The Securities and Exchange Commission today charged registered investment adviser Global Infrastructure Management, LLC for failing to properly offset management fees and for making misleading statements about the fees and expenses it charged. Global… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at […]
Tag: SEC Enforcement
James E. Grimes Named Chief ALJ at SEC
We are certain that Judge Grimes will be an excellent Chief ALJ, but we found it interesting, given the fact that the SEC ALJs rule in favor of the SEC in almost all of their cases that the SEC thought that including the word “impartial” in the title “SEC impartial Office […]
JPMorgan Admits to Widespread Record-Keeping Failures and Agrees to Pay $125 Million Penalty to Resolve SEC Charges
The SEC announced charges against J.P. Morgan Securities LLC (JPMS), a broker-dealer subsidiary of JPMorgan Chase & Co., for widespread and longstanding failures by the firm and its employees to maintain and preserve written communications. JPMS admitted the facts set forth in the SEC’s order and acknowledged that its conduct […]
Tipping Inside Information Leads to Civil and Criminal Charges
When you are in possession of insider information, not only can you not trade on it, you cannot tell others about the information. If you do, and they trade on it, you can be liable for their trades. The CFO of Immunomedics is learning that lesson the hard way. According […]
SEC Charges Oilfield Services Company and Former CEO With Failing to Disclose Executive Perks and Stock Pledges
The Securities and Exchange Commission today announced that Texas-based oilfield services company ProPetro Holding Corp. and its founder and former CEO Dale Redman have agreed to settle charges that they failed to properly disclose some of Redman’s… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Announces Enforcement Results for FY 2021
The Securities and Exchange Commission today announced that it filed 434 new enforcement actions in fiscal year 2021, representing a 7 percent increase over the prior year. Seventy percent of these new or “stand-alone” actions involved at least one… Read the Full Press Release Have a securities law question? Call […]
McKinsey Affiliate to Pay $18 Million for Compliance Failures in Handling of Nonpublic Information
The Securities and Exchange Commission today announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Charges Exchange-Traded Product and Its General Partner With Disclosure Failures
The Securities and Exchange Commission today charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
Oil and Gas Executives Settle SEC Charges of Misleading Investors in More Than a Dozen Oil and Gas Securities Offerings
The Securities and Exchange Commission today charged Thomas Powell and Stefan Toth, and their entities, Resolute Capital Partners LTD LLC and Homebound Resources LLC, with making material misrepresentations and omissions in connection with more than a dozen unregistered oil and gas securities offerings. Powell and Toth were also charged with […]
Fraud Charges For Crowdfunding Portal, Issuer, and Related Individuals
It didn’t take long for the SEC to bring fraud charges in the crowdfuning space. Today the SEC charged three individuals and one issuer with conducting a fraudulent scheme to sell nearly $2 million of unregistered securities through two crowdfunding offerings. The SEC also charged the registered funding portal and […]
