The Securities and Exchange Commission today announced that it obtained a temporary restraining order, asset freeze, and other emergency relief to halt an ongoing fraud targeting the Indian American community that has raised nearly $130 million since… Full Press Release available at
Enforcement
Joint Readout of Principals’ Meeting of U.S. and UK Authorities Regarding Central Counterparty Resolution
Senior officials from the Securities and Exchange Commission, Federal Deposit Insurance Corporation, Commodity Futures Trading Commission, Federal Reserve Board, and Bank of England convened a hybrid meeting today to discuss certain issues relating to… Full Press Release available at
SEC Proposes Rule to Address Volume-Based Exchange Transaction Pricing for NMS Stocks
The Securities and Exchange Commission today proposed a new rule that would prohibit national securities exchanges from offering volume-based transaction pricing in connection with the execution of agency or riskless principal (“agency-related”) orders… Full Press Release available at
SEC Charges BlackRock with Failing to Properly Disclose Investments by Publicly Traded Fund it Advised
The Securities and Exchange Commission today charged BlackRock Advisors, LLC, an investment adviser, for failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it advised.… Full Press Release available at
SEC Charges SolarWinds and Chief Information Security Officer with Fraud, Internal Control Failures
The Securities and Exchange Commission today announced charges against Austin, Texas-based software company SolarWinds Corporation and its chief information security officer, Timothy G. Brown, for fraud and internal control failures relating to allegedly…
SEC Charges Four Long Island Men with Perpetrating $2 Million “Free-Riding” Scheme
The Securities and Exchange Commission today announced fraud charges against Eduardo Hernandez, Christopher Flagg, Daquan Lloyd, and Corey Ortiz, all currently or formerly of Long Island, New York, for perpetrating a multi-year “free-riding” scheme that…
SEC Charges Crypto Company SafeMoon and its Executive Team for Fraud and Unregistered Offering of Crypto Securities
The Securities and Exchange Commission today charged SafeMoon LLC, its creator Kyle Nagy, SafeMoon US LLC, and the companies’ Chief Executive Officer, John Karony, and Chief Technology Officer, Thomas Smith, for perpetrating a massive fraudulent scheme…
SEC Adopts Rules for the Registration and Regulation of Security-Based Swap Execution Facilities
The Securities and Exchange Commission today adopted new Regulation SE under the Securities Exchange Act of 1934 to create a regime for the registration and regulation of security-based swap execution facilities (SBSEFs). The new regulatory…
SEC Charges President/CCO of Prophecy Asset Management Advisory Firm with Multi-Year Fraud
The Securities and Exchange Commission today charged John Hughes, president and chief compliance officer of registered investment adviser Prophecy Asset Management LP, for his involvement in a multi-year fraud that concealed losses of hundreds of…
SEC Charges Royal Bank of Canada with Internal Accounting Controls Violations
The Securities and Exchange Commission today announced that Canada’s largest bank, Royal Bank of Canada, will pay a $6 million penalty to settle charges that it violated the books and records and internal accounting controls provisions of the securities…
