SEC Shuts Down $85 Million Ponzi Scheme and Obtains Asset Freeze

The Securities and Exchange Commission today announced the unsealing of fraud charges against a Mississippi company and its principal who allegedly bilked at least 150 investors in an $85 million Ponzi scheme.  The defendants agreed to permanent injunc…

SEC Names Raquel Fox Director of the Office of International Affairs

The Securities and Exchange Commission today announced that Raquel Fox will succeed Paul Leder as the Director of the Office of International Affairs, which advises the Commission on cross-border enforcement and regulatory matters and coordinates the S…

SEC Enforcement Division Issues FAQs for Share Class Selection Disclosure Initiative

The Securities and Exchange Commission’s Division of Enforcement today issued answers to frequently asked questions (FAQs) on the Share Class Selection Disclosure Initiative, providing additional information about adviser eligibility, disgorgement, and…

Office of International Affairs Director Paul A. Leder to Leave SEC

The Securities and Exchange Commission today announced that Paul A. Leder, Director of the Office of International Affairs (OIA), will leave the agency in June. Mr. Leder rejoined the agency as OIA Director in February 2014. OIA advises the Commission …

Panasonic Charged With FCPA and Accounting Fraud Violations

The Securities and Exchange Commission today announced that Japan-based Panasonic Corp. will pay more than $143 million to resolve charges of Foreign Corrupt Practices Act (FCPA) and accounting fraud violations involving its global avionics business.

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Eric R. Werner Named Associate Regional Director for Enforcement in Fort Worth Office

The Securities and Exchange Commission today announced that Eric R. Werner has been named the Associate Regional Director for Enforcement in the SEC’s Fort Worth Regional Office.  He succeeds Jessica B. Magee, who left the agency in February.

Mr. Wern…

Altaba, Formerly Known as Yahoo!, Charged With Failing to Disclose Massive Cybersecurity Breach; Agrees To Pay $35 Million

The Securities and Exchange Commission today announced that the entity formerly known as Yahoo! Inc. has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the world’s largest data breaches in w…

SEC Charges Additional Defendant in Fraudulent ICO Scheme

The Securities and Exchange Commission today announced additional fraud charges stemming from an investigation of Centra Tech Inc.’s $32 million initial coin offering. 

In an amended complaint filed today, the SEC charged one of Centra’s co-founders, …

Douglas Scheidt, Associate Director and Chief Counsel in the Division of Investment Management, to Leave Agency After 32 Years of Public Service

The Securities and Exchange Commission announced today that Douglas Scheidt, an Associate Director and the Chief Counsel in the Division of Investment Management, will retire from the SEC at the end of September.
Mr. Scheidt has led the Division’s Chie…

SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships With Investment Professionals

The Securities and Exchange Commission today voted to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access …

Fee Rate Advisory #3 for Fiscal Year 2018

The Securities and Exchange Commission today announced that starting on May 22, 2018, the fee rates applicable to most securities transactions will be set at $13.00 per million dollars.  

Consequently, each SRO will continue to pay the Commission a ra…

SEC Unveils Public Service Announcement to Promote Background Checks on Investor.gov

The Securities and Exchange Commission today unveiled a public service announcement (PSA) to encourage investors to check the background of their investment professional by using the free search tool on Investor.gov before investing.  Investor.gov, the…