Washington D.C., Feb. 21, 2019 — The Securities and Exchange Commission today announced that Giles Cohen has been named Acting Chief Counsel, Office of the Chief Accountant (OCA). Mr. Cohen joined the SEC in 2005 as senior counsel in the Division of Enforcement, and later served as counsel in the Office of Commissioner Luis Aguilar. Mr. […]
SEC News
SEC Names James P. McNamara as Chief Human Capital Officer
Washington D.C., Feb. 21, 2019 — The Securities and Exchange Commission today announced that James P. McNamara has been named the agency’s Chief Human Capital Officer (CHCO) and Director of the Office of Human Resources (OHR). Mr. McNamara has served as Acting CHCO since April 2018. As CHCO, Mr. McNamara will manage the agency’s human […]
SEC Charges Broker-Dealer and Transfer Agent in Microcap Shell Factory Fraud
Washington D.C., Feb. 20, 2019 — The Securities and Exchange Commission today announced charges against a broker-dealer, a transfer agent, and three individuals for their roles in the creation of over a dozen undisclosed “blank check” companies from 2009 to 2014. In its complaint, the SEC alleges that broker-dealer Spartan Securities Group, Ltd. and transfer […]
Company Settles Unregistered ICO Charges After Self-Reporting to SEC
Washington D.C., Feb. 20, 2019 — The Securities and Exchange Commission today charged Gladius Network LLC with conducting an unregistered initial coin offering (ICO), which the company self-reported to the SEC. According to the SEC’s order, Gladius conducted an ICO in late 2017, after the Commission had warned in its DAO Report of Investigation […]
SEC Proposes to Expand “Test-the-Waters” Modernization Reform to All Issuers
Washington D.C., Feb. 19, 2019 — The Securities and Exchange Commission voted to propose an expansion of a popular modernization reform that would permit investor views about potential offerings to be taken into account at an earlier stage in the process than is the case today. The new rule and related amendments would expand the “test-the-waters” accommodation—currently available […]
SEC Files Charges in Elaborate Microcap Stock Fraud
Washington D.C., Feb. 15, 2019 — The Securities and Exchange Commission today announced charges against four individuals and related businesses for their roles in two microcap frauds and unlawful securities offerings. In sum, the alleged illegal transactions resulted in proceeds of more than $25 million. According to the SEC’s complaint, from approximately December 2012 to […]
SEC Charges Cognizant and Two Former Executives With FCPA Violations
Washington D.C., Feb. 15, 2019 — Cognizant Technology Solutions Corporation has agreed to pay $25 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA), and two of the company’s former executives were charged for their roles in facilitating the payment of millions of dollars in a bribe to an Indian government […]
SEC Extends Comment Period for Rulemaking Proposal Regarding Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts
Washington D.C., Feb. 14, 2019 — The Securities and Exchange Commission today announced that it is extending for one month the comment period on the proposed rulemaking to amend rules and forms to help investors make informed investment decisions regarding variable annuity and variable life insurance contracts that was published in the Federal Register on November […]
SEC Charges Former Senior Attorney at Apple With Insider Trading
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Deloitte Japan Charged With Violating Auditor Independence Rules
Washington D.C., Feb. 13, 2019 — The Securities and Exchange Commission today announced that Deloitte Touche Tohmatsu LLC (Deloitte Japan) will pay $2 million to settle charges that it issued audit reports for an audit client at a time when dozens of its employees maintained bank accounts with the client’s subsidiary. According to the SEC’s […]