SEC Continues Crackdown on Brokers Defrauding Customers

The Securities and Exchange Commission today continued its crackdown on brokers who defraud customers, charging two New York-based brokers with making unsuitable trades that were costly for customers and lucrative for the brokers.  The case follows sim…

Former Company Insider Earns More Than $4.1 Million for Whistleblower Tip

The Securities and Exchange Commission today announced an award of more than $4.1 million to a former company insider who alerted the agency to a widespread, multi-year securities law violation and continued to provide important information and assista…

Digital Display Advertising Firm, Executives Charged With Bilking Investors

The Securities and Exchange Commission today charged a Seattle-area outdoor digital signage advertising company and two of its senior executives with stealing more than $2 million from retail investors. 

According to the SEC’s complaint filed in U.S…

Audit Firm Charged With Fraud Relating to Auditing of Penny Stock Companies

A California-based audit firm is being charged with conducting flawed audits and reviews of financial statements, which are critical sources of information for investors. 

The SEC’s Enforcement Division alleges that Anton & Chia LLP and its accounta…

SEC Emergency Action Halts ICO Scam

The Securities and Exchange Commission today announced it obtained an emergency asset freeze to halt a fast-moving Initial Coin Offering (ICO) fraud that raised up to $15 million from thousands of investors since August by falsely promising a 13-fold p…

SEC Charges Florida Penny Stock Operators With Defrauding Elderly Investors in Push to Crack Down on Repeat Offenders

The Securities and Exchange Commission today charged two individuals with defrauding elderly investors in a penny stock scheme involving Florida entertainment companies and their “Spongebuddy” product.  The charges are part of the Miami Regional Office…

Division of Corporation Finance Chief Accountant Mark Kronforst to Leave SEC

The Securities and Exchange Commission today announced that Mark Kronforst, Chief Accountant of the SEC’s Division of Corporation Finance, plans to leave the SEC in early January after 13 years of public service with the investor protection agency.

Mr…

More Than $16 Million Awarded to Two Whistleblowers

The Securities and Exchange Commission today announced awards of more than $8 million each to two whistleblowers whose critical information and continuing assistance helped the agency bring the successful underlying enforcement action.

With this case,…

SEC Ratifies Appointment of Administrative Law Judges

The Securities and Exchange Commission today announced that it has ratified its prior appointment of Chief Administrative Law Judge Brenda Murray and Administrative Law Judges Carol Fox Foelak, Cameron Elliot, James E. Grimes, and Jason S. Patil.

On N…

SEC Announces Agenda for December 7 Investor Advisory Committee Meeting

The Securities and Exchange Commission today announced the agenda for the December 7 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, N.E., Washington, D.C. an…

Long Island Town and Former Top Official Charged With Defrauding Municipal Investors

The Securities and Exchange Commission today charged Oyster Bay, New York, and its former top elected official with defrauding investors in the town’s municipal securities offerings by hiding the existence and potential financial impact of side deals w…

SEC Names Paul G. Cellupica as Deputy Director of the Division of Investment Management

The Securities and Exchange Commission announced today that Paul G. Cellupica has been named Deputy Director of the agency’s Division of Investment Management.

Mr. Cellupica will oversee a number of the division’s strategic, rulemaking, and industry e…