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…

SEC Charges Two Brokers With Defrauding Customers

The Securities and Exchange Commission charged two brokers for recommending excessive levels of trading that were costly for retail customers but lucrative for the brokers.  

In separate complaints filed in federal court in Manhattan on Friday, the SE…

SEC Charges Microcap Fraudsters for Roles in Lucrative Market Manipulation Schemes

The Securities and Exchange Commission today charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm t…

SEC Charges Real Estate Broker With FCPA Violations

The Securities and Exchange Commission today announced settled FCPA charges against a New Jersey real estate broker arising out of his attempt to bribe a foreign official while acting as a broker for Colliers International Group, Inc.

According to the…

SEC Names Anita Bandy and Carolyn Welshhans as Associate Directors in Enforcement Division

The Securities and Exchange Commission today announced that Anita B. Bandy and Carolyn M. Welshhans have been named Associate Directors in the SEC’s Division of Enforcement.  In their new roles, Ms. Bandy and Ms. Welshhans will each supervise approxima…

SEC Awards More Than $54 Million to Two Whistleblowers

The Securities and Exchange Commission is awarding $39 million to one whistleblower and $15 million to another whose critical information and continued assistance helped the agency bring an important enforcement action.  The $39 million award is the se…

SEC Charges Two Men With Fraud in Fake Trading Accounts Scheme

The Securities and Exchange Commission today charged two Michigan men with fraud for their roles in a fake accounts scheme perpetrated by a phony day-trading firm, Nonko Trading.

The SEC alleges that Jeffrey Goldman of West Bloomfield, Michigan, and C…