Tuesday, July 17, 2018

SEC News - Ponzi Scheme, Misleading Customers, Insider Trading

SEC Shuts Down $102 Million Ponzi Scheme
The SEC filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S.

Merrill Lynch Admits to Misleading Customers about Trading Venues
Merrill Lynch, Pierce, Fenner & Smith has been charged with misleading customers about how it handled their orders. Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty.

Wells Fargo Advisors Settles SEC Charges
Wells Fargo Advisors LLC agreed to settle charges of misconduct in the sale of financial products known as market-linked investments, or MLIs, to retail investors.

SEC Charges Credit Ratings Analyst and Two Friends with Insider Trading
The SEC charged a credit ratings agency employee with tipping two friends about The Sherwin-Williams Co.’s confidential plans to acquire The Valspar Corp., which he learned of through his work. The SEC also charged the two friends with trading on the illicit tips, which reaped them substantial profits.

Former Equifax Manager Charged With Insider Trading
A former Equifax manager has been charged with insider trading in advance of the company’s September 2017 announcement of a massive data breach that exposed Social Security numbers and other personal information of approximately 148 million U.S. customers. This is the second case the SEC has filed arising from the Equifax data breach.

---
The attorneys at Sallah Astarita & Cox include veteran securities litigators and former SEC Enforcement Attorneys. We have decades of experience in securities litigation matters, including the defense of enforcement actions. We represent investors, financial professionals and investment firms, nationwide. For more information call 212-509-6544 or send an email to mja@sallahlaw.com. The Securities Law Blog.

Post a Comment