Sunday, December 9, 2018

SEC News - Insider Trading, Fraud, and Misleading Subscribers

SEC Charges Family Friend of Former Investment Banker With Insider Trading
These charges involve an IT professional in Texas who allegedly participated in an insider trading scheme perpetrated by a former Wall Street investment banking analyst.

Investment Adviser Charged With Running $3.9 Million Fraud
A former registered representative and investment adviser in Altoona, Pennsylvania has been charged with operating a long-running offering fraud.

Citibank to Pay for Improper Handling of ADRs
Citibank N.A. has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).

SEC Charges ITG With Misleading Dark Pool Subscribers
ITG Inc. and its affiliate AlterNet Securities Inc. have agreed to pay $12 million to settle charges arising from ITG’s misstatements and omissions about the operation of the firm’s dark pool, POSIT, and ITG’s failure to establish adequate safeguards and procedures to protect POSIT subscribers’ confidential trading information.

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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.comThe Securities Law Blog.

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