SEC Releases
SEC Suspends Former BDO Accountants for Improperly “Predating” Audit Work Papers
The Securities and Exchange Commission today suspended three former BDO USA LLP accountants for their improper professional conduct during an audit of an exchange-listed insurance company.
According to the SEC’s order, BDO fell behind schedule while c…
Read MoreSEC’s New Strategic Plan Puts Investors, Innovation, and Performance at Top
The Securities and Exchange Commission today announced a new strategic plan to guide the agency’s work over the next four years with a primary focus on investors, innovation, and performance. The plan’s goals reflect the agency’s commitment to its longstanding mission while leveraging the opportunities and addressing the challenges that come from fast-evolving markets, products and services.
Our new strategic plan is a concise, straight-forward explanation of the goals that will guide us as our markets evolve. It is based on the core values that have motivated the women and men of the SEC for over 80 years, including, most importantly, serving the interests of our long term Main Street investors.
–SEC Chairman Jay Clayton
The SEC’s new strategic plan was published in accordance with the Government Performance and Results Modernization Act of 2010, which requires federal agencies to outline their missions, planned initiatives, and strategic goals for a four-year period.
Strategic Plan Summary
GOAL 1. Focus on the long-term interests of our Main Street investors.
The SEC will strive to better understand how a wider range of investors participate in the capital markets and how to reach them while tailoring policy initiatives with retail investors in mind. Initiatives under this goal will include modernizing disclosure and expanding investor choice.
GOAL 2. Recognize significant developments and trends in our evolving capital markets and adjust our efforts to ensure we are effectively allocating our resources.
Under this goal, the SEC will embrace innovation by analyzing market developments, evaluating existing rules and procedures, understanding the continually changing cyber-landscape and ensuring the appropriate resources are dedicated to each area.
GOAL 3. Elevate the SEC’s performance by enhancing our analytical capabilities and human capital development.
The SEC will invest in data and technology to leverage “the experience, knowledge, creativity, leadership and teamwork of the SEC’s staff and its leaders.” The agency is also committed to recruiting and retaining a diverse workforce with a wide range of skills and expertise.
SEC Reopens Comment Period for Capital, Margin, and Segregation Requirements for Security-Based Swap Dealers and Major Security-Based Swap Participants
The Securities and Exchange Commission today voted to reopen the comment period and request additional comment (including potential modifications to proposed rule language) on the proposed rules and amendments for capital, margin, and segregation requi…
Read MoreSEC Stops Fraudulent ICO That Falsely Claimed SEC Approval
The Securities and Exchange Commission today announced that it has obtained an emergency court order halting a planned initial coin offering (ICO), which backers falsely claimed was approved by the SEC. The order also halts ongoing pre-ICO sales by the…
Read MoreGary Goldsholle, Former Deputy Director, Current Senior Policy Adviser in the Division of Trading and Markets, to Leave the SEC
The Securities and Exchange Commission today announced that Gary Goldsholle, a senior policy adviser in the Division of Trading and Markets, will leave the agency on Oct. 12.
Mr. Goldsholle joined the SEC staff in 2015 as a deputy director in the Div…
Read MoreSEC Monitoring Impact of Hurricane Michael on Capital Markets
The Securities and Exchange Commission is closely monitoring the impact of Hurricane Michael on investors and capital markets.
“The dedicated staff of the SEC is preparing to provide support for market participants as Hurricane Michael approaches the…
Read MoreSEC Charges Real Estate Developer With Fraud in Project Tied to New Commuter Rail Station
The Securities and Exchange Commission today charged a Virginia real estate developer with skimming investor funds that were intended for use in purchasing an office building near the site of a planned commuter rail station on the Washington Metropolit…
Read MoreSEC Halts Microcap Fraud Scheme Orchestrated Through International Accounts
The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against two individuals and their companies in a scheme that generated more than $165 million of illegal sales of stock in at least 50 microcap companies….
Read MoreSEC to Focus on Empowering Main Street Investors for 2018 World Investor Week
The Securities and Exchange Commission today announced that empowering Main Street investors will be the SEC’s focus during World Investor Week, which takes place Oct. 1-7, 2018. SEC staff will emphasize both the basics of investing and savings as wel…
Read MoreSEC to Focus on Empowering Main Street Investors for 2018 World Investor Week
The Securities and Exchange Commission today announced that empowering Main Street investors will be the SEC’s focus during World Investor Week, which takes place Oct. 1-7, 2018. SEC staff will emphasize both the basics of investing and savings as wel…
Read MoreElon Musk Settles SEC Fraud Charges; Tesla Charged With and Resolves Securities Law Charge
The Securities and Exchange Commission announced today that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla, Inc., has agreed to settle the securities fraud charge brought by the SEC against him last week. The SEC also today charged Tesla wi…
Read MoreBrokerage Firm to Exit Penny Stock Deposit Business and Pay Penalty for Repeatedly Failing to Report Suspicious Trading
The Securities and Exchange Commission today announced settled charges against clearing firm COR Clearing LLC for failing to report suspicious sales of penny stock shares totaling millions of dollars. As part of the settlement, COR has agreed to exit …
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