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…

SEC Staff to Host Roundtable on Market Structure for Thinly-Traded Securities

The Securities and Exchange Commission today announced its staff will host a roundtable on April 23 that will address the market structure for thinly-traded exchange-listed securities, both equities and exchange-traded products.  The roundtable, which …

SEC Awards Whistleblower More Than $2.1 Million

The Securities and Exchange Commission today announced a whistleblower award of more than $2.1 million to a former company insider whose information led to multiple successful enforcement actions.  The whistleblower’s information strongly supported the…

SEC Charges Texas Company, Principals in Multimillion Dollar Ponzi Scheme Targeting Seniors

On April 6, 2018, the Securities and Exchange Commission charged two Texas companies and their principals in a $2.4 million Ponzi scheme and in a related, $1.4 million offering fraud targeting retirees.
The SEC’s complaint alleges that, from 2010 to 20…

SEC Orders Three Investment Advisers to Pay $12 Million to Harmed Clients

The Securities and Exchange Commission today announced that three investment advisers have settled charges for breaching fiduciary duties to clients and generating millions of dollars of improper fees in the process.  

According to the SEC’s orders, P…

SEC Obtains Emergency Freeze of $27 Million in Stock Sales of Purported Cryptocurrency Company Longfin

The Securities and Exchange Commission has obtained a court order freezing more than $27 million in trading proceeds from allegedly illegal distributions and sales of restricted shares of Longfin Corp. stock involving the company, its CEO, and three ot…

SEC Issues Agenda for April 9 Meeting of the Fixed Income Market Structure Advisory Committee

The Securities and Exchange Commission today released the agenda for the Fixed Income Market Structure Advisory Committee meeting, which will be held on April 9, 2018 beginning at 9:30 a.m. ET. The Commission established the advisory committee to provi…