Wednesday, September 18, 2019

SEC Charges ICO Incubator and Founder for Unregistered Offering and Unregistered Broker Activity

The Securities and Exchange Commission today sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal $14 million securities offering of ICOBox’s digital tokens and for acting as unregistered brokers for other digital asset offerings.…
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SEC Halts Alleged $125 Million Offering Fraud

The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and asset freeze against three individuals and three entities in connection with an alleged fraudulent,…
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Tuesday, September 17, 2019

SEC Proposes Rules to Update Statistical Disclosures for Banking Registrants

The Securities and Exchange Commission today announced that it has proposed rules to update the statistical disclosures that bank and savings and loan registrants provide to investors, and eliminate disclosures that overlap with Commission rules, U.S.…
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Raymond James Agrees to Pay $15 Million for Improperly Charging Retail Investors

The Securities and Exchange Commission today instituted a settled order against three Raymond James entities for improperly charging advisory fees on inactive retail client accounts and charging excess commissions for brokerage customer investments in…
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Monday, September 16, 2019

Two Broker-Dealers to Pay $4.65 Million in Penalties for Providing Deficient Blue Sheet Data

The Securities and Exchange Commission today announced that Stifel, Nicolaus & Co., Inc. has agreed to pay $2.7 million and BMO Capital Markets Corp. has agreed to pay $1.95 million to settle charges for providing incomplete and inaccurate…
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SEC Charges Prudential Subsidiaries For Misleading Funds They Advised, Generating Tens of Millions in Tax Benefits for Prudential

The Securities and Exchange Commission today charged two subsidiaries of Prudential Financial Inc. with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 funds they advised. According to the SEC's order,…
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SEC Charges Silicon Valley-Based Issuer With Misleading Disclosure Violations

The Securities and Exchange Commission today announced that Marvell Technology Group, Ltd. will pay $5.5 million to settle charges that it misled investors when it engaged in an undisclosed revenue management scheme in order to meet publicly-issued…
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Wednesday, September 11, 2019

James M. Daly, Division of Corporation Finance Associate Director, to Retire from the SEC After More Than 38 Years of Service

The Securities and Exchange Commission today announced that James M. Daly, Division of Corporation Finance Associate Director, will retire at the end of the month after more than 38 years of service at the SEC. As an Associate Director overseeing the…
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Monday, September 9, 2019

SEC Proposes Transparency and Financial Accountability Amendments to the CAT NMS Plan

The Securities and Exchange Commission today voted to propose amendments to the national market system plan governing the Consolidated Audit Trail (the “CAT NMS Plan”).  The proposed amendments to the CAT NMS Plan would require self-regulatory…
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Chandler Smith Costello Named Deputy Director for Public Affairs

The Securities and Exchange Commission today announced Chandler Smith Costello has been named Deputy Director for the Office of Public Affairs. Costello comes to the SEC from the Office of Senate Majority Whip John Thune where she served as his…
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Wednesday, September 4, 2019

SEC and CFTC Charge Options Clearing Corp. With Failing to Establish and Maintain Adequate Risk Management Policies

The Securities and Exchange Commission and the Commodity Futures Trading Commission today announced that the Options Clearing Corporation (OCC) will undertake remedial efforts and pay $20 million in penalties to settle charges that it failed to implement…
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Tuesday, September 3, 2019

SEC Names Monique Winkler as Associate Regional Director in San Francisco Office

The Securities and Exchange Commission today announced that Monique C. Winkler has been named Associate Regional Director for enforcement in the San Francisco Regional Office.  Ms. Winkler succeeds Erin E. Schneider, who became Regional Director of… Read the Full Press Release

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