SEC Charges Five Investment Advisers for Marketing Rule Violations
The Securities and Exchange Commission today announced settled charges against five registered investment advisers for Marketing Rule violations. All five firms have agreed to settle the SEC’s charges and to pay $200,000 in combined penalties. The five…
Register for the SEC’s 43rd Annual Small Business Forum April 16-18
The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation will host the SEC’s 43rd Annual Government-Business Forum on Small Business Capital Formation during three virtual sessions April 16-18 from 1-2:30 p.m.…
SEC Charges Advisory Firm Senvest Management with Recordkeeping and Other Failures
The Securities and Exchange Commission today announced charges against registered investment adviser Senvest Management LLC for widespread and longstanding failures to maintain and preserve certain electronic communications. The SEC also charged Senvest…
SEC Encourages Investors to Plan for Their Financial Future During Financial Capability Month
The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today announced that its theme for April’s National Financial Capability Month is, “What does your financial future look like? Having a plan can help answer the…
SEC Adopts Reforms Relating to Investment Advisers Operating Exclusively Through the Internet
The Securities and Exchange Commission today adopted amendments to the rule permitting certain internet investment advisers to register with the Commission (the “internet adviser exemption”). The amendments will require an investment adviser relying on…
SEC Seeks Candidates for Investor Advisory Committee
The Securities and Exchange Commission is seeking five candidates for appointment to the Investor Advisory Committee to help protect investors and improve securities regulations. The Committee was established under the Dodd-Frank Wall Street Reform and…
SEC Charges Former Arista Networks Chairman Andy Bechtolsheim with Insider Trading
The Securities and Exchange Commission today announced insider trading charges against Andreas “Andy” Bechtolsheim, the founder and Chief Architect of Silicon Valley-based technology company Arista Networks, Inc. To settle the SEC’s charges, Bechtolsheim…
SEC’s OMWI FY 2023 Annual Report Highlights the Agency’s Diversity, Equity, Inclusion and Accessibility Initiatives and Progress
As part of its continuing efforts to promote diversity, equity, and inclusion with regulated entities, the Securities and Exchange Commission’s Office of Minority and Women Inclusion (OMWI) published two reports: the 2022 Diversity Assessment Report for…
SEC, NASAA, and Georgia Secretary of State to Host Investor Roundtables at University of North Georgia and Dalton State College
The Securities and Exchange Commission today announced that it will join the North American Securities Administrators Association (NASAA), the Georgia Secretary of State, the University of North Georgia, and Dalton State College to host joint public…
Genesis Agrees to Pay $21 Million Penalty to Settle SEC Charges
The Securities and Exchange Commission today announced that Genesis Global Capital, LLC agreed to a final judgment ordering it to pay a $21 million civil penalty and imposing a permanent injunction to settle charges that it engaged in the unregistered…
SEC Charges Two Investment Advisers with Making False and Misleading Statements About Their Use of Artificial Intelligence
The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their purported use of artificial intelligence (AI).…
SEC Charges 17 Individuals in $300 Million Crypto Asset Ponzi Scheme Targeting the Latino Community
The Securities and Exchange Commission today charged 17 individuals for their roles in a $300 million Ponzi scheme that involved Houston, Texas-based CryptoFX LLC and targeted more than 40,000 predominantly Latino investors in the U.S. and two other…
SEC Charges Tallgrass Energy’s Former Board Member Roy Cook and Four Others with Insider Trading in Advance of Blackstone Acquisition
The Securities and Exchange Commission today announced insider trading charges against Roy Cook, a former board member of Tallgrass Energy LP, and four of his friends for trading on material nonpublic information in advance of a public announcement that…
SEC Charges Skechers with Making Undisclosed Payments to Executives’ Family Members
The Securities and Exchange Commission today announced that Skechers U.S.A. Inc., a footwear company based in California, agreed to settle charges for failing to disclose payments for the benefit of its executives and their immediate family members.…
SEC Adopts Amendments to Enhance Disclosure of Order Execution Information
The Securities and Exchange Commission today adopted rule amendments that update the disclosure required under Rule 605 of Regulation NMS for order executions in national market system stocks (NMS stocks), which are stocks listed on a national securities…
SEC Adopts Rules to Enhance and Standardize Climate-Related Disclosures for Investors
The Securities and Exchange Commission today adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules reflect the Commission’s efforts to respond to investors’ demand for more…
SEC Charges Advisory Firm HG Vora for Disclosure Failures Ahead of Ryder Acquisition Bid
The Securities and Exchange Commission today announced settled charges against New York-based investment adviser HG Vora Capital Management LLC for its failure to make timely ownership disclosures in the lead-up to its May 2022 acquisition bid for…
SEC Charges Lordstown Motors with Misleading Investors about Company’s Flagship Electric Vehicle
The Securities and Exchange Commission today charged Lordstown Motors Corp. with misleading investors about the sales prospects of Lordstown’s flagship electric pickup truck, the Endurance. Lordstown, which filed for bankruptcy in 2023, went public by…
SEC Investor Advisory Committee to Discuss Proposals to Improve Equity Market Structure and Examine the Use of Materiality as a Disclosure Standard
The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting on March 7 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 will host two panels…
SEC Announces Departure of William Birdthistle; Natasha Vij Greiner Named Director of the Division of Investment Management
The Securities and Exchange Commission today announced that William Birdthistle, the Director of the Division of Investment Management, will depart the agency, effective March 8, 2024. Natasha Vij Greiner, currently the Deputy Director of the Division of…