The Securities and Exchange Commission (SEC) announced that has barred a New York-based attorney from appearing or practicing before it and acting as an officer or director of a public company after finding that he made false and misleading statements in corporate filings. The SEC’s order finds that David Lubin committed fraud while serving as…
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The Securities and Exchange Commission (SEC) has announced that Christopher R. Hetner will continue to serve as Senior Advisor to Chairman Jay Clayton for Cybersecurity Policy, having previously served in this role under Chair Mary Jo White and Acting Chairman Michael Piwowar. Mr. Hetner will continue to coordinate efforts across the agency to address cybersecurity…
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The Securities and Exchange Commission (SEC) announced that has brought fraud charges against 13 individuals allegedly involved in two Long Island-based cold calling scams that bilked more than one hundred victims out of more than $10 million through high-pressure sales tactics and lies about penny stocks. The SEC alleges that the orchestrators of the scheme…
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The Securities and Exchange Commission (SEC) announced insider trading charges against a research scientist who allegedly searched the internet for “how sec detect unusual trade” before making a trade that the agency flagged as suspicious through data analysis. The SEC’s complaint alleges that Fei Yan loaded up on stocks and options in advance of two…
Read moreThe Securities and Exchange Commission (SEC) has charged two former accounting executives with overstating the financial performance of a large publicly-traded real estate investment trust (REIT) then known as American Realty Capital Properties (ARCP) by purposely inflating a key metric used by analysts and investors to assess the company. According to the SEC’s complaint, then-chief financial…
Read moreThe Securities and Exchange Commission (SEC) has adopted amendments to several Investment Advisers Act rules and the investment adviser registration and reporting form to enhance the reporting and disclosure of information by investment advisers. The amendments will improve the quality of information that investment advisers provide to investors and the Commission. SEC Chair Mary Jo White…
Read moreThe Securities and Exchange Commission (SEC) has announced penalties against 13 investment advisory firms found to have violated securities laws by spreading the false claims made by an investment management firm about its flagship product. An SEC enforcement sweep of investment advisers found that the 13 firms accepted and negligently relied upon claims by F-Squared…
Read moreThe Securities and Exchange Commission (SEC) has announced enforcement actions against 71 municipal issuers and other obligated persons for violations in municipal bond offerings. The SEC found that from 2011 to 2014, the 71 issuers and obligated persons sold municipal bonds using offering documents that contained materially false statements or omissions about their compliance with continuing…
Read moreThe three major exchange groups, financial exchanges operator Bats Global Markets Inc (BATS:BATS), Nasdaq and the New York Stock Exchange (NYSE), (collectively called ‘the exchanges’) have worked together to harmonize key functions of the U.S equity markets to increase resiliency during times of extreme volatility. In the coming weeks the exchanges will file with the Securities…
Read moreThe Securities and Exchange Commission (SEC) has announced that State Street Bank and Trust Company has agreed to pay $382.4 million in a global settlement for misleading mutual funds and other custody clients by applying hidden markups to foreign currency exchange trades. As part of its custody bank line of business, State Street safeguards clients’ financial assets…
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