Kinross Gold Charged With FCPA Violations

The Securities and Exchange Commission today announced a settled action against Canada-based Kinross Gold Corporation for Foreign Corrupt Practices Act violations arising from the company’s repeated failure to implement adequate accounting controls of …

SEC Stops Ponzi-Schemer Targeting Retail Investors and Obtains Preliminary Injunction and Asset Freeze

The Securities and Exchange Commission today announced charges and a preliminary injunction and asset freeze against Niket Shah, a New Jersey resident who stole more than $250,000 in a Ponzi scheme in which his friends and coworkers invested.

Based on…

Broker Charged With Repeatedly Putting Customer Assets At Risk

The Securities and Exchange Commission today announced that Electronic Transaction Clearing (ETC), a registered broker-dealer headquartered in Los Angeles, has agreed to settle charges that it illegally placed more than $25 million of customers’ securi…

SEC Announces Its Largest-Ever Whistleblower Awards

The Securities and Exchange Commission today announced its highest-ever Dodd-Frank whistleblower awards, with two whistleblowers sharing a nearly $50 million award and a third whistleblower receiving more than $33 million.  The previous high was a $30 …

SEC Proposes Transaction Fee Pilot for NMS Stocks

The Securities and Exchange Commission today voted to propose new Rule 610T of Regulation NMS to conduct a Transaction Fee Pilot in NMS stocks.

The proposed pilot would subject stock exchange transaction fee pricing, including “maker-taker” fee-and-…

SEC Proposes Targeted Changes to Public Liquidity Risk Management Disclosure

The Securities and Exchange Commission today proposed amendments to public liquidity-related disclosure requirements for certain open-end investment management companies.  Under the proposal, funds would discuss in their annual report the operation and…

Theranos, CEO Holmes, and Former President Balwani Charged With Massive Fraud

The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh “Sunny” Balwani with raising more than $700 million from investors through an…

Former Equifax Executive Charged With Insider Trading

The Securities and Exchange Commission today charged a former chief information officer of a U.S. business unit of Equifax with insider trading in advance of the company’s September 2017 announcement about a massive data breach that exposed the social …

Foreign Affiliates of KPMG, Deloitte, BDO Charged in Improper Audits

The Securities and Exchange Commission today charged foreign affiliates of KPMG, Deloitte & Touche, and BDO for their involvement in audit work that circumvented the full oversight of the Public Company Accounting Oversight Board (PCAOB).

The firms ag…

Foreign Affiliates of KPMG, Deloitte, BDO Charged in Improper Audits

The Securities and Exchange Commission today charged foreign affiliates of KPMG, Deloitte & Touche, and BDO for their involvement in audit work that circumvented the full oversight of the Public Company Accounting Oversight Board (PCAOB).

The firms ag…

SEC Charges Penny Stock “Mailman” With Scalping Investors In Gold Mining Stocks

The Securities and Exchange Commission has charged a penny stock promoter based in Florida with defrauding investors in a pair of gold mining stocks by secretly amassing shares before touting the companies publicly.  He allegedly sold the bulk of his s…

SEC Foils Penny Stock Executive’s Plan to Pump Stock and Exploit Investors

The Securities and Exchange Commission today barred the president of a penny stock company from ever again serving as a public company officer or director after he was caught making false and misleading statements about the company to investors in an e…