SEC News

SEC Awards Approximately $3.6 Million to Whistleblower

The Securities and Exchange Commission today announced an award of approximately $3.6 million to a whistleblower whose information and assistance led to a successful SEC enforcement action.  “The whistleblower brought valuable information to the attention of the SEC, causing it to open a new investigation into wrongdoing,” said Emily Pasquinelli, Acting Chief of the SEC’s […]

SEC News

SEC Charges Broker-Dealer for Failures Related to Filing Suspicious Activity Reports

The Securities and Exchange Commission today announced settled charges against GWFS Equities Inc. (GWFS), a Colorado-based registered broker-dealer and affiliate of Great-West Life & Annuity Insurance Company, for violating the federal securities laws governing the filing of Suspicious Activity Reports (SARs). GWFS provides services to employer-sponsored retirement plans.  According to the SEC’s order, from September […]

SEC News

SEC Awards $22 Million to Two Whistleblowers

The Securities and Exchange Commission today announced awards totaling approximately $22 million to two whistleblowers whose information and assistance were of crucial importance to successful SEC enforcement actions brought against a financial services firm.  The first whistleblower received an award of $18 million, while the second whistleblower received a $4 million award.  The larger award […]

SEC News

SEC Approves Registration of First Security-Based Swap Data Repository; Sets the First Compliance Date for Regulation SBSR

The Securities and Exchange Commission today announced that it has approved the registration of its first security-based swap data repository (SDR). With today’s registration of DTCC Data Repository (U.S.), LLC (DDR), the security-based swap market now has the first SDR that can accept transaction reports. DDR intends to operate as a registered SDR for security-based […]

SEC News

Register for the SEC’s 40th Annual Small Business Forum, Featuring Inclusive Conversations on Capital Formation from Startup to Small Cap

The Office of the Advocate for Small Business Capital Formation will host the Securities and Exchange Commission’s 40th Annual Government-Business Forum on Small Business Capital Formation virtually from May 24-27, 2021.  Each of the four sessions will feature panelists with in-depth knowledge of the issues facing small businesses across the country, spotlighting the following topics: Monday, […]

SEC News

SEC Charges Under Armour Inc. With Disclosure Failures

The Securities and Exchange Commission today charged sports apparel manufacturer Under Armour Inc. with misleading investors as to the bases of its revenue growth and failing to disclose known uncertainties concerning its future revenue prospects. Under Armour has agreed to pay $9 million to settle the action. According to the SEC’s order, by the second half […]

SEC News

Jessica Wachter Named SEC Chief Economist and Director of the Division of Economic and Risk Analysis

The Securities and Exchange Commission today announced that Jessica Wachter has been appointed Chief Economist and Director of the Division of Economic and Risk Analysis (DERA). Wachter joins the SEC from the Wharton School, University of Pennsylvania, where she has been a professor since 2003. “For centuries, capital markets have evolved by adapting to technological […]

SEC News

SEC Charges Eight Companies for Failure to Disclose Complete Information on Form NT

The Securities and Exchange Commission today charged eight companies for failing to disclose in SEC Form 12b-25 filings that their request for seeking a delayed quarterly or annual reporting filing was caused by an anticipated restatement or correction of prior financial reporting. The violations were uncovered by an initiative focused on Form 12b-25 filings by companies […]