SEC News

SEC Awards $40 Million to Two Whistleblowers

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 News

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 News

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 News

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 News

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 News

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 […]