Merrill Lynch Charged With Gatekeeping Failures in the Unregistered Sales of Securities

The Securities and Exchange Commission today announced settled charges against Merrill Lynch, Pierce, Fenner & Smith Inc. for its failure to perform required gatekeeping functions in the unregistered sales of securities on behalf of a China-based issue…

NYSE to Pay $14 Million Penalty for Multiple Violations

The Securities and Exchange Commission today announced that it charged the New York Stock Exchange and two affiliated exchanges with regulatory failures in connection with multiple episodes, including several disruptive market events.  The charges aros…

SEC Charges Unregistered Broker for Illegally Brokering Sales of EB-5 Securities

The Securities and Exchange Commission today charged a New York-based company with illegally brokering dozens of investments by foreign nationals seeking U.S. residency. 

Between April 2014 and March 2017, Edwin Shaw LLC solicited foreign nationals to…

SEC Celebrates African American History Month

The Securities and Exchange Commission this week concluded its month of celebrations, events, and remembrances – at its Washington, D.C. headquarters as well as in regional offices around the country –in honor of African American History Month. With th…

SEC Charges U.K. Brokerage Firm, Investment Manager, CEO, and Others for Manipulative Trading in U.S. Microcap Stocks

The Securities and Exchange Commission today announced securities fraud charges against a U.K.-based broker-dealer and its investment manager in connection with manipulative trading in the securities of HD View 360 Inc., a U.S.-based microcap issuer.  …

SEC Files Charges Seeking to Halt Recidivist and Associates in Scheme to Defraud Small Businesses

The Securities and Exchange Commission today charged three-time recidivist Steven J. Muehler with operating an unregistered broker-dealer, facilitating an unregistered securities offering, and defrauding small businesses, while promising to help them r…

SEC Charges Ameriprise With Overcharging Retirement Account Customers for Mutual Fund Shares

The Securities and Exchange Commission today announced that a Minnesota-based broker-dealer and investment adviser has agreed to settle charges for recommending and selling higher-fee mutual fund shares to retail retirement account customers and for fa…

SEC Announces Agenda for March 8 Investor Advisory Committee Meeting

The Securities and Exchange Commission today announced the agenda for the March 8 meeting of its Investor Advisory Committee. The meeting will begin at 9:30 a.m. in the Multipurpose Room at SEC headquarters at 100 F Street, NE, Washington, D.C. and is …

SEC Votes to Modify Compliance Date for Open-End Fund Liquidity Classification

The Securities and Exchange Commission today voted to extend by six months the deadline by which open-end funds must comply with certain elements of the Commission’s liquidity risk management program rule. 

The new compliance date will provide funds a…

SEC Charges Former Bitcoin-Denominated Exchange and Operator With Fraud

The Securities and Exchange Commission today charged a former bitcoin-denominated platform and its operator with operating an unregistered securities exchange and defrauding users of that exchange.  The SEC also charged the operator with making false a…

SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures

Yesterday, the Securities and Exchange Commission voted unanimously to approve a statement and interpretive guidance to assist public companies in preparing disclosures about cybersecurity risks and incidents.

“I believe that providing the Commission’…

SEC Obtains Bars and Suspensions Against Individuals and Accounting Firm in Shell Factory Scheme

The Securities and Exchange Commission today announced charges against three Israeli residents, a Washington, D.C. attorney, and an Israeli auditor and his Maryland-based accounting firm for their roles in a fraudulent scheme in the creation of numerou…