SEC and CFTC Announce Approval of New MOU

The Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) announced today that the two agencies have approved a Memorandum of Understanding (MOU) that will help ensure continued coordination and information sharing betw…

SEC Charges Credit Ratings Analyst and Two Friends with Insider Trading

The Securities and Exchange Commission today charged a credit ratings agency employee with tipping two friends about The Sherwin-Williams Co.’s confidential plans to acquire The Valspar Corp., which he learned of through his work.  The SEC also charged…

Wells Fargo Advisors Settles SEC Charges for Improper Sales of Complex Financial Products

The Securities and Exchange Commission today announced that Wells Fargo Advisors LLC agreed to settle charges of misconduct in the sale of financial products known as market-linked investments, or MLIs, to retail investors.  

According to the order, t…

Paul G. Cellupica Named Deputy Director—Chief Counsel of the Division of Investment Management

The Securities and Exchange Commission announced today that Paul G. Cellupica has been named Chief Counsel of the Division of Investment Management, and will continue serving as the Division’s Deputy Director.
  
Mr. Cellupica served in a number of cap…

SEC Shuts Down $102 Million Ponzi Scheme

The Securities and Exchange Commission today filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S.

According to the SEC’s complaint, the defendants…

Investors, Innovation, and Performance Top SEC’s Draft Strategic Plan

The Securities and Exchange Commission today published a draft strategic plan that focuses on investors, innovation, and performance as the top strategic goals in coming years. 
 
The SEC is seeking public comment on the proposed draft that will guide …

Merrill Lynch Admits to Misleading Customers about Trading Venues

The Securities and Exchange Commission today charged Merrill Lynch, Pierce, Fenner & Smith with misleading customers about how it handled their orders.  Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty.

Accor…

Daniel J. Wadley Named as Regional Director of Salt Lake Office

The Securities and Exchange Commission today named Daniel J. Wadley as Regional Director of its Salt Lake office.  Mr. Wadley succeeds Richard R. Best, whom the agency named Regional Director of its Atlanta office in January.

Mr. Wadley, who served as…

Maurya C. Keating Named an Associate Regional Director for Examinations in New York Regional Office

The Securities and Exchange Commission today announced that Maurya C. Keating has been named an Associate Regional Director for the Investment Adviser and Investment Company examination program in the agency’s New York Regional Office. She will join th…

SEC Charges Merrill Lynch for Failure to Supervise RMBS Traders

The Securities and Exchange Commission today announced that Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential Mortgage Backed Securities (RMBS…

SEC Names Sarah ten Siethoff Associate Director in the Division of Investment Management’s Rulemaking Office

The Securities and Exchange Commission today announced that Sarah G. ten Siethoff has been named the Associate Director for the Division of Investment Management’s Rulemaking Office.  As Associate Director, Ms. ten Siethoff will develop recommendations…

SEC Modernizes the Delivery of Fund Reports and Seeks Public Feedback on Improving Fund Disclosure

Yesterday, the Commission voted to improve the experience of investors who invest in mutual funds, ETFs and other investment funds.  In three related releases, the Commission provided a new, optional “notice and access” method for delivering fund share…