SEC Halts South Florida Alternative Investments Scheme Targeting Retail Investors

The Securities and Exchange Commission today announced fraud charges and an asset freeze against the operators of a South Florida-based investment fund scheme, one of whom has a prior felony conviction and is on parole after nearly 20 years in prison.
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Giles Cohen Named Acting Chief Counsel, Office of the Chief Accountant

The Securities and Exchange Commission today announced that Giles Cohen has been named Acting Chief Counsel, Office of the Chief Accountant (OCA). 

Mr. Cohen joined the SEC in 2005 as senior counsel in the Division of Enforcement, and later served as …

SEC Names James P. McNamara as Chief Human Capital Officer

The Securities and Exchange Commission today announced that James P. McNamara has been named the agency’s Chief Human Capital Officer (CHCO) and Director of the Office of Human Resources (OHR).  Mr. McNamara has served as Acting CHCO since April 2018. …

SEC Charges Broker-Dealer and Transfer Agent in Microcap Shell Factory Fraud

The Securities and Exchange Commission today announced charges against a broker-dealer, a transfer agent, and three individuals for their roles in the creation of over a dozen undisclosed “blank check” companies from 2009 to 2014. 

In its complaint, t…

Company Settles Unregistered ICO Charges After Self-Reporting to SEC

The Securities and Exchange Commission today charged Gladius Network LLC with conducting an unregistered initial coin offering (ICO), which the company self-reported to the SEC.  

According to the SEC’s order, Gladius conducted an ICO in late 2017, af…

SEC Proposes to Expand “Test-the-Waters” Modernization Reform to All Issuers

The Securities and Exchange Commission voted to propose an expansion of a popular modernization reform that would permit investor views about potential offerings to be taken into account at an earlier stage in the process than is the case today. The ne…

SEC Files Charges in Elaborate Microcap Stock Fraud

The Securities and Exchange Commission today announced charges against four individuals and related businesses for their roles in two microcap frauds and unlawful securities offerings.  In sum, the alleged illegal transactions resulted in proceeds of m…

SEC Charges Cognizant and Two Former Executives With FCPA Violations

Cognizant Technology Solutions Corporation has agreed to pay $25 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA), and two of the company’s former executives were charged for their roles in facilitating the payment of…

SEC Extends Comment Period for Rulemaking Proposal Regarding Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts

The Securities and Exchange Commission today announced that it is extending for one month the comment period on the proposed rulemaking to amend rules and forms to help investors make informed investment decisions regarding variable annuity and variabl…

SEC Charges Former Senior Attorney at Apple With Insider Trading

The Securities and Exchange Commission today filed insider trading charges against a former senior attorney at Apple whose duties included executing the company’s insider trading compliance efforts.    

The SEC’s complaint alleges that Gene Daniel Lev…

Deloitte Japan Charged With Violating Auditor Independence Rules

The Securities and Exchange Commission today announced that Deloitte Touche Tohmatsu LLC (Deloitte Japan) will pay $2 million to settle charges that it issued audit reports for an audit client at a time when dozens of its employees maintained bank acco…

SEC Charges Founder of Online Gaming Company Defrauding Investors

The Securities and Exchange Commission today charged Robert Alexander with fraudulently raising approximately $9 million from more than 50 individuals by selling investments in Kizzang LLC, a purported online gaming business.

According to the SEC’s co…