Tag: Securities and Exchange Commission

December 28, 2016 BY Valentina Kirilova

SEC charges lawyer with stealing investor money in EB-5 offerings

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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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 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 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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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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December 02, 2016 BY Valentina Kirilova

SEC charges Onix Capital LLC and Manager

The Securities and Exchange Commission (SEC) announced fraud charges and an asset freeze against Miami Beach-based asset management company Onix Capital LLC and owner Alberto Chang-Rajii, a Chilean national who fled the U.S. earlier this year. The SEC alleges that Chang and Onix Capital defrauded investors in promissory notes that “guaranteed” annual returns of 12% to…

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November 23, 2016 BY Valentina Kirilova

Wesley R. Bricker succeeds James Schnurr as SEC Chief Accountant

The Securities and Exchange Commission (SEC) has announced that Wesley R. Bricker will become the Chief Accountant and succeeds James Schnurr who plans to retire from the agency. Mr. Bricker has served as Deputy Chief Accountant for the accounting group since 2015 and Interim Chief Accountant since July 2016. As Chief Accountant, Mr. Bricker will…

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November 22, 2016 BY Valentina Kirilova

Trading and Markets Director Stephen Luparello leaves SEC

The Securities and Exchange Commission (SEC) has announced that Stephen Luparello, Director of the Division of Trading and Markets, will leave the agency by the first of the year. He was named director of the office in February 2014. Mr. Luparello has played a key role in enhancing the transparency and strengthening the integrity of…

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