Morgan Stanley is increasing its account minimum requirements for international clients and is set to close or suspend thousands of domestic and offshore wealth management accounts as part of a due diligence review, according to Citywire. The firm informed staff on Tuesday morning that accounts with less than $5m currently […]
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SEC Charges Pharmaceutical Co. Chief Information Officer in $8 Million Insider Trading Scheme
The Securities and Exchange Commission today announced insider trading charges against Ramkumar Rayapureddy, Chief Information Officer of pharmaceutical company Viatris Inc., which was formerly known as Mylan N.V. The SEC’s complaint, filed in the… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at […]
$10 Million Award to Whistleblower
October 31, 2022 – The Securities and Exchange Commission today announced an award of more than $10 million to a whistleblower who provided information and assistance that significantly contributed to a successful SEC enforcement action. The whistleblower provided important documents and met twice with Enforcement staff. The charges in the […]
New Private Fund Reporting Rules Proposed
The Securities and Exchange Commission today voted to propose amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. The amendments, which the Commodity Futures Trading Commission (CFTC) is concurrently considering to propose jointly with the SEC, are designed to enhance the Financial Stability […]
SEC Adopts Compensation Recovery Listing Standards and Disclosure Rules
Oct. 26, 2022 — The Securities and Exchange Commission today adopted rules to require securities exchanges to adopt listing standards that require issuers to develop and implement a policy providing for the recovery of erroneously awarded incentive-based compensation received by current or former executive officers. The final rules require a […]
SEC Adopts Amendments to Modernize Fund Shareholder Reports and Promote Transparent Fee- and Expense-Related Information in Fund Advertisements
Oct. 26, 2022 —The Securities and Exchange Commission voted today to adopt rule and form amendments to require mutual funds and exchange-traded funds to transmit concise and visually engaging shareholder reports and to promote transparent and balanced presentations of fees and expenses in investment company advertisements. “Shareholder reports are amongst […]
SEC Proposes New Oversight Requirements for Certain Services Outsourced by Investment Advisers
Oct. 26, 2022 — The SEC proposed a new rule and rule amendments under the Investment Advisers Act of 1940 to prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence and monitoring of the service providers. “Registered investment advisers — more than 15,000 of them […]
SEC Names Jason J. Burt as Regional Director of the Denver Office
The Securities and Exchange Commission today announced that Jason J. Burt has been named Regional Director of the Denver Office, where he has served as Acting Co-Director since July. “I am pleased that Jason will head the Denver Regional Office after an… Read the Full Press Release Have a securities […]
Cannabis Company and Former Senior Executive Settle Accounting Fraud Charges
Oct. 24, 2022 — The Securities and Exchange Commission today charged Cronos Group Inc., a Nasdaq-listed cannabis company based in Toronto, for improperly accounting for millions of dollars of revenue and for other accounting misconduct in multiple reporting periods. The SEC also charged Cronos’s former Chief Commercial Officer, William Hilson, […]
Mattel Settles SEC Charges, Case Against its Former PwC Audit Partner Pending
Oct. 21, 2022 — The Securities and Exchange Commission today announced that California-based Mattel Inc. has agreed to pay $3.5 million to settle charges relating to misstatements in its third and fourth quarter 2017 financial statements. Separately, the SEC is initiating litigation against Joshua Abrahams, a former audit partner at […]
