Cboe Global Markets, Inc. (Cboe: CBOE) has welcomed the announcement by the Securities and Exchange Commission (SEC) that its Division of Trading and Markets will host a two-day roundtable covering market data and access on October 25 and 26, 2018. We applaud the SEC for hosting a roundtable on industry market data and we look…
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The Securities and Exchange Commission (SEC) has announced that SG Americas Securities LLC will pay more than $800,000 to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs), predominantly by its predecessor entity. In its order against SG Americas, a registered broker-dealer and subsidiary of Paris-based Société Générale S.A., the SEC found that…
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The Securities and Exchange Commission (SEC) has announced that it has awarded nearly $4 million to an overseas whistleblower whose tip led it to open an investigation and whose extensive assistance helped it bring a successful enforcement action. Whistleblowers, whether they are located in the U.S. or abroad, provide a valuable service to investors and…
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The Securities and Exchange Commission (SEC) has announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the appointment of a receiver. A SEC complaint unsealed yesterday alleges that Kevin B.…
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The Securities and Exchange Commission (SEC) has announced that SeaWorld Entertainment Inc. and its former CEO have agreed to pay more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the company’s reputation and business. SeaWorld’s former vice president of communications also agreed to settle…
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The Securities and Exchange Commission (SEC) has announced that Convergex Execution Solutions LLC, now known as Cowen Execution Services LLC, will pay $2.75 million to settle charges that the broker-dealer firm provided the SEC with incomplete and deficient securities trading information known as “blue sheet data.” According to the SEC’s order, for nearly four years…
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The Securities and Exchange Commission (SEC) has announced that it has charged a New Jersey-based broker with misusing his access to customers’ brokerage accounts to enrich himself and family members at the expense of his customers, many of whom had entrusted him with their retirement accounts. The SEC uncovered the alleged fraud with data analysis…
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The Securities and Exchange Commission (SEC) has announced that Connecticut-based United Technologies Corporation will pay $13.9 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by making illicit payments in its elevator and aircraft engine businesses. According to the SEC’s order, United Technologies subsidiary Otis Elevator Co. made unlawful payments to…
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The Securities and Exchange Commission (SEC) has announced that TokenLot LLC, a self-described “ICO Superstore,” and its owners will settle charges that they acted as unregistered broker-dealers. This is the SEC’s first case charging unregistered broker-dealers for selling digital tokens after the SEC issued The DAO Report in 2017 cautioning that those who offer and…
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The Securities and Exchange Commission (SEC) has informed the public that it has charged two brokers for recommending excessive levels of trading that were costly for retail customers but lucrative for the brokers. In separate complaints filed in federal court in Manhattan on Friday, the SEC alleges that Florida resident Emil Botvinnik and New York…
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