Investment Adviser Settles Charges for Cheating Clients in Fraudulent Cherry-Picking Scheme

The Securities and Exchange Commission today announced settled charges against an Austin, Texas-based investment adviser for defrauding his clients through a “cherry-picking” scheme.  The adviser, Robert Mark Magee, who is the principal, sole owner, an…

Voya Advisers Agree to Repay Clients and Settle Charges That They Failed to Disclose Securities Lending Conflict

The Securities and Exchange Commission today charged two investment adviser subsidiaries of Voya Holdings Inc. with failing to disclose conflicts of interest and making misleading disclosures in connection with their practice of recalling securities on…

SEC Obtains Partial Asset Freeze of Proceeds in Alleged Fraudulent Touting Scheme

The Securities and Exchange Commission has filed fraud charges in a scheme to inflate the share price of an Israeli medical marijuana company’s common stock.  The court today entered a partial asset freeze of the proceeds of the alleged fraud.

The SEC…

SEC Charges Company and Executives in Oil-and-Gas Offering Fraud

The Securities and Exchange Commission has charged a Dallas-based oil-and-gas company and two of its executives with defrauding investors out of at least $950,000 through a string of fraudulent oil-and-gas securities offerings.

The SEC’s complaint, wh…

Merrill Lynch Charged With Gatekeeping Failures in the Unregistered Sales of Securities

The Securities and Exchange Commission today announced settled charges against Merrill Lynch, Pierce, Fenner & Smith Inc. for its failure to perform required gatekeeping functions in the unregistered sales of securities on behalf of a China-based issue…

NYSE to Pay $14 Million Penalty for Multiple Violations

The Securities and Exchange Commission today announced that it charged the New York Stock Exchange and two affiliated exchanges with regulatory failures in connection with multiple episodes, including several disruptive market events.  The charges aros…

SEC Charges Unregistered Broker for Illegally Brokering Sales of EB-5 Securities

The Securities and Exchange Commission today charged a New York-based company with illegally brokering dozens of investments by foreign nationals seeking U.S. residency. 

Between April 2014 and March 2017, Edwin Shaw LLC solicited foreign nationals to…

SEC Celebrates African American History Month

The Securities and Exchange Commission this week concluded its month of celebrations, events, and remembrances – at its Washington, D.C. headquarters as well as in regional offices around the country –in honor of African American History Month. With th…

SEC Charges U.K. Brokerage Firm, Investment Manager, CEO, and Others for Manipulative Trading in U.S. Microcap Stocks

The Securities and Exchange Commission today announced securities fraud charges against a U.K.-based broker-dealer and its investment manager in connection with manipulative trading in the securities of HD View 360 Inc., a U.S.-based microcap issuer.  …

SEC Files Charges Seeking to Halt Recidivist and Associates in Scheme to Defraud Small Businesses

The Securities and Exchange Commission today charged three-time recidivist Steven J. Muehler with operating an unregistered broker-dealer, facilitating an unregistered securities offering, and defrauding small businesses, while promising to help them r…

SEC Charges Ameriprise With Overcharging Retirement Account Customers for Mutual Fund Shares

The Securities and Exchange Commission today announced that a Minnesota-based broker-dealer and investment adviser has agreed to settle charges for recommending and selling higher-fee mutual fund shares to retail retirement account customers and for fa…

SEC Announces Agenda for March 8 Investor Advisory Committee Meeting

The Securities and Exchange Commission today announced the agenda for the March 8 meeting of its Investor Advisory Committee. The meeting will begin at 9:30 a.m. in the Multipurpose Room at SEC headquarters at 100 F Street, NE, Washington, D.C. and is …