The Law of the Financial Markets from Top Securities Lawyers
Sunday, November 16, 2025
On May 11, 2023, the SEC charged HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. for their employees’ longstanding and widespread failures to preserve and maintain electronic communications. To settle the charges, HSBC and Scotia admitted that their conduct violated recordkeeping provisions of the federal securities laws and agreed […]
The Securities and Exchange Commission charged investment advisory firm Betterment LLC for material misstatements and omissions related to its automated tax loss harvesting service (TLH), failing to provide clients with notice of contract changes, and failing to maintain certain required books and records. Betterment agreed to pay a $9 million […]
The SEC has filed a complaint against Charlie Javice, the founder of the student loan assistance company Frank. The complaint alleges that Javice committed fraud in connection with the $175 million sale of Frank to JPMorgan Chase Bank, N.A., in 2021. The SEC claims that Javice misled JPMorgan Chase by […]
April 3, 2023 — The SEC charged New Jersey-based Chatham Asset Management LLC and its founder, Anthony Melchiorre, with improper trading of certain fixed-income securities. Chatham and Melchiorre agreed to pay more than $19.3 million in combined disgorgement, prejudgment interest, and civil penalties to settle the charges. SEC Findings The […]
Merrill Lynch, Pierce, Fenner & Smith Incorporated has settled with the Securities and Exchange Commission (SEC) for charging more than $4 million in undisclosed foreign exchange fees to its advisory clients for transfers to or from their accounts. The company has agreed to pay disgorgement, prejudgment interest, and a civil […]
Vale S.A., one of the world’s largest iron ore producers and a publicly traded Brazilian mining company, has agreed to pay $55.9 million to settle charges brought by the Securities and Exchange Commission (SEC) regarding allegedly false and misleading disclosures about the safety of its dams. The charges stem from […]
The Securities and Exchange Commission has charged former broker Surage Kamal Roshan Perera and his company, Janues Capital Incorporated, with engaging in fraudulent activities. The charges relate to allegations that they defrauded at least one investor out of millions of dollars. The SEC alleges that Perera and his firm deceived […]
The SEC has charged Darryl Matthew Cohen, a former investment advisor at “a large financial institution”, with misappropriating more than $1 million from three current and former NBA players over a period of two and a half years. The SEC’s press release, for an unexplained reason, did not identify the […]
March 23, 2023 —The Securities and Exchange Commission has charged three individuals for selling interests in pre-IPO companies without registering as broker-dealers and misleading investors about associated fees. Scott Hollender, Gabriel Migliano, Jr., and Frank Vecchio were accused of actively soliciting investments for funds set up as series limited liability […]
Blackbaud Inc., a South Carolina-based public company that provides donor data management software to non-profit organizations, has agreed to pay a $3 million civil penalty to settle charges over misleading disclosures about a 2020 ransomware attack that impacted more than 13,000 customers. The SEC announced the settlement on March 9, […]
