The Securities and Exchange Commission’s Office of Credit Ratings (OCR) today published its annual Staff Report on Nationally Recognized Statistical Rating Organizations (NRSROs) summarizing the findings of the NRSRO examinations and discussing… SEC Press Release
Enforcement
Advisers Settle SEC Charges for Acting as Unregistered Brokers
SEC Takes Action Against VCP Financial and Investment Advisers for Regulatory Violations Investment Advisers Caught Selling Pre-IPO Investments Without Proper Registration The SEC has announced settled charges against three investment adviser representatives—Tamir Shabat, Danny Z. Spiegel, and Joseph J. Orlando, Jr.—for operating as unregistered brokers while selling membership interests in […]
SEC Monitoring Impact of California Wildfires on Capital Markets
The Securities and Exchange Commission is closely monitoring the impact of the California wildfires on investors and capital markets. The SEC divisions and offices that oversee companies, accountants, investment advisers, mutual funds, brokerage firms,… SEC Press Release
SEC Announces Departure of General Counsel Megan Barbero
The Securities and Exchange Commission today announced that Megan Barbero, who has served as General Counsel since February 2023, will leave the agency on Jan. 20, 2025. Ms. Barbero joined the SEC in July 2021 as Principal Deputy General Counsel. “I… SEC Press Release
SEC Charges Pair of Wells Fargo Advisory Firms and Merrill Lynch with Compliance Failures Relating to Cash Sweep Programs
The Securities and Exchange Commission today announced settled charges against registered investment advisers Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively Wells Fargo Advisors) and against Merrill Lynch,… SEC Press Release
Acting Chairman Mark T. Uyeda Names Acting Senior Staff
The Securities and Exchange Commission today announced Acting Chairman Mark T. Uyeda’s selections for several senior roles in acting capacities across the Commission to fill vacancies created by recent departures. “These talented individuals are… SEC Press Release
SEC Charges LPL Financial with Anti-Money Laundering Violations
The Securities and Exchange Commission today announced charges against broker-dealer and investment adviser LPL Financial LLC for multiple failures related to its anti-money laundering (AML) program. To resolve the SEC’s charges, LPL agreed to pay a… SEC Press Release
SEC Charges GrubMarket with Overstating Revenue to Investors by More Than $500 Million
The Securities and Exchange Commission today announced settled charges against GrubMarket Inc., a private, California-based e-commerce food distributor, for providing investors with financial information that the company should have known was unreliable… SEC Press Release
SEC Charges Paul McCabe and PMAC Consulting with Acting as Unregistered Brokers for Pre-IPO Stocks
The Securities and Exchange Commission today announced that Paul John McCabe Jr. and his unregistered firm PMAC Consulting LLC have agreed to pay $3 million to resolve SEC charges for illegally brokering transactions involving the stock of private… SEC Press Release
SEC Charges Pennsylvania Investment Adviser Scott Mason With Misappropriating More Than $20 Million from Advisory Clients
The Securities and Exchange Commission today charged former Pennsylvania-based investment adviser Scott J. Mason, and his companies Rubicon Wealth Management LLC and Orchard Park Real Estate Holdings LLC, with misappropriating more than $20 million from… SEC Press Release
