The Law of the Financial Markets from Top Securities Lawyers
Wednesday, January 15, 2025
The SEC has announced today that United Parcel Service Inc. (UPS) has settled charges for misleading investors by failing to adhere to generally accepted accounting principles (GAAP) in valuing one of its underperforming business units, UPS Freight. Key Details of the Misrepresentation Inflated Valuation of UPS Freight in 2019 […]
In a recent enforcement action, the U.S. Securities and Exchange Commission (SEC) penalized Invesco Advisers, Inc., accusing the investment management firm of making deceptive claims regarding the percentage of its assets under management (AUM) that incorporated environmental, social, and governance (ESG) factors. This Atlanta-based investment adviser agreed to a $17.5 […]
Oct. 31, 2024 — The Securities and Exchange Commission today charged J.P. Morgan Securities LLC (JPMS) and J.P. Morgan Investment Management Inc. (JPMIM) – both affiliates of JPMorgan Chase & Co. (JP Morgan) – in five separate enforcement actions for failures including misleading disclosures to investors, breach of fiduciary duty, […]
Introduction to the SEC‘s Recent Cybersecurity Charges The Securities and Exchange Commission (SEC) recently announced charges against four major corporations: Unisys Corp., Avaya Holdings Corp., Check Point Software Technologies Ltd, and Mimecast Limited. These companies were accused of making materially misleading disclosures regarding cybersecurity risks and incidents. Additionally, Unisys faced […]
SEC Awards $12 Million to Whistleblowers Exposing Penny Stock Fraud Last week, the Securities and Exchange Commission (SEC) awarded $12 million to three whistleblowers who provided crucial information leading to the agency’s enforcement action against a penny stock fraud operation. This high-profile case underscores the SEC’s commitment to combating financial […]
The Securities and Exchange Commission today adopted amendments to certain rules under Regulation NMS to adopt an additional minimum pricing increment, or “tick size,” for the quoting of certain NMS stocks, reduce the access fee caps for protected… SEC Press Release
SEC Adopts New Rule Increasing Threshold for Venture Capital Funds The Securities and Exchange Commission (SEC) has adopted a new rule that updates the dollar threshold for a fund to qualify as a “qualifying venture capital fund” under the Investment Company Act of 1940. This rule raises the threshold to […]
SEC Takes Action Against Carl Icahn and Icahn Enterprises L.P. The Securities and Exchange Commission (SEC) recently announced significant charges against Carl C. Icahn and his publicly traded company, Icahn Enterprises L.P. (IEP). These charges stem from Icahn’s failure to disclose critical information regarding his use of IEP securities as […]
SEC Halts Alleged $300 Million Ponzi Scheme by Drive Planning LLC and CEO Russell Todd Burkhalter The Securities and Exchange Commission (SEC) has obtained a preliminary injunction and asset freeze against Atlanta-based Drive Planning LLC and its founder and CEO, Russell Todd Burkhalter, to stop a $300 million real estate […]
On August 14, 2024 the SEC announced settlements with 26 broker-dealers, investment advisers, and dual registrants for failures in maintaining and preserving electronic communications. Mark Astarita, a securities defense attorney with Sallah Astarita & Cox, LLC, commented, “We have been telling firms for over a year to review their policies […]
