SEC-PR-2412-199 (Dec. 12, 2024) (SEC-PR-2412) SEC Charges Cantor Fitzgerald Over Misleading SPAC Disclosures Excerpt: Washington D.C., Dec. 12, 2024 — The Securities and Exchange Commission today charged global financial services firm Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies (SPACs) that it controlled to make misleading statements to investors ahead of their initial […]
SEC-PR-2412-198 (Dec. 12, 2024) (SEC-PR-2412) SEC Charges Former Representative of Advisory Firm SeaCrest with Cherry-Picking – Firm settles SEC charges related to former employee’s misconduct Excerpt: Washington D.C., Dec. 12, 2024 — The Securities and Exchange Commission today charged Eric Cobb of South Carolina with engaging in a fraudulent scheme where he allocated profitable securities […]
SEC-PR-2412-197 (Dec. 12, 2024) (SEC-PR-2412) SEC Small Business Advocacy Office Delivers Report to Congress on Capital Raising for Startups to Small Public Companies Excerpt: Washington D.C., Dec. 12, 2024 — The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation issued its 2024 Annual Report (PDF 136-pages) today to Congress and the […]
SEC-PR-2412-196 (Dec. 12, 2024) (SEC-PR-2412) SEC Office of the Investor Advocate Issues Report on Nationally Representative Survey of Investors and Continues Focus on Investment Fraud Excerpt: Washington D.C., Dec. 12, 2024 — The Securities and Exchange Commission’s Office of the Investor Advocate today published its Report on Activities (PDF 50-pages) for the Fiscal Year 2024 […]
SEC-PR-2412-195 (Dec. 11, 2024) (SEC-PR-2412) SEC Charges Ken Peterman, Former Comtech CEO, with Insider Trading in Advance of Negative Earnings Announcement – Defendant placed order to sell company’s securities within hours of his termination for cause while subject to multiple trading blackouts Excerpt: Washington D.C., Dec. 11, 2024 — The Securities and Exchange Commission today announced […]
SEC-PR-2412-194 (Dec. 11, 2024) (SEC-PR-2412) SEC Charges Three Individuals with Impersonating Financial Professionals in Fraud Scheme Targeting Retail Investors Excerpt: Washington D.C., Dec. 11, 2024 — The Securities and Exchange Commission today charged Chibuzo Augustine Onyeachonam, Stanley Chidubem Asiegbu, and Chukwuebuka Martin Nweke-Eze with fraud for impersonating legitimate securities brokers and investment advisers in an […]
SEC-PR-2412-193 (Dec. 9, 2024) (SEC-PR-2412) SEC Charges Morgan Stanley Smith Barney for Policy Deficiencies that Resulted in Failure to Prevent and Detect its Financial Advisors’ Theft of Investor Funds Excerpt: Washington D.C., Dec. 9, 2024 — The Securities and Exchange Commission today charged Morgan Stanley Smith Barney LLC (MSSB) with failing to reasonably supervise four […]
SEC-PR-2412-192 (Dec. 9, 2024) (SEC-PR-2412) SEC Charges Ian Bell with Defrauding Professional Athletes and Others in Fraudulent Day-Trading Scheme Excerpt: Washington D.C., Dec. 9, 2024 — The Securities and Exchange Commission today charged Denver resident Ian G. Bell with securities fraud for lying to investors and misappropriating their funds in connection with a fraudulent day-trading scheme. […]
SEC-PR-2412-191 (Dec. 9, 2024) (SEC-PR-2412) SEC Announces Departure of Trading and Markets Division Director Haoxiang Zhu – Deputy Director David Saltiel to serve as Acting Director Excerpt: Washington D.C., Dec. 9, 2024 — The Securities and Exchange Commission today announced that Haoxiang Zhu, Director of the Division of Trading and Markets, will depart the agency effective […]
SEC-PR-2412-189 (Dec. 3, 2024) (SEC-PR-2412) SEC Charges Kiromic BioPharma and Two Former C-Suite Executives with Misleading Investors about Status of FDA Reviews – SEC declines to impose civil penalties against company due to its self-reporting, remediation, and cooperation. Excerpt: Washington D.C., Dec. 3, 2024 — The Securities and Exchange Commission today filed settled charges against […]