The Securities and Exchange Commission today announced charges against El Segundo, California-based Red Rock Secured LLC, its CEO, Sean Kelly, and two of its former Senior Account Executives, Anthony Spencer and Jeffrey Ward, in connection with a… Read the Full Press Release Have a securities law question? Call New York […]
Month: May 2023
Musk Wants to Stop his ‘Twitter Sitter’ Agreement
He tried once before and was denied, but Elon Musk has asked a federal appeals court in New York to throw out his 2018 agreement with US regulators requiring a Tesla Inc. lawyer to screen all his company-related Twitter posts, calling it an illegal limitation on his free-speech rights. Musk, Tesla’s chief executive officer […]
Dutch Medical Supplier Philips to Pay More Than $62 Million to Settle FCPA Charges
The Securities and Exchange Commission today announced that Amsterdam-based Koninklijke Philips N.V. will pay more than $62 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) with respect to conduct related to its sales… Read the Full Press Release Have a securities law question? Call New […]
HSBC Securities and Scotia Capital Fined $15M and $7.5M Respectively by SEC for Recordkeeping Failures
On May 11, 2023, the SEC charged HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. for their employees’ longstanding and widespread failures to preserve and maintain electronic communications. To settle the charges, HSBC and Scotia admitted that their conduct violated recordkeeping provisions of the federal securities laws and agreed […]
SEC Awards More Than $12 Million to Two Whistleblowers
SEC Awards Over $12 Million to Two Whistleblowers for Their Assistance in Successful Enforcement Action March 31, 2023 – The SEC announced that it had awarded more than $12 million to two whistleblowers who had provided valuable information and assistance in a successful SEC enforcement action. The awards were made […]
SEC Charges Three Executives at U.S. Navy Shipbuilder Austal USA with Accounting Fraud
The Securities and Exchange Commission today charged three executives of Mobile, Alabama-based shipbuilder, Austal USA LLC, for orchestrating a fraudulent revenue recognition scheme that allowed its parent company to meet or exceed analyst expectations… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at […]
Mark Reinhold Named SEC Chief Human Capital Officer
The Securities and Exchange Commission today announced that Mark D. Reinhold has been named the agency’s Chief Human Capital Officer and Director of the Office of Human Resources. He has served as the acting head of the office since October 2022. Mr.… Read the Full Press Release Have a securities […]
SEC to Highlight Free Investor Education Resources During Financial Capability Month
The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today announced that its theme for April’s National Financial Capability Month is, “Investing for everyone.” All month long, SEC leadership and staff will promote… Read the Full Press Release Have a securities law question? Call New York Securities […]
SEC Charges Chatham Asset Management and Founder Anthony Melchiorre for Improper Fixed Income Securities Trading
The Securities and Exchange Commission today charged New Jersey-based Chatham Asset Management LLC and its founder, Anthony Melchiorre, in connection with improper trading of certain fixed income securities. Chatham and Melchiorre agreed to pay more than… Read the Full Press Release Have a securities law question? Call New York Securities […]
SEC Charges Merrill Lynch for Failing to Disclose Foreign Exchange Fees to Clients
The Securities and Exchange Commission today charged Merrill Lynch, Pierce, Fenner & Smith Incorporated for charging advisory clients more than $4 million in undisclosed foreign exchange fees for transfers to or from their accounts. To settle the… Read the Full Press Release Have a securities law question? Call New York […]
