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 […]
Category: Securities and Exchange Commission
The Securities and Exchange Commission (SEC) is an independent federal agency responsible for regulating the securities industry and protecting investors in the United States. Its primary role involves enforcing federal securities laws to maintain fair and efficient markets, ensuring that investors have access to accurate and timely information about publicly traded companies. The SEC oversees the registration of securities offerings, monitors insider trading, and investigates violations of securities laws. By promoting transparency and integrity in the financial markets, the SEC aims to foster investor confidence and support the overall stability of the U.S. economy.
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 […]
SEC-PR-2412-190 (Dec. 3, 2024) (SEC-PR-2412) SEC Investor Advisory Committee to Examine Mandatory Arbitration Clauses in Adviser Agreements and Alternative Assets and Retail Investors at December 10 Meeting Excerpt: Washington D.C., Dec. 3, 2024 — The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on Dec. 10, 2024, at 10 a.m. […]
SEC-PR-2024-188 (11-27-24) (SEC-PR-2411) SEC Updates List of Firms Using Inaccurate Information to Solicit Investors Excerpt: Washington D.C., Nov. 27, 2024 — The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 14 soliciting entities, two impersonators of genuine firms, and […]
SEC-PR-2024-187 (11-25-24) (SEC-PR-2411) SEC Charges Ken Leech, Former Co-Chief Investment Officer of Western Asset Management Co., with Fraud – Defendant allegedly engaged in cherry-picking, allocating hundreds of millions of dollars in net first-day gains and losses to favored and disfavored portfolios, respectively Excerpt: Washington D.C., Nov. 25, 2024 — The Securities and Exchange Commission today […]