SEC Shuts Down $345 Million Fraud and Obtains Asset Freeze

The Securities and Exchange Commission today announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the…

SEC Staff to Host Roundtable on Regulatory Approaches to Combating Retail Investor Fraud

The Securities and Exchange Commission announced today that its Division of Trading and Markets will host a roundtable on Sept. 26 on combating retail investor fraud. The Commission staff is interested in views from a broad range of market participants…

Biopharmaceutical Company, Executives Charged With Misleading Investors About Cancer Drug

The Securities and Exchange Commission today announced that a Boulder, Colorado-based biopharmaceutical company, its CEO, and its former CFO will pay more than $20 million in penalties to settle charges of misleading investors about the company’s devel…

SeaWorld and Former CEO to Pay More Than $5 Million to Settle Fraud Charges

The Securities and Exchange Commission today announced that SeaWorld Entertainment Inc. and its former CEO have agreed to pay more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on t…

SEC and NYU to Host Sept. 21 Forum on High-Frequency Trading and Liquidity Resiliency

The U.S. Securities and Exchange Commission’s Division of Economic and Risk Analysis and Division of Trading and Markets are partnering with New York University’s Salomon Center for the Study of Financial Institutions to bring together regulators, prac…

Mark Wolfe Named Associate Director in Office of Derivatives Policy and Trading Practices

The Securities and Exchange Commission today announced that Mark E. Wolfe has been named Associate Director of the Office of Derivatives Policy and Trading Practices in the agency’s Division of Trading and Markets. 

Mr. Wolfe spent nearly seven years …

SEC Charges Investment Advisers With Defrauding Retail Advisory Clients

The Securities and Exchange Commission today charged an Indianapolis-based investment advisory firm and its sole owner with selling approximately $13 million of high-risk securities to more than 120 advisory clients – many of whom are current or former…

Whistleblower Receives Award of Approximately $1.5 Million

The Securities and Exchange Commission today announced that a whistleblower has earned an award of more than $1.5 million.  The whistleblower provided the SEC with vital information and ongoing assistance that proved important to the overall success of…

SEC Charges Citigroup for Dark Pool Misrepresentations

The Securities and Exchange Commission today entered an order finding that Citigroup Global Markets Inc. misled users of a dark pool operated by one of its affiliates. 

The SEC’s order found that Citigroup misled users with assurances that high-freque…

SEC Monitoring Impact of Hurricane Florence on Capital Markets

The Securities and Exchange Commission is closely monitoring the impact of Hurricane Florence on investors and capital markets. 

“The SEC is keeping a close eye on the progress of Hurricane Florence and any effects it may have on investors and capital…

Broker-Dealer to Pay $2.75 Million Penalty for Providing Deficient Blue Sheet Data

The Securities and Exchange Commission today announced that Convergex Execution Solutions LLC, now known as Cowen Execution Services LLC, will pay $2.75 million to settle charges that the broker-dealer firm provided the SEC with incomplete and deficien…

SEC Charges Hedge Fund Adviser With Short-and-Distort Scheme

The Securities and Exchange Commission today charged a hedge fund adviser and his investment advisory firm with illegally profiting from a scheme to drive down the price of San Diego-based Ligand Pharmaceuticals Inc., reaping more than $1.3 million of …