SEC Charges Ameriprise Financial Services for Failing to Safeguard Client Assets

The Securities and Exchange Commission today announced that Ameriprise Financial Services Inc. will pay $4.5 million to settle charges that it failed to safeguard retail investor assets from theft by its representatives. 

According to the SEC’s order,…

SEC Files Charges in Municipal Bond “Flipping” and Kickback Schemes

The Securities and Exchange Commission today charged two firms and 18 individuals in a scheme to improperly divert new issue municipal bonds to broker-dealers at the expense of retail investors.  According to the SEC’s complaint, the defendants – known…

SEC Bars Perpetrator of Initial Coin Offering Fraud

The Securities and Exchange Commission today obtained permanent officer-and-director and penny stock bars against the founder of a company who perpetrated a fraudulent initial coin offering (ICO) to fund oil exploration and drilling in California.

Acc…

SEC Charges U.S. Congressman and Others With Insider Trading

The Securities and Exchange Commission today announced the filing of insider trading charges against Congressman Christopher Collins, the U.S. Representative for New York’s 27th Congressional District, his son, Cameron Collins, and a third individual, …

SEC Charges Cloud Communications Company and Two Senior Executives With Misleading Revenue Projections

The Securities and Exchange Commission today charged a cloud communications company and two executives with providing misleading quarterly revenue estimates.  The company and executives agreed to pay over $1.9 million in penalties to settle the SEC’s c…

SEC Updates List of Firms Using Inaccurate Information to Solicit Investors

The Securities and Exchange Commission today announced that it has updated its list of unregistered firms that use misleading information to primarily solicit non-U.S. investors, adding 16 soliciting entities, four impersonators of genuine firms, and n…

SEC Charges Recidivist in Stock Manipulation Scheme

The Securities and Exchange Commission today charged Howard M. Appel with manipulating the stocks of three microcap companies while on supervised release following his criminal conviction for a prior securities fraud.

According to the SEC’s complaint,…

Daniel Gregus Named National Associate Director of Clearance and Settlement Examination Program

The Securities and Exchange Commission today announced that Daniel Gregus has been named National Associate Director of the Clearance and Settlement examination program in the agency’s Office of Compliance Inspections and Examinations (OCIE).  Mr. Greg…

Kristin Snyder Named Deputy Director of OCIE

The Securities and Exchange Commission today announced that Kristin Snyder has been named Deputy Director of the agency’s Office of Compliance Inspections and Examinations (OCIE). 

Ms. Snyder has been with the SEC for 15 years.  She has served as the …

Jane Jarcho, Deputy Director of OCIE, to Retire From SEC

The Securities and Exchange Commission today announced that Jane Jarcho, Deputy Director of the Office of Compliance Inspections and Examinations (OCIE), will retire from the SEC at the end of August. 

Ms. Jarcho has served as OCIE’s Deputy Director s…

Elizabeth Baird and Christian Sabella Named Deputy Directors of the Division of Trading and Markets

The Securities and Exchange Commission today announced that Elizabeth Baird and Christian Sabella have been named Deputy Directors in the Division of Trading and Markets.  

Ms. Baird joins the SEC from Morgan, Lewis & Bockius LLP, where she was a part…

SEC Proposes Rules to Simplify and Streamline Disclosures in Certain Registered Debt Offerings

The Securities and Exchange Commission today voted to propose rule amendments to simplify and streamline the financial disclosure requirements applicable to registered debt offerings for guarantors and issuers of guaranteed securities, as well as for a…