The Securities and Exchange Commission today announced settled charges against New York-based registered investment adviser Sound Point Capital Management LP for failing to establish, maintain, and enforce written policies and procedures reasonably… SEC Press Release
Enforcement
SEC Adopts Reporting Enhancements for Registered Investment Companies and Provides Guidance on Open-End Fund Liquidity Risk Management Programs
The Securities and Exchange Commission today adopted amendments to reporting requirements on Form N-PORT to provide the Commission and investors with more timely information about certain registered investment companies (funds). Form N-PORT reports… SEC Press Release
SEC Charges U.S. Navy Shipbuilder Austal USA with Accounting Fraud
The Securities and Exchange Commission today announced that Austal USA, LLC, a Mobile, Alabama-based shipbuilder, and its Australia-based parent company, Austal Limited, have agreed to settle the SEC’s charges that the companies conducted a fraudulent… SEC Press Release
SEC Charges China-based QZ Asset Management Ltd. and its CEO in Pre-IPO Fraud Scheme
The Securities and Exchange Commission today announced charges against China-based investment adviser QZ Asset Management Limited a/k/a Qianze Asset Management Limited (QZ Asset), its South Dakota-based holding company QZ Global Limited, and the CEO of… SEC Press Release
SEC Charges Brothers Jonathan and Tanner Adam with $60 Million Ponzi Scheme
The Securities and Exchange Commission today announced that it obtained emergency asset freezes against Jonathan Adam, a resident of Angleton, Texas, and his brother, Tanner Adam, a resident of Miami, Florida, and against their respective entities, GCZ… SEC Press Release
SEC Charges Abra with Unregistered Offers and Sales of Crypto Asset Securities
The Securities and Exchange Commission today filed settled charges against Plutus Lending LLC, which does business as Abra, for failing to register the offers and sales of its retail crypto asset lending product, Abra Earn. The SEC also charged Abra with… SEC Press Release
SEC Issues Awards Totaling $98 Million to Two Whistleblowers
The SEC’s Landmark Whistleblower Awards The Securities and Exchange Commission (SEC) recently made headlines by awarding over $98 million to two whistleblowers whose information and cooperation led to significant enforcement actions. These payouts demonstrate whistleblowers’ crucial role in upholding financial markets’ integrity. Whistleblower Information Sparks Major Investigations The SEC’s investigations […]
SEC Approves New and Updated PCAOB Audit Standards and an Amendment to the PCAOB’s Contributory Liability Rule
SEC Approves PCAOB Proposals for Updated Audit Standards On August 20, 2024, the Securities and Exchange Commission (SEC) approved two proposals from the Public Company Accounting Oversight Board (PCAOB) that update audit standards. These proposals focus on the general responsibilities of auditors and the use of technology-assisted analysis in conducting […]
SEC Charges Agent Equiniti Trust Co. with Failing to Protect Client Funds Against Cyber Intrusions
Protecting Client Securities and Funds in the Digital Age The Securities and Exchange Commission (SEC) has settled charges against Equiniti Trust Company LLC, formerly known as American Stock Transfer & Trust Company LLC, for failing to safeguard client securities and funds against theft or misuse. This negligence led to a […]
SEC Charges Carl Icahn and Icahn Enterprises L.P. for Failing to Disclose Pledges of Company’s Securities as Collateral for Billions in Personal Loans
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 […]
