The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation issued its 2023 Annual Report today to Congress and the Commission. The report details how entrepreneurs and investors are building companies together,… SEC Press Release
Month: December 2023
SEC Obtains Emergency Relief to Halt $191 Million Cattle Ponzi Scheme
SEC‘s Emergency Action The U.S. Securities and Exchange Commission (SEC) has taken decisive action against a large-scale Ponzi scheme. They have obtained a temporary restraining order, asset freeze, and the appointment of a receiver to halt the operations of Agridime LLC and its owners, Josh Link and Jed Wood. Details […]
SEC Approves 2024 PCAOB Budget and Accounting Support Fee
The Securities and Exchange Commission today approved the 2024 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee. The 2024 PCAOB budget totals $384.7 million, and the accounting support fee… SEC Press Release
Credit Suisse Entities to Pay $10 Million for Providing Prohibited Mutual Fund Services
Overview of the SEC Enforcement Action The Securities and Exchange Commission (SEC) announced an enforcement action against Credit Suisse Securities (USA) LLC and its affiliates, collectively referred to as the Credit Suisse Entities. This action, resulting in a settlement exceeding $10 million, stems from the entities’ engagement in prohibited underwriting […]
Unregistered Brokers and Companies Face SEC Charges in $525 Million Pre-IPO Fraud Scandal
The SEC has taken action against five unregistered brokers and four companies based in New Jersey and New York relating their alleged involvement in a widespread fraudulent scheme related to investments in pre-initial public offering companies (pre-IPO). According to the SEC the scheme has had far-reaching consequences, resulting in over […]
SEC Investor Advocate’s Recommendations on Arbitration and Index-Linked Annuities
Washington D.C., Dec. 5, 2023 — In a move towards transparency and investor empowerment, the Securities and Exchange Commission’s Office of the Investor Advocate has released its comprehensive Report on Activities for the Fiscal Year 2023. This document not only outlines the Office’s accomplishments during the fiscal year but also […]