The Securities and Exchange Commission today filed settled charges against Houston-based biotherapeutics company Kiromic BioPharma, Inc., its former CEO, Maurizio Chiriva-Internati, and its former chief financial officer, Tony Tontat, for failing to… SEC Press Release
Enforcement
SEC Investor Advisory Committee to Examine Mandatory Arbitration Clauses in Adviser Agreements and Alternative Assets and Retail Investors at December 10 Meeting
The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on Dec. 10, 2024, at 10 a.m. ET. The meeting will be webcast on the SEC website. The committee will host two panels: Examining the Use of… SEC Press Release
SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 14 soliciting entities, two impersonators of genuine firms, and four… SEC Press Release
SEC Charges Ken Leech, Former Co-Chief Investment Officer of Western Asset Management Co., with Fraud
The Securities and Exchange Commission today announced fraud charges against Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment adviser Western Asset Management Company LLC or WAMCO, for engaging in a… SEC Press Release
UPS to Pay $45 Million Penalty for Improperly Valuing Business Unit
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 […]
SEC Charges Three Broker-Dealers with Filing Deficient Suspicious Activity Reports
SEC Charges Webull, Lightspeed, and Paulson Investment Over Deficient Suspicious Activity Reports Broker-Dealers Face Combined $275,000 Penalty for SARs Violations On November 22, 2024, the Securities and Exchange Commission (SEC) disclosed that three prominent broker-dealers—Webull Financial LLC, Lightspeed Financial Services Group LLC, and Paulson Investment Company, LLC—settled charges related to […]
SEC Announces Enforcement Results for Fiscal Year 2024
The Securities and Exchange Commission (SEC) unveiled its enforcement results for fiscal year 2024, achieving historic financial remedies of $8.2 billion while filing 583 enforcement actions. While the release has tones of a self-promoting puff piece, here is a summary of what the SEC claims it has accomplished in 2024 […]
SEC Chair Gensler to Depart Agency on January 20
The Securities and Exchange Commission today announced that its 33rd Chair, Gary Gensler, will step down from the Commission effective at 12:00 pm on January 20, 2025. Chair Gensler began his tenure on April 17, 2021, in the immediate aftermath of the… SEC Press Release
SEC Charges Advisory Firm La Mancha and its Owner David Kushner with Fraud
The Securities and Exchange Commission today charged David Kushner, a resident of Boca Raton, Florida, and his company La Mancha Funding Corp. with defrauding nearly two dozen investors out of approximately $2.1 million in a series of private securities… SEC Press Release
SEC Charges Three Senior Executives in Two Actions Alleging Massive Bribery Scheme Involving Indian Energy Companies Adani Green and Azure Power
The Securities and Exchange Commission today charged Gautam Adani and Sagar Adani, executives of Adani Green Energy Ltd., and Cyril Cabanes, an executive of Azure Power Global Ltd., for conduct arising out of a massive bribery scheme. According to the… SEC Press Release
