The Securities and Exchange Commission today charged ICE Data Pricing & Reference Data LLC, a global securities pricing service and New York-based registered investment adviser, for compliance deficiencies relating to its delivery to clients of prices based on quotes it received from a single market participant, also known as single […]
Tag: SEC Enforcement
SEC Charges Disbarred New York Attorney and Florida Attorney with Scheme to Create False Opinion Letters
The Securities and Exchange Commission today charged disbarred attorney, Richard J. Rubin, and licensed attorney, Thomas J. Craft, with fraud for their roles in a legal opinion letter scheme to fraudulently facilitate the sale of millions of shares of… Read the Full Press Release Have a securities law question? Call […]
Undisclosed Paid Promotions Result in SEC Charges
Promoting a security without disclosing that you are being paid to do so is unlawful “touting” and violates the federal securities laws. The SEC has charged a Tennessee business mand for promoting investments in initial coin offerings (ICOs) to his Twitter followers without disclosing that he was paid to do […]
SEC Charges Hospitality Company for Failing to Disclose Executive Perks
The SEC settled charges against Virginia-based hospitality company Hilton Worldwide Holdings Inc. for failing to fully disclose perquisites and personal benefits provided to executive officers. The action was generated by the Division of Enforcement’s use of risk-based data analytics to uncover potential violations related to corporate perquisites. According to the […]
Morgan Stanley Agrees to Pay $5 Million for Reg SHO Violations
The Securities and Exchange Commission today announced settled charges against Morgan Stanley & Co. LLC for violations of Regulation SHO, the regulatory framework governing short sales. According to the SEC’s order, the structure of Morgan Stanley’s prime brokerage swaps business resulted in violations of Reg SHO. As set forth in […]
SEC Charges Former Real Estate Executive With Misappropriating $26 Million in Ponzi Scheme
The Securities and Exchange Commission today charged the former president of a Marin, California real estate development and management company with operating a fraudulent Ponzi scheme and misappropriating over $26 million from more than 1,300 investors – many of whom were elderly and retired. According to the SEC‘s complaint, from September […]
SEC Charges Hertz’s Former CEO With Aiding and Abetting Company’s Financial Reporting and Disclosure Violations
The Securities and Exchange Commission today charged former Hertz CEO and Chairman Mark Frissora with aiding and abetting the company in its filing of inaccurate financial statements and disclosures. The SEC’s complaint alleges that as Hertz’s financial results fell short of its forecasts throughout 2013, Frissora pressured subordinates to “find […]
Firm Settles Charges of Defrauding Investors, Refunds Allegedly Ill-Gotten Gains
The Securities and Exchange Commission today announced that SCF Investment Advisors, Inc. (SCF) has agreed to settle charges that it selected mutual funds and cash sweep money market funds for clients that provided undisclosed revenue to the firm’s… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Charges Issuer and CEO With Misrepresenting Platform Technology in Fraudulent ICO
The Securities and Exchange Commission today announced charges against Virginia-based Boon.Tech and its chief executive officer Rajesh Pavithran for fraud and registration violations in connection with a $5 million initial coin offering (ICO) of digital asset securities. According to the SEC’s order, from November 2017 to January 2018, Boon.Tech and […]
Former Congressman Christopher Collins and Two Others Settle Insider Trading Charges
The SEC announced settlements with former U.S. Rep. Christopher Collins, his son Cameron Collins, and Stephen Zarsky, all of whom were charged with insider trading and pleaded guilty to related criminal charges. The settlements, which are subject to court approval, bar Christopher Collins from serving as an officer or director […]