Silicon Valley Company Settles Fraud Charge for Misstating Returns to Investors - The Securities and Exchange Commission today announced that Prosper Funding LLC will pay a $3 million penalty for miscalculating and materially overstating annualized net returns to retail and other investors. San Francisco-based Prosper is a...
SEC and FINRA to Hold National Compliance Outreach Program for Broker-Dealers on June 27, 2019 - The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) today announced the opening of registration for their 2019 National Compliance Outreach Program for Broker-Dealers, which...
Sara Cortes and David Bartels Named Deputy Chief Counsels of the Division of Investment Management - The Securities and Exchange Commission today announced that Sara Cortes and David P. Bartels have been named Deputy Chief Counsels of the Division of Investment Management. As Deputy Chief Counsels, Ms. Cortes and Mr. Bartels will join a...
SEC Charges Former Woodbridge Directors of Investment With Fraud - The Securities and Exchange Commission today charged two former directors of investments at Woodbridge Group of Companies LLC for their roles in its massive Ponzi scheme. The defendants, California-based Ivan Acevedo and Dane R....
SEC Issues Agenda for April 15 Meeting of the Fixed Income Market Structure Advisory Committee - The Securities and Exchange Commission today released the agenda for the April 15 meeting of the Fixed Income Market Structure Advisory Committee. The Commission established the advisory committee to provide a formal mechanism through which...
SEC Charges Former SeaWorld Associate General Counsel With Insider Trading - The Securities and Exchange Commission today charged a former senior lawyer at SeaWorld Entertainment Inc. with insider trading based on nonpublic information that the company’s revenue would be better than anticipated for the second quarter of...
New SEC Campaign Educates Investors on Where and How to Get Answers - The Securities and Exchange Commission today unveiled a public service campaign to empower Main Street investors to take control of their financial future. The public service announcement (PSA) encourages investors to use the free tools and...
SEC Charges Transportation Company Executives With Accounting Fraud - The Securities and Exchange Commission today charged the former CFO and two former employees of a publicly traded transportation company with fraud for manipulating the company’s financial results in order to meet earnings targets and projections....
SEC Charges Former CEO of Silicon Valley Startup With Defrauding Investors - The Securities and Exchange Commission today charged the founder and former chief executive of a Silicon Valley startup with defrauding investors in Jumio Inc., a private mobile payments company. The former CEO, Daniel Mattes, agreed to pay more...
Spring Lake Councilman Charged with Fraud Scheme - Spring Lake Heights Councilman Richard Diver (since resigned) has been charged by the Securities and Exchange Commission for ‘aiding and abetting’ an advisory firm in overbilling its clients as part of a fraudulent scheme to inflate his own pay....