SEC Chair Gary Gensler has directed the staff to carefully monitor developments as a result of Hurricane Ida making landfall on Aug. 29, 2021. The safety of local residents is our highest priority. We invite inquiries from any person with obligations… Read the Full Press Release Have a securities law […]
Month: August 2021
SEC Announces Three Actions Charging Deficient Cybersecurity Procedures
The Securities and Exchange Commission today sanctioned eight firms in three actions for failures in their cybersecurity policies and procedures that resulted in email account takeovers exposing the personal information of thousands of customers and… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
SEC Requests Information and Comment on Broker-Dealer and Investment Adviser Digital Engagement Practices, Related Tools and Methods, and Regulatory Considerations and Potential Approaches; Information and Comments on Investment Adviser Use of Technology
The Securities and Exchange Commission today announced that it is requesting information and public comment on matters related to the use of digital engagement practices by broker-dealers and investment advisers. These tools include behavioral prompts,… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
SEC Issues Whistleblower Awards Totaling $2.6 Million
The Securities and Exchange Commission today announced awards of approximately $2.6 million to five whistleblowers who provided information and assistance in three separate enforcement proceedings. In the first order, the SEC awarded approximately $1.2 million to a whistleblower who provided valuable independent analysis based upon a complex algorithm the whistleblower […]
SEC Obtains Emergency Relief, Charges Investment Adviser and Its Principal with Operating $110 Million Ponzi Scheme
On Aug. 20, 2021, the Securities and Exchange Commission filed an emergency action to stop a fraudulent Ponzi scheme allegedly perpetrated by Marietta, Georgia resident John Woods and two entities he controls: registered investment adviser Livingston… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Charges Underwriter and Its Former CEO With Misconduct In Muni Bond Tender Offer
The Securities and Exchange Commission today instituted settled charges against Crews & Associates Inc., an Arkansas-based broker-dealer, and its former CEO, Rush F. Harding III, for unfair dealing in connection with a municipal bond tender offer.… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Charges Former CEO of Technology Company With $80 Million Fraud
The Securities and Exchange Commission today charged Manish Lachwani, the former CEO of HeadSpin Inc., a Silicon Valley-based private technology company, with defrauding investors out of $80 million by falsely claiming that the company had achieved… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Charges Healthcare Services Company and CFO for Failing to Accurately Report Loss Contingencies as part of Continuing EPS Initiative
The Securities and Exchange Commission today announced that Pennsylvania-based Healthcare Services Group, Inc. has agreed to pay $6 million to settle charges that the company engaged in accounting and disclosure violations that enabled the company to… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Enforcement Chief Counsel Joe Brenner Retires
The Securities and Exchange Commission announced that Joseph K. Brenner has retired as the Chief Counsel of the Division of Enforcement, a role he held since January 2011. As Chief Counsel, Mr. Brenner served as the head of the Division of Enforcement’s… Read the Full Press Release Have a securities […]
U.S. Securities and Exchange Commission and the European Central Bank Sign Memorandum of Understanding Regarding Cooperation with Respect to Security-Based Swap Entities
The Securities and Exchange Commission and the European Central Bank (ECB) today announced the signing of a Memorandum of Understanding (MOU) to consult, cooperate, and exchange information in connection with the supervision, enforcement, and oversight… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
