Washington D.C., Oct. 15, 2021 — The Securities and Exchange Commission today announced awards of approximately $40 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action. The first whistleblower, whose information caused the opening of the investigation and exposed difficult-to-detect violations, will receive an award of approximately […]
SEC News
SEC Reopens Comment Period for Listing Standards for Recovery of Erroneously Awarded Compensation
Washington D.C., Oct. 14, 2021 — The Securities and Exchange Commission today reopened the comment period on proposed rules for listing standards for the recovery of erroneously awarded compensation. “I support today’s action to reopen comment on the Dodd-Frank Act rule regarding clawbacks of incentive-based executive compensation,” said SEC Chair Gary Gensler. “I believe we […]
SEC Modernizes Filing Fee Disclosure and Payment Methods
Amendments Will Help Automate Filing Fee Calculation and Validation, Update Fee Payment Options Washington D.C., Oct. 13, 2021 — The Securities and Exchange Commission today adopted amendments to modernize filing fee disclosure and payment methods. Operating companies and investment companies (funds) pay filing fees when engaging in certain transactions, including registered securities offerings, tender offers, […]
SEC Charges Hemp Company and Co-Founders With Fraud
Washington D.C., Oct. 5, 2021 — The Securities and Exchange Commission today charged CanaFarma Hemp Products Corp. and its co-founders with fraudulently raising approximately $15 million from investors, and misappropriating a significant portion of the investor funds for personal use and other unrelated purposes. The SEC’s complaint alleges that in 2019 and 2020, CanaFarma, a […]
SEC Highlights Investor Protection for World Investor Week 2021
Washington D.C., Oct. 4, 2021 — The Securities and Exchange Commission today announced that it will highlight investor education and protection resources during World Investor Week 2021 (WIW). This marks the fifth year of WIW, a global effort promoted by the International Organization of Securities Commissions (IOSCO) that brings together regulators on six continents to […]
SEC Charges Webcast Host for Role in Market Manipulation Scheme
Washington D.C., Oct. 1, 2021 — The Securities and Exchange Commission yesterday announced charges against Mark Melnick, the host of a stock trading webcast, for spreading more than 100 false rumors about public companies in order to generate illicit profits. The SEC previously charged Barton Ross for his role in this scheme. According to the […]
SEC Charges Rogue Trader Who Bankrupted His Firm
Washington D.C., Sept. 30, 2021 — The Securities and Exchange Commission today charged Keith A. Wakefield, a former managing director and head of fixed income trading at IFS Securities, Inc., an Atlanta-based broker-dealer, with causing millions of dollars of losses through unauthorized trading in fixed income securities, and with fraudulently obtaining approximately $820,000 in fictitious […]
SEC Charges Former Executives of Registered Investment Adviser with Fraud
Washington D.C., Sept. 30, 2021 — The Securities and Exchange Commission today charged Robert D. Press, the former CEO of the advisory firm TCA Fund Management Group Corp., and Donna M. Silverman, TCA’s former chief portfolio manager, for their roles in the firm’s scheme to artificially inflate the net asset values and performance results of […]
SEC Charges Investment Bank Compliance Analyst with Insider Trading in Parents’ Accounts and Obtains Asset Freeze
Washington D.C., Sept. 29, 2021 — The Securities and Exchange Commission today charged Jose Luis Casero Sanchez, a Spanish national and former Senior Compliance Analyst who worked in the Warsaw, Poland office of an international investment bank, with insider trading in advance of at least 45 corporate events involving the investment bank’s clients. The SEC […]
SEC Proposes to Enhance Proxy Voting Disclosure by Investment Funds and Require Disclosure of “Say-on-Pay” Votes for Institutional Investment Managers
Washington D.C., Sept. 29, 2021 — The Securities and Exchange Commission today proposed amendments to Form N-PX to enhance the information mutual funds, exchange-traded funds, and certain other funds report about their proxy votes. The proposed rulemaking would require funds to tie the description of each voting matter to the issuer’s form of proxy and […]