SEC News

SEC Charges AT&T and Three Executives with Selectively Providing Information to Wall Street Analysts

The Securities and Exchange Commission today charged AT&T, Inc. with repeatedly violating Regulation FD, and three of its Investor Relations executives with aiding and abetting AT&T’s violations, by selectively disclosing material nonpublic information to research analysts. According to the SEC’s complaint, AT&T learned in March 2016 that a steeper-than-expected decline in its first quarter smartphone […]

SEC News

SEC Issues Over $5 Million to Joint Whistleblowers Located Abroad

The Securities and Exchange Commission today announced an award of over $5 million to joint whistleblowers whose tip caused the opening of an investigation that resulted in a successful enforcement action. The whistleblowers provided significant information about misconduct abroad that directly supported certain allegations in the enforcement action. “The whistleblowers’ information alerted the staff to […]

SEC News

SEC Investor Advisory Committee to Meet Remotely On March 11

The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting on March 11 by remote means.  The meeting will begin at 10:00 a.m. ET, is open to the public via live webcast, and will be archived on the committee’s website for later viewing. The committee will hold two panel discussions: a follow-on discussion regarding self-directed […]

SEC News

SEC Division of Examinations Announces 2021 Examination Priorities

The Securities and Exchange Commission’s Division of Examinations today announced its 2021 examination priorities, including a greater focus on climate-related risks. The Division will also focus on conflicts of interest for brokers (Regulation Best Interest) and investment advisers (fiduciary duty), and attendant risks relating to FinTech in its initiatives and examinations. The Division publishes its […]

SEC News

SEC Charges Seven Individuals for $45 Million Fraudulent Scheme

The Securities and Exchange Commission today charged seven individuals and a technology company in connection with a fraudulent scheme to gain control of Airborne Wireless Network, promote its stock, and defraud investors. According to the SEC’s complaint, Kalistratos “Kelly” Kabilafkas secretly purchased essentially all the outstanding stock of the shell company now known as Airborne, […]

SEC News

SEC Awards Over $500,000 to Two Whistleblowers

The Securities and Exchange Commission today announced an award of over $500,000 to two whistleblowers whose tips revealed an ongoing fraud and resulted in multiple SEC actions and a related action from another government agency.  Both whistleblowers provided substantial, ongoing assistance that conserved the agencies’ time and resources.  “This case demonstrates once again the value […]

SEC News

Fee Rate Advisory #3 for Fiscal Year 2021

Washington D.C., Feb. 26, 2021 — Pursuant to Section 31(j)(2) of the Securities Exchange Act of 1934, the Commission has determined that a mid-year adjustment to the Section 31 fee rate for fiscal year 2021 is not required. These adjustments do not directly affect the amount of funding available to the SEC. The Section 31 […]

SEC News

SEC Suspends Trading in Multiple Issuers Based on Social Media and Trading Activity

Washington D.C., Feb. 26, 2021 — As part of its continuing effort to respond to potential attempts to exploit investors during the recent market volatility, the Securities and Exchange Commission today suspended trading in the securities of 15 companies because of questionable trading and social media activity. Today’s action follows the recent suspensions of the […]