SEC Approves Revised Privacy Act Rule

The Securities and Exchange Commission today approved a rule to revise the Commission’s regulations under the Privacy Act, which is the principal law governing the handling of personal information in the federal government. The final rule clarifies,…

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SEC Adopts Rule Enhancements to Prevent Misleading or Deceptive Investment Fund Names

The Securities and Exchange Commission today adopted amendments to the Investment Company Act “Names Rule,” which addresses fund names that are likely to mislead investors about a fund’s investments and risks. The amendments modernize and enhance the…

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SEC Charges California Resident with Multimillion Dollar Ponzi Scheme Targeting Tongan American Community

The Securities and Exchange Commission today charged Richmond, California resident Tilila Walker Sumchai with raising approximately $11.8 million from more than 1,000 investors through a fraudulent securities offering targeting members of the Tongan…

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SEC Charges New York Firm Concord Management and Owner with Acting as Unregistered Investment Advisers to Billionaire Former Russian Official

The Securities and Exchange Commission today announced charges against Concord Management LLC of Tarrytown, New York, and its owner and principal, Michael Matlin, for operating as unregistered investment advisers to their only client—a wealthy former…

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SEC Investor Advisory Committee to Discuss Exempt Offerings and Accredited Investors at September 21 Meeting

The Securities and Exchange Commission’s Investor Advisory Committee will hold a public, in-person, meeting on September 21 at 10 a.m. ET at the SEC Headquarters in Washington, D.C. The meeting will also be webcast on the SEC website. The committee…

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SEC Charges CBRE, Inc. with Violating Whistleblower Protection Rule

The Securities and Exchange Commission today announced settled charges against CBRE, Inc. (CBRE), a Dallas-based commercial real estate services and investment firm and subsidiary of publicly traded CBRE Group, Inc., for using an employee release that…

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SEC Issues New Strategic Plan for Diversity, Equity, Inclusion, and Accessibility

The Securities and Exchange Commission today announced that it has posted to sec.gov the agency’s Diversity, Equity, Inclusion, and Accessibility (DEIA) Strategic Plan for fiscal years 2023-2026 that builds on and advances the SEC’s DEIA commitment and…

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SEC Charges Lyft with Failure to Disclose Board Member’s Financial Interest in Private Shareholder’s Pre-IPO Stock Transaction

The Securities and Exchange Commission today charged Lyft Inc. for failing to disclose a company board director’s role in a shareholder’s sale of approximately $424 million worth of private shares of Lyft’s stock prior to the company’s initial public…

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SEC Updates List of Firms Using Inaccurate Information to Solicit Investors

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 29 soliciting entities, three impersonators of genuine firms, and one…

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SEC Charges Connecticut Advisory Firm GlennCap and its Owner with Cherry-Picking

The Securities and Exchange Commission today announced settled fraud charges against GlennCap LLC, a Connecticut-based investment advisory firm, and its owner, Jonathan Vincent Glenn, for allocating profitable securities trades to favored accounts,…

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