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…
Enforcement
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…
SEC Charges Former Co-CEOs of Tech Start-Up Bitwise Industries for Falsifying Documents While Raising $70 Million From Investors
The Securities and Exchange Commission today announced charges against Jake Soberal and Irma Olguin, Jr., the former co-CEOs of Fresno, California-based private technology services startup Bitwise Industries Inc., for misleading investors about the…
SEC 2024 Examination Priorities for Broker-Dealers
The SEC’s Division of Examinations prioritizes examinations of certain practices, products, and services that it believes present potentially heightened risks to investors or the integrity of the U.S. capital markets. They have announced the 2024 examination priorities. Here is a summary of the Broker-Dealer priorities for 2024. We summarized the […]
Albemarle Corp. to Pay SEC More Than $103 Million to Settle FCPA Violations
The SEC has recently disclosed that Albemarle Corporation, a prominent global specialty chemicals company headquartered in Charlotte, has agreed to a substantial settlement of over $103.6 million. This settlement is in response to the SEC’s charges that Albemarle violated several key provisions of the Foreign Corrupt Practices Act (FCPA), specifically […]
American Infrastructure Funds Settles SEC Charges
American Infrastructure Funds LLC (AIM), a registered investment adviser based in Foster City, California, has agreed to a settlement with the SEC, in which AIM will pay over $1.6 million to resolve charges brought against the firm. These charges stem from several alleged breaches of its duties as an investment […]
