They continue to attempt to expand insider trading prohibitions and to do so by bringing lawsuits based on new theories rather than by legislation. The SEC‘s lawsuit against Matthew Panuwat, a former executive at Medivation Inc., centers on allegations of insider trading termed “shadow trading.” This case, unfolding in San […]
Enforcement
SEC Adopts Reforms Relating to Investment Advisers Operating Exclusively Through the Internet
On March 27, 2024, the Securities and Exchange Commission (SEC) unveiled a set of amendments to internet-based investment advisers’ rules. These changes mark a significant shift in how digital advisory services operate, ensuring that they leverage modern technology to enhance investor protection and regulatory oversight. A Leap Forward for Internet […]
SEC Charges Former Arista Networks Chairman Andy Bechtolsheim with Insider Trading
The Securities and Exchange Commission today announced insider trading charges against Andreas “Andy” Bechtolsheim, the founder and Chief Architect of Silicon Valley-based technology company Arista Networks, Inc. To settle the SEC’s charges, Bechtolsheim… SEC Press Release
SEC Seeks Candidates for Investor Advisory Committee
The Securities and Exchange Commission is seeking five candidates for appointment to the Investor Advisory Committee to help protect investors and improve securities regulations. The Committee was established under the Dodd-Frank Wall Street Reform and… SEC Press Release
Genesis Agrees to Pay $21 Million Penalty to Settle SEC Charges
Genesis Global Capital Fined $21 Million for Unregistered Crypto Lending Genesis Global Capital, LLC has been hit with a hefty $21 million civil penalty by the Securities and Exchange Commission (SEC). This comes as a settlement to charges that Genesis was involved in the unregistered offering and sale of securities […]
SEC, NASAA, and Georgia Secretary of State to Host Investor Roundtables at University of North Georgia and Dalton State College
The Securities and Exchange Commission today announced that it will join the North American Securities Administrators Association (NASAA), the Georgia Secretary of State, the University of North Georgia, and Dalton State College to host joint public… SEC Press Release
SEC Charges Two Investment Advisers with Making False and Misleading Statements About Their Use of Artificial Intelligence
The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their purported use of artificial intelligence (AI).… SEC Press Release
SEC Charges 17 Individuals in $300 Million Crypto Asset Ponzi Scheme Targeting the Latino Community
The Securities and Exchange Commission today charged 17 individuals for their roles in a $300 million Ponzi scheme that involved Houston, Texas-based CryptoFX LLC and targeted more than 40,000 predominantly Latino investors in the U.S. and two other… SEC Press Release
SEC Charges Northern Star SPAC for Material Misrepresentations in its IPO-Related Disclosures
The Securities and Exchange Commission today announced that Northern Star Investment Corp. II, a special purpose acquisition company (SPAC), agreed to settle charges that it made misleading statements in forms filed with the SEC as part of its January… SEC Press Release
SEC Charges 17 Individuals in $300 Million Crypto-Asset Ponzi Scheme Targeting the Latino Community
The Securities and Exchange Commission today charged 17 individuals for their roles in a $300 million Ponzi scheme that involved Houston, Texas-based CryptoFX LLC and targeted more than 40,000 predominantly Latino investors in the U.S. and two other… SEC Press Release