SEC Detects Silicon Valley Executive’s Insider Trading

The Securities and Exchange Commission today announced that a senior executive at a Silicon Valley fiber optics company has agreed to settle charges that he made nearly $200,000 in illicit profits by trading on inside information in advance of three di…

SEC Charges Failed Fyre Festival Founder and Others With $27.4 Million Offering Fraud

The Securities and Exchange Commission today announced that New York entrepreneur William Z. (Billy) McFarland, two companies he founded, a former senior executive, and a former contractor agreed to settle charges arising out of an extensive, multi-yea…

SEC Charges Mizuho Securities for Failure to Safeguard Customer Information

The Securities and Exchange Commission today charged Mizuho Securities USA LLC for its failure to safeguard information pertaining to stock buybacks by its issuer customers.  Mizuho failed to maintain and enforce policies and procedures aimed at preven…

Julie Lutz, Regional Director of the Denver Regional Office, to Leave SEC After More Than 40 Years Serving Investors

The Securities and Exchange Commission today announced that Julie K. Lutz, the Regional Director of the SEC’s Denver Regional Office, will leave the agency at the end of this month after more than 40 years of service.

Ms. Lutz has served at the helm o…

Deutsche Bank to Pay Nearly $75 Million for Improper Handling of ADRs

The Securities and Exchange Commission today announced that two U.S.-based subsidiaries of Deutsche Bank AG will pay nearly $75 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).

The case stems from a…

SEC Charges Investment Adviser and CEO With Misleading Retail Investors

The Securities and Exchange Commission today charged a Connecticut-based investment advisory firm and its chief executive officer with putting $19 million of investor money, including elderly investors’ retirement savings and pension plans, in risky in…

SEC Adopts Rules to Enhance Transparency and Oversight of Alternative Trading Systems

The Securities and Exchange Commission today announced it has voted to adopt amendments to Regulation ATS to enhance operational transparency and regulatory oversight of alternative trading systems (ATSs) that trade stocks listed on a national securiti…

SEC Adopts Final Rules and Solicits Public Comment on Ways to Modernize Offerings Pursuant to Compensatory Arrangements

The Securities and Exchange Commission today issued final rules to amend Securities Act Rule 701, which provides an exemption from registration for securities issued by non-reporting companies pursuant to compensatory arrangements.  As mandated by the …

SEC Charges BGC Financial for Failure to Preserve Documents and Maintain Accurate Books and Records

The Securities and Exchange Commission today announced that New York-based broker-dealer BGC Financial has agreed to pay a $1.25 million penalty to settle charges that it failed to preserve audio files sought by the SEC and inaccurately recorded travel…

SEC Charges Oil Company CEO, Board Member With Hiding Personal Loans

The Securities and Exchange Commission today charged the former CEO of Energy XXI Ltd. with hiding more than $10 million in personal loans that he obtained from company vendors and a candidate for Energy XXI’s board.  At the time of the alleged miscond…

SEC Files Charges in Busted Microcap Schemes

The Securities and Exchange Commission has charged a stock promoter and four others involved in an alleged series of microcap fraud schemes that were foiled by FBI undercover work and an SEC trading suspension.

According to the SEC’s complaint filed i…

SEC Issues Agenda for July 16 Meeting of the Fixed Income Market Structure Advisory Committee

The Securities and Exchange Commission today released the agenda for the July 16 meeting of the Fixed Income Market Structure Advisory Committee.  The Commission established the advisory committee to provide a formal mechanism through which the Commiss…