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 …

SEC Uses Data Analysis to Detect Cherry-Picking By Broker

The Securities and Exchange Commission today charged a New Jersey-based broker with misusing his access to customers’ brokerage accounts to enrich himself and family members at the expense of his customers, many of whom had entrusted him with their ret…

United Technologies Charged With Violating FCPA

The Securities and Exchange Commission today announced that Connecticut-based United Technologies Corporation will pay $13.9 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by making illicit payments in its elevator…

Elad Roisman Sworn In As SEC Commissioner

Elad L. Roisman has been sworn into office as an SEC Commissioner by SEC Chairman Jay Clayton.

Mr. Roisman was nominated to the SEC by President Donald J. Trump and his nomination was confirmed by the U.S. Senate on September 5.

“It is my honor to we…

SEC Charges Digital Asset Hedge Fund Manager With Misrepresentations and Registration Failures

The Securities and Exchange Commission today announced its first-ever enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets.

The SEC entered an order finding that Cry…

SEC Charges ICO Superstore and Owners With Operating As Unregistered Broker-Dealers

The Securities and Exchange Commission today announced that TokenLot LLC, a self-described “ICO Superstore,” and its owners will settle charges that they acted as unregistered broker-dealers.  This is the SEC’s first case charging unregistered broker-d…

SEC Obtains Relief to Fully Reimburse Retail Investors Sold Unsuitable Product

The Securities and Exchange Commission today announced it has obtained monetary relief that will fully reimburse retail investors for losses on a leveraged oil-linked exchange-traded note (ETN) that registered representatives of Syracuse, New York-base…