Thursday, March 15, 2018

SEC News - Gatekeeping Failures, $14 Million Penalty, and Illegal Brokering


Merrill Lynch Charged With Gatekeeping Failures in the Unregistered Sales of Securities
The SEC 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 issuer and its affiliates.

NYSE to Pay $14 Million Penalty for Multiple Violations
The SEC charged the New York Stock Exchange and two affiliated exchanges with regulatory failures in connection with multiple episodes, including several disruptive market events.

SEC Charges Unregistered Broker for Illegally Brokering Sales of EB-5 Securities
A New York-based company has been charged with illegally brokering dozens of investments by foreign nationals seeking U.S. residency.

SEC Charges U.K. Brokerage Firm, Investment Manager, CEO, and Others for Manipulative Trading in U.S. Microcap Stocks
A U.K.-based broker-dealer and its investment manager have been charged with securities fraud in connection with manipulative trading in the securities of HD View 360 Inc., a U.S.-based microcap issuer.

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