Tag: SEC

sec whistleblower award
December 21, 2016 BY Valentina Kirilova

Oil-and-gas company SandRidge settles charges in whistleblower retaliation case

The Securities and Exchange Commission (SEC) announced that an oil-and-gas company has agreed to settle charges that it used illegal separation agreements and retaliated against a whistleblower who expressed concerns internally about how its reserves were being calculated. The SEC’s order found that Oklahoma City-based SandRidge Energy Inc. conducted multiple reviews of its separation agreements…

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December 20, 2016 BY Valentina Kirilova

SEC charges Morgan Stanley with customer protection rule violations

The Securities and Exchange Commission (SEC) today announced that Morgan Stanley & Co. LLC has agreed to pay $7.5 million to settle charges it used trades involving customer cash to lower the firm’s borrowing costs in violation of the SEC’s Customer Protection Rule. The Customer Protection Rule is intended to safeguard customers’ cash and securities…

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December 19, 2016 BY LeapRate Staff

SEC charges Platinum Funds founder Mark Nordlicht with defrauding investors

The U.S. Securities and Exchange Commission (SEC) today charged the founder of Platinum Partners Mark Nordlicht (pictured above, with former managing general partner Uri Landesman) and two of Platinum's flagship hedge fund advisory firms with conducting a fraudulent scheme to inflate asset values and illicitly move investor money to cover losses and liquidity problems. SEC…

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December 19, 2016 BY Valentina Kirilova

SEC charges gatekeepers in microcap frauds

Agency Releases White Paper on Risks of Penny Stock Investing The Securities and Exchange Commission (SEC) today barred several market participants from the penny stock industry for their roles in various sham initial public offerings (IPOs) of microcap stocks that defrauded investors. In one case, Newport Beach, California-based securities lawyer Michael J. Muellerleile authored false…

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sec building
December 13, 2016 BY Valentina Kirilova

SEC names Dr. Narahari Phatak Associate Director for Policy in the Division of Economic and Risk Analysis

The Securities and Exchange Commission (SEC) announced that Dr. Narahari Phatak has been named Associate Director for Policy in the Division of Economic and Risk Analysis (DERA). As Associate Director, Dr. Phatak will direct the development of economic analyses to support the Commission’s rulemaking and policy development activities. Dr. Phatak will oversee the four DERA…

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December 12, 2016 BY admin

SEC charges two New Jersey-based traders in $26 million stock manipulation scheme

The Securities and Exchange Commission today charged two New Jersey-based traders with manipulating more than 2,000 NYSE- and NASDAQ-traded stocks and reaping more than $26 million in profits from their successful trades. The SEC alleges that Joseph Taub and Elazar Shmalo utilized dozens of accounts at various brokerage firms to carry out their scheme undetected,…

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sec whistleblower award
December 12, 2016 BY Valentina Kirilova

SEC pays out another whistleblower award at $1million

The Securities and Exchange Commission (SEC) announced an award of more than $900,000 to a whistleblower whose tip enabled the SEC to bring multiple enforcement actions against wrongdoers. Jane Norberg, Chief of the SEC’s Office of the Whistleblower, commented: With the issuance of this second award in less than one week, we hope to continue…

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December 09, 2016 BY Valentina Kirilova

Enforcement Director Andrew J. Ceresney to leave SEC

The Securities and Exchange Commission (SEC) announced that Enforcement Director Andrew J. Ceresney will leave the agency by the end of the year. During his nearly four years as head of the agency’s largest division, Mr. Ceresney implemented approaches that strengthened the Division’s investigative and litigation practices and enhanced its effectiveness and impact. Under his…

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sec building
December 07, 2016 BY Valentina Kirilova

Division of Corporation Finance Director Keith Higgins to leave SEC

The Securities and Exchange Commission (SEC) announced that Keith F. Higgins, Director of the SEC’s Division of Corporation Finance, plans to leave the SEC in early January. Since joining the SEC in June 2013, Mr. Higgins led the Division’s implementation of significant rulemaking and other responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection…

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