SEC Puts Fund Directors in Spotlight
The SEC enforcement division will put a heightened focus on fund boards’ approval of advisor fees, the co-director of the division said Wednesday.
SEC Charges San Diego Advisor With Cherry-Picking, Soft Dollar Scheme
The SEC charged a firm and its president with steering winning trades to favored clients and misusing soft dollars.
CBOE to Pay $6M Fine to SEC Over Regulatory ‘Breakdowns’
The CBOE was charged with various violations, including a “failure to enforce or even fully comprehend” rules to prevent abusive short selling.
SEC Enforcement: Oil Firm Busted for Bribing Iran Official; Goldman VP Settles Pay-to-Play Charge
Among recent actions by the SEC were charges against a French oil and gas company for bribery and against a Dallas-based trader for front-running. Also, a former Goldman Sachs vice president agreed to settle earlier pay-to-play charges.
Nasdaq to Pay SEC $10M Over Botched Facebook IPO
The SEC on Wednesday charged Nasdaq with violations resulting from “poor systems and decision-making” during the IPO and secondary trading of Facebook shares.
Trader Caught in Apple Stock Scam
The SEC on Monday charged a former employee at a Connecticut-based brokerage firm with placing unauthorized orders to buy nearly $1 billion in Apple stock, ultimately causing the firm to cease operations.
SEC, FINRA Enforcement Roundup: Fund Execs First to Face Charges of Overvaluing Assets
Three top executives of KCAP Financial Inc., a New York-based publicly traded fund being regulated as a business development company, have been charged by the SEC with overstating the fund’s assets during the financial crisis.
a complaint against the president and owner of a Polish-born brokerage firm for targeting the Polish...
The Case of the Aspirational AUM: SEC Says RIA Inflated AUM Tenfold
A New York-based firm inflated its AUM to qualify for SEC registration—literally moving decimals on a spreadsheet—while a San Francisco-based firm dithered for 18 months in delivering mutual fund records to the SEC.
SEC Brings More Insider Trading Actions in Galleon Case
The SEC says that it has now charged 32 defendants in its Galleon-related enforcement actions.
Hedge Fund Managers Charged With Ripping Off Investors, Including a Retired Teacher
The SEC charged one manager with stealing more than $500,000 from a retired schoolteacher who thought she was investing her retirement savings in a hedge fund.