The Securities and Exchange Commission 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 $32 million. […]
Month: October 2021
SEC Reopens Comment Period for Listing Standards for Recovery of Erroneously Awarded Compensation
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… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Modernizes Filing Fee Disclosure and Payment Methods
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… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
EDGAR – The SEC Public Company Database
EDGAR—The Electronic Data Gathering, Analysis, and Retrieval system is a database system used by the SEC that requires all public companies and certain individuals to submit required, time-sensitive documents to the U.S. Securities and Exchange Commission. The database is a trove of information regarding public companies, their financials, quarterly filings, […]
SEC Charges Hemp Company and Co-Founders With Fraud
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… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at […]
Here They Come – Trader Settles SEC Charges Regarding “Meme Stocks”
It didn’t take long for the SEC to target meme stock traders. The SEC filed charges in New Jersey alleging that the defendant became aware of the increased market volume and volatility driven by so-called “meme stocks” – stocks that were being actively promoted on social media platforms. He allegedly […]
SEC Bars Two Individuals from Whistleblower Award Program
In an unusual move, the SEC barred two individuals from the SEC’s whistleblower award program, each of whom filed hundreds of frivolous award applications. The bars were issued pursuant to the 2020 amendments to the Whistleblower Program Rules, which were designed to allow the whistleblower program to operate more effectively […]
Bloomberg Claims – Is the Stock Market Rigged? Most People Think So – We Don’t.
There was an interesting article at Bloomberg.com, which contends that insider trading is everywhere, and no one seems to care.
Having spent the better part of three decades as a securities attorney, and an investor, it seems to me that all three statements are not true. The stock market is not rigged, insider trading is not everywhere, and lots of people care about insider trading.
SEC Charges Investment Bank Compliance Analyst with Insider Trading in Parents’ Accounts and Obtains Asset Freeze
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… Read the Full Press Release Have a securities law question? Call Sallah […]
Rogue Trader Settles Enforcement Action, Criminal Charges Pending
The SEC filed charges against Keith A. Wakefield, a former managing director and head of fixed-income trading at IFS Securities, Inc., an Atlanta-based broker-dealer, causing millions of dollars of losses through unauthorized trading in fixed income securities, and with fraudulently obtaining approximately $820,000 in fictitious commission income. According to the […]