denying the claims in several YouTube videos. Carolyn Welshhans, Acting…

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