The Securities and Exchange Commission today filed charges against broker-dealer Virtu Americas LLC and its parent company, Virtu Financial Inc. (collectively, Virtu), for making materially false and misleading statements and omissions regarding… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
Month: September 2023
SEC Charges Alternative Investment Platform YieldStreet for Misleading Investors
The Securities and Exchange Commission today announced a settled action against New York-based YieldStreet Inc. and its registered investment adviser subsidiary, YieldStreet Management LLC (together, YieldStreet), for failing to disclose critical… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
SEC Charges National Office Partner at Marcum for Causing Widespread Quality Control Deficiencies
The Securities and Exchange Commission today charged Alfonse Gregory Giugliano, CPA, the former National Assurance Services Leader at Marcum LLP, a public accounting firm, with failing to sufficiently address and remediate numerous deficiencies in Marcum… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers […]
SEC Sweep into Marketing Rule Violations Results in Charges Against Nine Investment Advisers
The Securities and Exchange Commission today announced charges against nine registered investment advisers for advertising hypothetical performance to the general public on their websites without adopting and/or implementing policies and procedures… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
Monolith Resources Settles SEC Charges Violating Whistleblower Protection Rules
Sept. 8, 2023 — The Securities and Exchange Commission (SEC) has announced settled charges against Monolith Resources LLC, a privately held energy and technology company headquartered in Lincoln, Nebraska. The charges stem from Monolith’s use of employee separation agreements that violated the SEC’s whistleblower protection rules. Protection of Whistleblowers is […]
Linus Financial Agrees to Settle SEC Charges of Unregistered Offer and Sale of Securities
In the appropriate case in our securities defense practice, we sometimes advise clients to self-report a violation and the client’s efforts to correct the violation. The rationale is that the SEC views self-reporting in a positive light when determining sanctions, and the reporting can avoid lengthy and costly investigations and […]
SEC Charges Fluor Corp. for Accounting Improprieties
The Securities and Exchange Commission today announced that Irving, Texas-based Fluor Corporation will pay $14.5 million to settle charges stemming from the company’s improper accounting on two large-scale, fixed-price construction projects. Five former… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
SEC Approves Funding Amendment to National Market System Plan Governing the Consolidated Audit Trail
The Securities and Exchange Commission today approved an amendment to the National Market System Plan governing the Consolidated Audit Trail (CAT) (the “CAT NMS Plan”) to adopt a revised funding model, called the “Executed Share Model,” for the CAT… Read the Full Press Release Have a securities law question? Call New […]
SEC Charges Five Advisory Firms for Custody Rule Violations
We continue to see investigations of advisory firms for violations of the Custody Rule, which has specific requirements for the handling and reporting for firms that hold customer funds. The SEC has an extensive FAQ regarding the rule and the requirements for compliance. As always we are available to assist […]
SEC Charges Private Equity Firm Prime Group for Inadequate Disclosure of Fees Paid to Affiliate
The SEC has taken action against Prime Group Holdings LLC, a private equity firm specializing in alternative real estate assets. The SEC’s charges revolve around the firm’s failure to provide adequate disclosure concerning substantial real estate brokerage fees paid to an affiliate, owned by Prime Group’s CEO.
