Wednesday, December 7, 2022

SEC Charges Vika Ventures and its CEO in $6 Million Fraudulent Offering

The Securities and Exchange Commission today charged venture capital firm Vika Ventures LLC and its CEO and co-founder, George Iakovou, with fraudulently offering and selling more than $6 million of securities to at least 46 individual investors in…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

SEC Reopens Comment Period for Proposed Rule on Share Repurchase Disclosure Modernization

The Securities and Exchange Commission today reopened the comment period on proposed amendments intended to modernize and improve the disclosure required about an issuer’s repurchases of its equity securities, often referred to as buybacks. The…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

Monday, December 5, 2022

AT&T Settles SEC Charge of Selectively Disclosing Material Information to Wall St. Analysts

The Securities and Exchange Commission today announced that AT&T agreed to pay a $6.25 million penalty and three company executives agreed to pay $25,000 apiece stemming from charges brought in March 2021 related to the company’s selective disclosure…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

Saturday, December 3, 2022

ABB Settles SEC Charges that it Engaged in Bribery Scheme in South Africa

The Securities and Exchange Commission today announced charges against global electrification and automation technology company, ABB Ltd, for violations of the Foreign Corrupt Practices Act (FCPA) arising out of a bribery scheme in South Africa. The…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

Thursday, December 1, 2022

SEC Investor Advisory Committee to Discuss Investor Account Statements, Corporate Tax Transparency, and Single-Stock ETFs on Dec 8

The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on December 8 at 10 a.m. ET. The meeting will be webcast on the SEC website. The committee will host three panels to discuss: Account…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

Fort Worth Regional Director David L. Peavler to Leave SEC

The Securities and Exchange Commission today announced that David L. Peavler, the Director of the Fort Worth Regional Office since 2019, is leaving the agency after more than 19 years of service. Eric R. Werner and Marshall Gandy will serve as the office…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

Monday, November 28, 2022

SEC Awards $20 Million to Whistleblower

The Securities and Exchange Commission today announced an award of $20 million to a whistleblower who provided new and critical information that led to the success of an enforcement action. In determining the appropriate award amount, the SEC considered…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

Wednesday, November 23, 2022

SEC Publishes FY22-26 Strategic Plan

The Securities and Exchange Commission today released its Strategic Plan for fiscal years 2022 to 2026, outlining agency objectives to fight against fraud, maintain a robust and relevant regulatory framework, and sustain a skilled and diverse workforce…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

Tuesday, November 22, 2022

SEC Charges Goldman Sachs Asset Management for Failing to Follow its Policies and Procedures Involving ESG Investments

The Securities and Exchange Commission today charged Goldman Sachs Asset Management, L.P. (GSAM) for policies and procedures failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance…

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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

Saturday, November 19, 2022

December 7 Deadline to Comment on New Expungement Proposal

With only 4% of customer complaints being expunged, FINRA is bowing to pressure, presumably from the customer attorneys' bar, to again make it more difficult to remove false claims from a broker's public record.


FINRA's recent proposed amendment seeks to make expungement an even more extraordinary remedy by preventing anyone found liable in a customer complaint case from even seeking it. The proposal would also require that customers who have submitted complaints or other professionals be invited to any hearing on expungement proposals; and it would prohibit the arbitration panels charged with granting or rejecting expungement requests from giving any "evidentiary weight" to a customer's failure to appear at a hearing.

https://www.financial-planning.com/news/brokers-comment-period-on-finra-expungement-proposal