Facebook to Pay $100 Million for Misleading Investors About the Risks It Faced From Misuse of User Data

The Securities and Exchange Commission today announced charges against Facebook Inc. for making misleading disclosures regarding the risk of misuse of Facebook user data.  For more than two years, Facebook’s public disclosures presented the risk of mis…

Emily Westerberg Russell Named Chief Counsel of Division of Trading and Markets

The Securities and Exchange Commission today announced that Emily Westerberg Russell has been named Chief Counsel of the Division of Trading and Markets. 

Ms. Russell has been a member of the division’s Office of Chief Counsel for a decade, and since …

SEC Awards Half-Million Dollars to Overseas Whistleblower

The Securities and Exchange Commission today announced a half-million dollar award to an overseas whistleblower whose expeditious reporting helped the Commission bring a successful enforcement action. 

“The Commission’s whistleblower award program has…

SEC Charges Engine Manufacturing Company Executives With Accounting Fraud

The Securities and Exchange Commission today charged the former chief executive officer of a Chicago-area engine manufacturing company and two former senior sales executives for their roles in an accounting fraud that allegedly overstated the publicly-…

SEC Charges Engine Manufacturing Company Executives With Accounting Fraud

The Securities and Exchange Commission today charged the former chief executive officer of a Chicago-area engine manufacturing company and two former senior sales executives for their roles in an accounting fraud that allegedly overstated the publicly-…

SEC Obtains Asset Freeze in Microcap Pump and Dump Scheme Targeting Elderly Retail Investors

The Securities and Exchange Commission today announced an emergency action charging two individuals with running a pump and dump scheme targeting retail investors. The SEC also obtained an emergency court order freezing the defendants’ assets.

Accordi…

SEC Charges Portfolio Manager with Mispricing Fund Investments

The Securities and Exchange Commission today announced settled administrative proceedings against Swapnil Rege, a North Brunswick, New Jersey portfolio manager and trader, for mispricing private fund investments, resulting in a large personal bonus.

A…

SEC Charges Portfolio Manager with Mispricing Fund Investments

The Securities and Exchange Commission today announced settled administrative proceedings against Swapnil Rege, a North Brunswick, New Jersey portfolio manager and trader, for mispricing private fund investments, resulting in a large personal bonus.

A…

SEC Retail Strategy Task Force to Host Roundtable on Combating Elder Investor Fraud

The Securities and Exchange Commission today announced that its Retail Strategy Task Force will host a roundtable on October 3 on combating elder investor fraud. The roundtable will focus on the types of fraudulent and manipulative schemes currently …

SEC Retail Strategy Task Force to Host Roundtable on Combating Elder Investor Fraud

The Securities and Exchange Commission today announced that its Retail Strategy Task Force will host a roundtable on October 3 on combating elder investor fraud. The roundtable will focus on the types of fraudulent and manipulative schemes currently …

Former REIT Manager and Executives to Settle SEC Charges for more than $60 Million

The Securities and Exchange Commission today charged AR Capital LLC, its founder Nicholas S. Schorsch, and its former CFO Brian Block with wrongfully obtaining millions of dollars in connection with two separate mergers between real estate investment t…

SEC and NASAA Explain Application of Securities Laws to Opportunity Zone Investments

The Securities and Exchange Commission and the North American Securities Administrators Association (NASAA) have issued a summary that explains the application of the federal and state securities laws to opportunity zone investments. The “opportunity z…