SEC News - Flipping Bonds, Kickback Schemes, and Offering Fraud - Citigroup to Pay More Than $10 Million for Books and Records Violations and Inadequate Controls Citigroup has agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, internal accounting controls,...
Tesla Formal Investigation Begins - The SEC has opened a formal investigation regarding Elon Musk's tweet about his going-private plans according to MarketWatch . Regulators have been looking at Musk's tweet from last week stating that funding for taking the car maker private was...
Congressman Indicted on Insider Trading Charges - New York Republican Rep. Chris Collins has been charged with securities fraud, wire fraud and false statements, the Justice Department announced Wednesday. Collins, who was the first sitting member of Congress to endorse Donald Trump's...
SEC Updates List of Firms Using Inaccurate Informa... - The Securities and Exchange Commission today announced that it has updated its list of unregistered firms that use misleading information to primarily solicit non-U.S. investors, adding 16 soliciting entities, four impersonators of genuine firms,...
SEC News - Stock Manipulation, Insider Trading, and Fraud - Recidivist Charged in Stock Manipulation Scheme An individual has been charged with manipulating the stocks of three microcap companies while on supervised release following his criminal conviction for a prior securities fraud. SEC Proposes Rules...
Tesla Whistleblower Claims to be Working with the SEC - In the latest development of the saga of Tesla vs Martin Tripp, the automaker’s former employee being sued for hacking Tesla’s manufacturing software and stealing information, Tripp and his lawyer now claim that they are now working with the SEC,...
Courts Continue to Rein In the SEC - In what might be a boon for financial professionals, the courts continue to impose restrictions on the enforcement efforts of the SEC. In SEC vs. Cohen, Judge Nicholas Garaufis of the US District Court in Brooklyn dismissed the SEC's complaint...
SEC News - Ponzi Scheme, Misleading Customers, Insider Trading - SEC Shuts Down $102 Million Ponzi Scheme The SEC filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S. Merrill Lynch Admits to Misleading...
SEC News - Stock Manipulation, FCPA Violations, and Illegal Sales - SEC Files Additional Charges in Fitbit Stock Manipulation Scheme The SEC filed fraud charges against a second defendant in connection with a scheme to manipulate the price of Fitbit securities through false regulatory filings. Former CEO and CFO...
SEC News - Failure to Supervise, Misleading Clients, and Insider Trading - SEC Charges Merrill Lynch for Failure to Supervise RMBS Traders Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential Mortgage Backed...