SEC News

SEC Charges Empires Consulting Corp. with Fake Trading Scheme

As scheme collapsed, defendants stopped investor withdrawals and relocated to Brazil The Securities and Exchange Commission today announced fraud charges against Empires Consulting Corp. (EmpiresX), its founders Emerson Sousa Pires and Flavio Mendes Goncalves, and its head trader Joshua David Nicholas, for a scheme that allegedly raised at least $40 million by luring investors with […]

SEC News

Mark T. Uyeda Sworn In as SEC Commissioner

The Securities and Exchange Commission today announced Mark T. Uyeda has been sworn into office as a Commissioner by Brian Johnson, Assistant Director of the Division of Investment Management’s Rulemaking Office. Commissioner Uyeda was nominated by President Biden earlier this year and confirmed by the U.S. Senate on June 16. “I’m honored to welcome Mark […]

FCA News

Finding opportunity in a world of uncertainty

Speaker: Sarah Pritchard, Executive Director, MarketsEvent: CityUK Annual Conference at The QEII Centre, WestminsterDelivered: 30 June 2022Note: This is a drafted speech and may differ from the delivered version Highlights Underpinning every action we take, are our three core aims: reducing and preventing serious harm, setting and testing higher standards and promoting competition and positive […]

FCA News

FCA resolves High Court proceedings in relation to unauthorised deposit taking

The FCA began court proceedings in December 2019 against Bright Management and six defendants for taking money from the public for different projects, including forex and crypto-asset trading, without the required FCA authorisation. The FCA also alleged misleading statements and marketing about the nature of the investments Bright Management was offering. The FCA sought orders […]

Regulatory News

Central Bank of Ireland hosts inaugural meeting of the Climate Forum and publishes Sustainable Investment Charter

Climate Forum will meet twice yearly and brings together climate change experts, industry representative bodies, regulated firms, and Central Bank representatives. Central Bank also publishes its first Sustainable Investment Charter. Charter provides a guide to apply sustainable investment principles to the Central Bank’s investment assets. The Central Bank of Ireland has hosted the inaugural meeting […]

SEC News

UBS to Pay $25 Million to Settle SEC Fraud Charges Involving Complex Options Trading Strategy

The Securities and Exchange Commission today announced that UBS Financial Services Inc. has agreed to pay approximately $25 million to settle fraud charges relating to a complex investment strategy referred to as YES, or Yield Enhancement Strategy. According to the SEC’s order, UBS marketed and sold YES to approximately 600 investors through its platform of […]