SEC Files Additional Charges in Fitbit Stock Manipulation Scheme

The Securities and Exchange Commission today filed fraud charges against a second defendant in connection with a scheme to manipulate the price of Fitbit securities through false regulatory filings.  

According to the SEC’s complaint, Mark E. Burns pu…

Former CEO and CFO of ITT Barred and Ordered to Pay Penalties

The Securities and Exchange Commission today announced settlements with two former senior executives of ITT Educational Services Inc., which the SEC charged hid its true financial condition from investors.  This resolution successfully concludes the SE…

SEC Charges Credit Suisse With FCPA Violations

The Securities and Exchange Commission today announced that Credit Suisse Group AG will pay approximately $30 million to resolve SEC charges that it obtained investment banking business in the Asia-Pacific region by corruptly influencing foreign offici…

SEC Charges KBR for Inflating Key Performance Metric

The Securities and Exchange Commission today charged global engineering and construction company KBR Inc. for inflating a key performance metric known as work in backlog.  KBR agreed to pay a $2.5 million penalty to settle the SEC’s charges.
According …

SEC Charges Attorney and Law Firm Business Manager With Illegal Sales of UBI Blockchain Internet Stock

The Securities and Exchange Commission today charged two men alleged to have profited from illegal sales of stock of a company claiming to have a blockchain-related business.

According to the SEC’s complaint, attorney T.J. Jesky and his law firm’s bus…

SEC Chairman Clayton Invites Main Street Investors to ‘Tell Us’ About Their Investor Experience

Securities and Exchange Commission Chairman Jay Clayton is inviting Main Street investors from around the country to ‘Tell Us’ about their investor experience through roundtable discussions in several cities. In these roundtables, Main Street investors…

SEC Charges Morgan Stanley in Connection With Failure to Detect or Prevent Misappropriation of Client Funds

The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney (MSSB) has agreed to pay a $3.6 million penalty and to accept certain undertakings for its failure to protect against its personnel misusing or misappropriating fun…

SEC Charges New York-Based Firm and Supervisors for Failing to Supervise Brokers Who Defrauded Customers

The Securities and Exchange Commission today charged New York-based broker-dealer Alexander Capital L.P. and two of its managers for failing to supervise three brokers who made unsuitable recommendations to investors, “churned” accounts, and made unaut…

SEC Celebrates Lesbian, Gay, Bisexual and Transgender Pride Month

The Securities and Exchange Commission this week concluded its month of special events and guest speakers – at its Washington, D.C. headquarters, as well as in regional offices around the country – in honor of Lesbian, Gay, Bisexual and Transgender (LG…

SEC Approves Final and Proposed Rules in Latest Open Meeting

The Securities and Exchange Commission today voted on several final rules and rule proposals that together represent material progress toward many Commission priorities.

“Over the past year, I have been increasingly impressed by the breadth of experti…

SEC Proposes Whistleblower Rule Amendments

The Securities and Exchange Commission today voted to propose amendments to the rules governing its whistleblower program.  The whistleblower program was established in 2010 to incentivize individuals to report high-quality tips to the Commission and h…

SEC Adopts Targeted Changes to Public Liquidity Risk Management Disclosure

The Securities and Exchange Commission today adopted amendments to public liquidity-related disclosure requirements for certain open-end funds.  Under the amendments, funds would discuss in their annual or semi-annual shareholder report the operation a…