SEC Enforcement Roundup: Ralph Lauren Corp. Admits to Bribing Argentine Officials
Recent actions include a nonprosecution agreement with Ralph Lauren Corp. in a bribery case and the halting of an immigration scheme.
Bruce Bent Cleared in SEC Fraud Charges
Bruce Bent, founder of the first money market fund, was cleared of fraud charges Monday after the SEC alleged that he deceived investors leading up to the Primary Reserve Fund “breaking the buck.”
3 States Join Suit Challenging a Part of Dodd-Frank’s Constitutionality
Three states joined a lawsuit filed in federal court in Washington, D.C., that asked the court to review the constitutionality of the Orderly Liquidation Authority, established under Dodd-Frank.
SEC, FINRA Enforcement Roundup: Doctors Fined for Insider Trading
Recent actions also include fines for a medical device company accused of bribing the Mexican government and a suit filed by an investment company against breakaway brokers.
SEC’s Rominger Replaced by Champ, a Former Hedge Fund Counsel
Norm Champ, who's been with the SEC since 2010, brings his understanding of financial chicanery to bear on investment funds and advisors.
New Hire Roundup: Solomon Named to SEC; Securities America Welcomes Lindsey
This week in new hires, Matthew Solomon joined the SEC's enforcement division and John Lindsey went to Securities America.
SEC Fraud Cases: ‘Next Google’ IPO; China Market Manipulation; Florida Ponzi Play
In Silicon Valley, a fake IPO fleeces investors for $7 million, and in Florida, an advisor targeting gays over-promises and under-delivers
SEC Goes After Deutsche Telekom
The Securities and Exchange Commission sued Deutsche Telekom and its Hungarian telecommunications unit Magyar Telekom in federal court in Manhattan on Wednesday, alleging violations of the Foreign Corrupt Practices Act, which prohibits paying bribes to foreign officials. Three former officials of Magyar were also charged in a separate filing with...
Another Judge Challenges SEC Settlement
Milwaukee Judge Randa’s objections are reminiscent of Judge Rakoff’s criticisms of the SEC’s settlement with Citigroup. Indeed, Randa cited Rakoff in his filing.
Judge Blocks, Blasts SEC-Citigroup Settlement
Judge Jed S. Rakoff on Monday rejected a settlement negotiated between the SEC and Citigroup over a $1 billion mortgage fund and said that he could not determine whether the $285 million settlement was “fair, reasonable, adequate and in the public interest.”