The Securities and Exchange Commission and the UK Financial Conduct Authority Sign Updated Supervisory Cooperation Arrangements

The Securities and Exchange Commission and the United Kingdom (UK) Financial Conduct Authority (FCA) have today reaffirmed their commitment to continue close cooperation and information sharing in the event of the UK’s withdrawal from the European Unio…

SEC Charges College Official for Fraudulently Concealing Financial Troubles From Municipal Bond Investors

The Securities and Exchange Commission today charged the former controller of a New York-based not-for-profit college with defrauding municipal securities investors by fraudulently concealing the college’s deteriorating finances.

According to the SEC’…

Investment Adviser Charged With Stealing Millions From Private Fund

The Securities and Exchange Commission today revoked the registration of a Seattle area-based registered investment adviser and barred its principal from the securities industry for stealing money from a private fund the adviser managed. The remaining …

SEC Charges New Jersey Man With Fradulently Causing Advisory Firm to Overbill Clients

The Securities and Exchange Commission today filed charges against the former chief operating officer (COO) of a Commission-registered investment adviser for aiding and abetting the advisory firm’s actions to overbill its clients as part of a fraudulen…

SEC Names Danae M. Serrano as Ethics Counsel

The Securities and Exchange Commission today announced that Danae M. Serrano has been named the agency’s Ethics Counsel. Ms. Serrano has served as Acting Ethics Counsel since December 2018. 

“Danae has been a strong and capable leader of the agency’s …

SEC Awards $50 Million to Two Whistleblowers

The Securities and Exchange Commission today announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.  One whistleblower received an award of $37 million…

SEC Names Jeffrey Dinwoodie Senior Counsel and Policy Advisor for Market and Activities-Based Risk

The Securities and Exchange Commission today announced that Jeffrey T. Dinwoodie has been appointed Senior Counsel and Policy Advisor for Market and Activities-Based Risk.  Chairman Jay Clayton has created this senior officer position to manage and coo…

Merrill Lynch to Pay Over $8 Million for Improper Handling of ADRs

The Securities and Exchange Commission today announced that Merrill Lynch, Pierce, Fenner & Smith Incorporated will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).

ADRs – U.S. securitie…

SEC Proposes Offering Reforms for Business Development Companies and Registered Closed-End Funds

The Securities and Exchange Commission today voted to propose rule amendments to implement certain provisions of the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act.  

The proposal would i…

SEC Adopts Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure

The Securities and Exchange Commission today voted to adopt amendments to modernize and simplify disclosure requirements for public companies, investment advisers, and investment companies. These amendments are expected to benefit investors by eliminat…

Justin C. Jeffries Named Associate Regional Director for Enforcement in Atlanta Office

The Securities and Exchange Commission today announced that Justin C. Jeffries has been named the Associate Regional Director for enforcement in the Atlanta Regional Office.  

Mr. Jeffries succeeds Aaron Lipson, who left the agency in December 2018.  …

SEC Charges Registered Investment Adviser and Former Chief Operating Officer With Defrauding Client

The Securities and Exchange Commission today charged Talimco LLC, a registered investment adviser, and Grant Gardner Rogers, the former chief operating officer of the firm, with manipulating the auction of a commercial real estate asset on behalf of on…