SEC News

SEC Charges Lawyer and Her Husband in EB-5 Fraud

Washington D.C., Oct. 18, 2018 — The Securities and Exchange Commission today charged a California-based immigration attorney and her husband in a fraudulent scheme that generated millions of dollars of undisclosed compensation from foreign investors seeking permanent U.S. residency through the EB-5 Immigrant Investor Program.   The SEC’s complaint alleges that Jean Danhong Chen, Tony Jianyun […]

SEC News

SEC Launches New Strategic Hub for Innovation and Financial Technology

Washington D.C., Oct. 18, 2018 — The U.S. Securities and Exchange Commission today announced the launch of the agency’s Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will serve as a resource for public engagement on the SEC’s FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, […]

SEC News

SEC Charges Investment Adviser With Stealing From Friends, Community Members

Washington D.C., Oct. 17, 2018 — The Securities and Exchange Commission today announced charges against an investment adviser with a history of violating the securities laws for defrauding his close friends and community members.   According to the SEC’s complaint filed Tuesday, from at least 2014 through at least 2017, Bruce J. Fixelle solicited investments from close friends he […]

SEC News

SEC Investigative Report: Public Companies Should Consider Cyber Threats When Implementing Internal Accounting Controls

Washington D.C., Oct. 16, 2018 — The Securities and Exchange Commission today issued an investigative report cautioning that public companies should consider cyber threats when implementing internal accounting controls. The report is based on the SEC Enforcement Division’s investigations of nine public companies that fell victim to cyber fraud, losing millions of dollars in the […]

SEC News

SEC Suspends Former BDO Accountants for Improperly “Predating” Audit Work Papers

Washington D.C., Oct. 12, 2018 — The Securities and Exchange Commission today suspended three former BDO USA LLP accountants for their improper professional conduct during an audit of an exchange-listed insurance company. According to the SEC’s order, BDO fell behind schedule while conducting its 2013 integrated audit of AmTrust Financial Services Inc. and ultimately failed […]

SEC News

SEC’s New Strategic Plan Puts Investors, Innovation, and Performance at Top

Washington D.C., Oct. 11, 2018 — The Securities and Exchange Commission today announced a new strategic plan to guide the agency’s work over the next four years with a primary focus on investors, innovation, and performance. The plan’s goals reflect the agency’s commitment to its longstanding mission while leveraging the opportunities and addressing the challenges […]

SEC News

SEC Reopens Comment Period for Capital, Margin, and Segregation Requirements for Security-Based Swap Dealers and Major Security-Based Swap Participants

Washington D.C., Oct. 11, 2018 — The Securities and Exchange Commission today voted to reopen the comment period and request additional comment (including potential modifications to proposed rule language) on the proposed rules and amendments for capital, margin, and segregation requirements for security-based swap dealers and major security-based swap participants and capital requirements for broker-dealers.  “Reopening […]

SEC News

Gary Goldsholle, Former Deputy Director, Current Senior Policy Adviser in the Division of Trading and Markets, to Leave the SEC

Washington D.C., Oct. 10, 2018 — The Securities and Exchange Commission today announced that Gary Goldsholle, a senior policy adviser in the Division of Trading and Markets, will leave the agency on Oct. 12.  Mr. Goldsholle joined the SEC staff in 2015 as a deputy director in the Division of Trading and Markets with responsibility for its […]