Press Releases

Industrial and Commercial Bank of China Affiliate to Pay More Than $42 Million for Improper Handling of ADRs

The Securities and Exchange Commission today announced that Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), a wholly-owned subsidiary of Industrial and Commercial Bank of China Limited, will pay more than $42 million to settle …

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SEC Announces 2019 Government-Business Forum to Be Held in Omaha

The Securities and Exchange Commission today announced that it will host the 38th annual Government-Business Forum on August 14, 2019, in Omaha, Nebraska.  The Forum provides a platform to highlight perceived impediments to capital formation, culminati…

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SEC Updates List of Firms Using Inaccurate Information to Solicit Investors

The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 11 soliciting entities, four impersonators of genuine firms, and ni…

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SEC Updates List of Firms Using Inaccurate Information to Solicit Investors

The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 11 soliciting entities, four impersonators of genuine firms, and ni…

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David Peavler Named Director of Fort Worth Office

The Securities and Exchange Commission today announced that David L. Peavler has been named Director of the Fort Worth Regional Office.

Mr. Peavler previously served for nearly 15 years in senior Division of Enforcement roles in the Fort Worth Regiona…

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SEC Adds Fraud Charges Against Purported Cryptocurrency Company Longfin, CEO, and Consultant

The Securities and Exchange Commission today filed a new fraud action against Longfin Corp. and its CEO for falsifying the company’s revenue and, together with a former Longfin consultant, for fraudulently securing the company’s listing on Nasdaq. The …

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SEC Adopts Rules and Interpretations to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships With Financial Professionals

The Securities and Exchange Commission today voted to adopt a package of rulemakings and interpretations designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers, bringing the legal…

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Marshall Gandy Named Co-Head of SEC’s Investment Adviser/Investment Company Examination Program

The Securities and Exchange Commission today announced that Marshall Gandy has been named Co-National Associate Director of the Investment Adviser/Investment Company examination program in the Office of Compliance Inspections and Examinations (OCIE). 

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SEC Charges Issuer With Conducting $100 Million Unregistered ICO

The Securities and Exchange Commission today sued Kik Interactive Inc. for conducting an illegal $100 million securities offering of digital tokens.  The SEC charges that Kik sold the tokens to U.S. investors without registering their offer and sale as…

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Hedge Fund Adviser to Pay $5 Million for Compliance Failures Related to Valuation of Fund Assets

The Securities and Exchange Commission today announced that a private fund manager in the mortgage-backed securities space has agreed to pay a $5 million penalty to settle charges stemming from compliance deficiencies that contributed to the firm’s fai…

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