Dean C. Metry Named Chief Administrative Law Judge at SEC

The Securities and Exchange today announced that Dean C. Metry has been named the agency’s Chief Administrative Law Judge. Judge Metry will lead the SEC’s impartial Office of Administrative Law Judges that conducts hearings and issues initial…

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BarnBridge DAO Agrees to Stop Unregistered Offer and Sale of Structured Finance Crypto Product

The Securities and Exchange Commission today announced that BarnBridge DAO, a purportedly decentralized autonomous organization, and its two founders, Tyler Ward and Troy Murray, will pay more than $1.7 million to settle charges that they failed to…

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SEC Awards More Than $28 Million to Seven Whistleblowers

The Securities and Exchange Commission today announced awards of more than $28 million combined to seven individuals whose information and assistance led to a successful SEC enforcement action. The seven whistleblowers were composed of a single claimant…

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SEC Charges UAE-Based Brooge Energy and Former Executives with Fraud

The Securities and Exchange Commission today announced fraud charges against Brooge Energy Limited, a publicly-traded energy company located in the United Arab Emirates, the company’s former CEO, Nicolaas Lammert Paardenkooper, and its former Chief…

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SEC Charges Former CEO of Medical Device Startup Stimwave with $41 Million Fraud

The Securities and Exchange Commission today charged Laura Tyler Perryman, the former CEO and co-founder of Florida-based medical device startup Stimwave Technologies Inc., with defrauding investors out of approximately $41 million by making false and…

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SEC Charges Tingo Mobile Founder, Three Companies with Massive Fraud and Obtains Emergency Relief

The Securities and Exchange Commission today announced that it obtained a temporary asset freeze, restraining order, and other emergency relief against Mmobuosi Odogwu Banye a/k/a Dozy Mmobuosi and three affiliated U.S. based entities of which he is the…

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SEC Issues Staff Report on Accredited Investor Definition

The Securities and Exchange Commission today issued a staff report on the accredited investor definition. The Dodd-Frank Wall Street Reform and Consumer Protection Act directs the Commission to review the accredited investor definition as it relates to…

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SEC Small Business Advocacy Office Delivers Report to Congress on Capital Raising from Startups to Small Public Companies

The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation issued its 2023 Annual Report today to Congress and the Commission. The report details how entrepreneurs and investors are building companies together,…

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SEC Charges Titanium Capital and Founder Henry Abdo with Operating Ponzi Scheme

The Securities and Exchange Commission today charged Florida-based Titanium Capital LLC and its founder Henry Abdo with operating a Ponzi scheme that raised at least $5.3 million from more than 160 retail investors in the United States and abroad. The…

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SEC Obtains Emergency Relief to Halt $191 Million Cattle Ponzi Scheme

The Securities and Exchange Commission today announced that it obtained a temporary restraining order, asset freeze, the appointment of a receiver, and other emergency relief to halt an ongoing $191 million cattle Ponzi scheme being perpetrated by…

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Credit Suisse Entities to Pay $10 Million for Providing Prohibited Mutual Fund Services

The Securities and Exchange Commission today announced that Credit Suisse Securities (USA) LLC and two affiliated Credit Suisse entities (collectively, the Credit Suisse Entities) agreed to pay more than $10 million to settle the SEC’s charges that they…

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SEC Approves 2024 PCAOB Budget and Accounting Support Fee

The Securities and Exchange Commission today approved the 2024 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee. The 2024 PCAOB budget totals $384.7 million, and the accounting support fee…

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SEC Adopts Rules to Improve Risk Management in Clearance and Settlement and Facilitate Additional Central Clearing for the U.S. Treasury Market

The Securities and Exchange Commission today adopted rule changes to enhance risk management practices for central counterparties in the U.S. Treasury market and facilitate additional clearing of U.S. Treasury securities transactions. The rule changes…

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Daniel R. Gregus, Director of the Chicago Regional Office, to Depart the SEC

The Securities and Exchange Commission today announced that Daniel R. Gregus, Director of the Chicago Regional Office, will leave the agency at the end of December after more than 30 years of service. Vanessa Horton and Kathryn Pyszka will become Acting…

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SEC Charges Five Unregistered Brokers, Four Companies in Widespread Pre-IPO Fraud Scheme

The Securities and Exchange Commission today announced charges against Raymond J. Pirrello, Jr., Marcello Follano, Robert Cassino, Anthony DiTucci, Joseph Rivera, and their New Jersey or New York-based companies Prior 2 IPO Inc., Late Stage Asset…

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SEC Office of the Investor Advocate Publishes Its Policy Recommendations on Mandatory Arbitration and Registered Index-Linked Annuities Research

The Office of the Investor Advocate of the Securities and Exchange Commission today published its Report on Activities for the Fiscal Year 2023 to Congress. The report highlights the work of the Office during the fiscal year. Notable highlights from the…

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