SEC Names Danae M. Serrano as Ethics Counsel

The Securities and Exchange Commission today announced that Danae M. Serrano has been named the agency’s Ethics Counsel. Ms. Serrano has served as Acting Ethics Counsel since December 2018. 

“Danae has been a strong and capable leader of the agency’s …

SEC Awards $50 Million to Two Whistleblowers

The Securities and Exchange Commission today announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.  One whistleblower received an award of $37 million…

SEC Names Jeffrey Dinwoodie Senior Counsel and Policy Advisor for Market and Activities-Based Risk

The Securities and Exchange Commission today announced that Jeffrey T. Dinwoodie has been appointed Senior Counsel and Policy Advisor for Market and Activities-Based Risk.  Chairman Jay Clayton has created this senior officer position to manage and coo…

Merrill Lynch to Pay Over $8 Million for Improper Handling of ADRs

The Securities and Exchange Commission today announced that Merrill Lynch, Pierce, Fenner & Smith Incorporated will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).

ADRs – U.S. securitie…

SEC Proposes Offering Reforms for Business Development Companies and Registered Closed-End Funds

The Securities and Exchange Commission today voted to propose rule amendments to implement certain provisions of the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act.  

The proposal would i…

SEC Adopts Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure

The Securities and Exchange Commission today voted to adopt amendments to modernize and simplify disclosure requirements for public companies, investment advisers, and investment companies. These amendments are expected to benefit investors by eliminat…

Justin C. Jeffries Named Associate Regional Director for Enforcement in Atlanta Office

The Securities and Exchange Commission today announced that Justin C. Jeffries has been named the Associate Regional Director for enforcement in the Atlanta Regional Office.  

Mr. Jeffries succeeds Aaron Lipson, who left the agency in December 2018.  …

SEC Charges Registered Investment Adviser and Former Chief Operating Officer With Defrauding Client

The Securities and Exchange Commission today charged Talimco LLC, a registered investment adviser, and Grant Gardner Rogers, the former chief operating officer of the firm, with manipulating the auction of a commercial real estate asset on behalf of on…

SEC Staff to Hold Fintech Forum to Discuss Distributed Ledger Technology and Digital Assets

The Securities and Exchange Commission today announced that its staff will host a public forum focusing on distributed ledger technology (DLT) and digital assets on May 31, 2019.  The forum is being organized by the agency’s Strategic Hub for Innovatio…

SEC Charges Volkswagen, Former CEO With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud

The Securities and Exchange Commission today charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while mak…

Jason J. Burt Named Associate Regional Director for Enforcement in SEC’s Denver Office

The Securities and Exchange Commission today announced that Jason J. Burt has been named the Associate Regional Director for enforcement in the SEC’s Denver Regional Office. Mr. Burt succeeds Kurt Gottschall, who became Regional Director of the SEC’s D…

Wedbush Settles Failure to Supervise Charge

The Securities and Exchange Commission announced today that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding. 

According to the SEC’s Mar…