News
- Daniel R. Gregus Named Director of Chicago Office
The Securities and Exchange Commission today announced that Daniel R. Gregus has been named Director of the Chicago Regional Office, where he has served as acting co-director since June. Mr. Gregus is a 28-year veteran of the SEC and has held leadership…
Nov 15, 2021 | 14:00 EST
- Entrepreneurship in Rural and Under-Resourced Areas on Agenda for Small Business Capital Formation Advisory Committee Meeting
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its virtual meeting on Tuesday, Nov. 16, when it plans to explore ways to foster entrepreneurship and capital access in…
Nov 10, 2021 | 15:06 EST
- SEC Issues Awards Totaling More Than $15 Million to Two Whistleblowers
The Securities and Exchange Commission today announced awards of more than $12.5 million and $2.5 million to two whistleblowers whose information and assistance led to a successful SEC enforcement action. The first whistleblower alerted Commission staff…
Nov 10, 2021 | 13:08 EST
- Registration of Two Digital Tokens Halted
The Securities and Exchange Commission today instituted proceedings against American CryptoFed DAO LLC, a Wyoming-based organization, halting the effectiveness of the company’s registration of two digital tokens as securities. In the SEC’s order…
Nov 10, 2021 | 11:40 EST
- SEC Charges Partner at Global Consulting Firm With Insider Trading
The Securities and Exchange Commission today charged Puneet Dikshit, a partner at a global management consulting firm, with illegally trading in advance of a corporate acquisition by one of the firm’s clients in September. The SEC’s complaint, filed in…
Nov 10, 2021 | 08:50 EST
- SEC Charges Exchange-Traded Product and Its General Partner With Disclosure Failures
The Securities and Exchange Commission today charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission…
Nov 08, 2021 | 16:35 EST
- SEC Appoints New Chairperson and Board Members to the Public Company Accounting Oversight Board
The Securities and Exchange Commission today announced the appointments of Erica Y. Williams as Chairperson and Christina Ho, Kara M. Stein, and Anthony (Tony) C. Thompson as Board members of the Public Company Accounting Oversight Board (PCAOB). Duane…
Nov 08, 2021 | 16:00 EST
- Ahmed Abonamah Named Director of Office of Credit Ratings
The Securities and Exchange Commission today announced that Ahmed Abonamah has been named Director of the agency’s Office of Credit Ratings, where he has served as Acting Director since October 2020. “Ahmed already has proven to be a qualified and…
Nov 08, 2021 | 15:00 EST
- SEC Approves PCAOB Rule to Establish A Framework for Determinations Under the Holding Foreign Companies Accountable Act
The Securities and Exchange Commission today announced that it has approved the Public Company Accounting Oversight Board’s (PCAOB) Rule 6100, Board Determinations Under the Holding Foreign Companies Accountable Act. Rule 6100 will establish a framework…
Nov 05, 2021 | 14:50 EST
- Nicole Creola Kelly Named Chief of SEC Whistleblower Office
The Securities and Exchange Commission today announced the appointment of Nicole Creola Kelly as Chief of the SEC’s Office of the Whistleblower. Ms. Kelly, who goes by Cree, is currently Senior Special Counsel in the Office of the General Counsel and…
Nov 05, 2021 | 14:00 EST
- SEC Wins Jury Trial: Hedge Fund Adviser Found Liable for Securities Fraud
Jurors in Boston federal court today returned a verdict in the Securities Exchange Commission’s favor against a hedge fund adviser and his investment advisory firm. Gregory Lemelson and Massachusetts-based Lemelson Capital Management LLC were…
Nov 05, 2021 | 12:55 EST
- SEC Updates Electronic Filing Requirements
The Securities and Exchange Commission today published proposed amendments to update electronic filing requirements. The SEC currently permits and sometimes requires certain forms to be filed or submitted in paper format. The proposed rule and form…
Nov 04, 2021 | 14:30 EST
- SEC Obtains Emergency Relief in Case Charging Claims Aggregator and Principals with Multi-Million Dollar Fraud
The Securities and Exchange Commission today announced it charged a New Jersey "claims aggregator" – a firm that submits claims on behalf of its clients to administrators tasked with returning settlement funds to harmed investors – and its three…
Nov 04, 2021 | 09:46 EST
- SEC Charges Newport Beach Company and its Principals with Operating a $13.5 Million Ponzi-Like Scheme
The Securities and Exchange Commission today announced that it has charged BNZ, a Newport Beach, California-based company, and its co-founders and co-managers Brett Barber and Louis Zimmerle, for fraudulently raising $13.5 million from more than 100…
Oct 29, 2021 | 15:08 EST
- SEC Awards More Than $2 Million to Whistleblower for Successful Related Action
The Securities and Exchange Commission today announced an award of more than $2 million to a whistleblower who provided information that led to a successful related action by the U.S. Department of Justice. The whistleblower previously received an award…
Oct 29, 2021 | 12:20 EST
- SEC Charges Fixed Income Clearing Corp. With Having Inadequate Risk Management Policies
The Securities and Exchange Commission today announced that Fixed Income Clearing Corporation (FICC), a clearing agency, has agreed to pay an $8 million penalty to settle SEC charges that it failed to have adequate risk management policies within its…
Oct 29, 2021 | 08:30 EST
- Former Public Affairs Director John Nester to Retire from SEC
The Securities and Exchange Commission today announced that John Nester, formerly the Director of the Office of Public Affairs, is retiring from the agency at the end of this month after nearly 25 years of SEC service. Since April, Mr. Nester has…
Oct 28, 2021 | 15:04 EST
- SEC Charges Financial Adviser With Stealing Investor Funds to Pay Off Credit Cards, Buy Gold Coins
The Securities and Exchange Commission today charged a former New Jersey-based broker and investment adviser representative with stealing nearly $3 million from his advisory clients and brokerage customers, which he used to buy gold coins and other…
Oct 28, 2021 | 11:55 EST
- Post-SPAC Music Streaming Company Reaches $38.8 Million Settlement in Ongoing Fraud Action
The Securities and Exchange Commission today announced a $38.8 million settlement of charges against Akazoo S.A., a purported music streaming business based in Greece, for allegedly defrauding investors out of tens of millions of dollars in connection…
Oct 27, 2021 | 16:15 EST
- SEC Issues Agendas for October 28 and November 3 Meetings of the Asset Management Advisory Committee
Oct 26, 2021 | 16:25 EST
- SEC Obtains Asset Freeze and Other Relief in Halting Penny Stock Scheme on Twitter
The Securities and Exchange Commission today announced that it filed an emergency action, and obtained an injunction and asset freeze, against Steven M. Gallagher for allegedly committing securities fraud through a long running scheme to manipulate…
Oct 26, 2021 | 15:58 EST
- Credit Suisse to Pay Nearly $475 Million to U.S. and U.K. Authorities to Resolve Charges in Connection with Mozambican Bond Offerings
Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the Securities and Exchange Commission, for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA…
Oct 19, 2021 | 14:30 EST
- SEC Staff Releases Report on Equity and Options Market Structure Conditions in Early 2021
The Securities and Exchange Commission today published a Staff Report on Equity and Options Market Structure Conditions in Early 2021, which focuses on the January 2021 trading activity of GameStop Corp (GME), the most famous of the "meme…
Oct 18, 2021 | 16:30 EST
- SEC Awards $40 Million to Two Whistleblowers
The Securities and Exchange Commission today announced awards of approximately $40 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action. The first whistleblower, whose information caused…
Oct 15, 2021 | 11:28 EST
- SEC Reopens Comment Period for Listing Standards for Recovery of Erroneously Awarded Compensation
The Securities and Exchange Commission today reopened the comment period on proposed rules for listing standards for the recovery of erroneously awarded compensation. “I support today’s action to reopen comment on the Dodd-Frank Act rule regarding…
Oct 14, 2021 | 13:00 EST