The Securities and Exchange Commission (SEC) announced that General Counsel Anne K. Small will leave the agency later this month. Ms. Small has served as the SEC’s General Counsel since April 2013. As the agency’s chief legal officer, Ms. Small has provided counsel on virtually all of the legal and policy issues before the Commission.…
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The Securities and Futures Commission (SFC) has entered into a memorandum of understanding (MoU) with the U.S. Securities and Exchange Commission (SEC) providing for consultation, cooperation and exchange of information related to the supervision and oversight of regulated entities that operate on a cross-border basis in Hong Kong and the United States of America. The…
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The Securities and Exchange Commission (SEC) announced that General Motors (NYSE:GM) has agreed to pay a $1 million penalty to settle charges that deficient internal accounting controls prevented the company from properly assessing the potential impact on its financial statements of a defective ignition switch found in some vehicles. According to the SEC’s order, when…
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The Securities and Exchange Commission (SEC) announced that Michael J. Osnato Jr., Chief of the Enforcement Division’s Complex Financial Instruments Unit, is planning to leave the agency later this month. For the past three years, Mr. Osnato led the specialized unit of 45 attorneys and industry experts in offices across the country that investigate potential…
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The Securities and Exchange Commission (SEC) charged two New York-based brokers with fraudulently using an in-and-out trading strategy that was unsuitable for customers in order to generate hefty commissions for themselves. The SEC’s complaint alleges that Gregory T. Dean and Donald J. Fowler did no reasonable diligence to determine whether their investment strategy involving frequent…
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The Securities and Exchange Commission (SEC) announced an award of more than $5.5 million to a whistleblower who provided critical information that helped the SEC uncover an ongoing scheme. According to the SEC’s order, the whistleblower was employed at the company involved in the wrongdoing and reported the information directly to the SEC, which brought…
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The Securities and Exchange Commission (SEC) announced that a Florida-based businessman has agreed to settle charges that he misused investor funds intended to create U.S. jobs through the EB-5 Immigrant Investor Program. The SEC alleges that Jason Adam Ogden, the CEO of a pair of smoothie and frozen yogurt franchises called Juiceblendz and Yoblendz, formed…
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The Securities and Exchange Commission (SEC) charged a California-based attorney with defrauding investors seeking to participate in the EB-5 immigrant investor program, stealing their money to buy a yacht and prop up his other businesses. The SEC alleges that Emilio Francisco raised $72 million from investors in China solicited through his marketing firm PDC Capital…
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The Securities and Exchange Commission today named Timothy Husson Associate Director in the Division of Investment Management’s Risk and Examinations Office. As Associate Director, Dr. Husson will oversee the management and operations of key data analysis and examination projects and initiatives related to the asset management industry and provide guidance on complex financial and quantitative…
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The Securities and Exchange Commission today charged two men behind a phony day-trading firm with pocketing more than $1.4 million in deposits from hundreds of defrauded investors worldwide. The SEC alleges that Naris Chamroonrat of Bangkok, Thailand, recruited Adam L. Plumer of Las Vegas to help him lure investors to day-trade through an unregistered brokerage…
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