Tag: SEC fine

January 18, 2017 BY LeapRate Staff

Marketing agency MDC Partners hit with $1.5M SEC fine for not disclosing CEO perks

The U.S. Securities and Exchange Commission today announced that New York-based marketing company MDC Partners Inc (NASDAQ:MDCA) has agreed to pay a $1.5 million penalty to settle charges that it failed to disclose certain perks enjoyed by its then-CEO and separately violated non-GAAP financial measure disclosure rules. The SEC’s order finds that MDC Partners disclosed…

Read more
pay to play violations
January 17, 2017 BY LeapRate Staff

Pershing Square and NGN Capital among 10 firms fined for pay-to-play violations

The U.S. Securities and Exchange Commission has announced that 10 investment advisory firms have agreed to pay penalties ranging from $35,000 to $100,000 to settle charges that they violated the SEC’s investment adviser pay-to-play rule by receiving compensation from public pension funds within two years after campaign contributions made by the firms’ associates. According to the…

Read more
ASIC applauds the enactment of stronger whistleblowing laws
January 17, 2017 BY LeapRate Staff

Blackrock fined by the SEC for whistleblowing clauses in exit agreements

The U.S. Securities and Exchange Commission has announced that New York-based BlackRock, Inc. (NYSE:BLK), the world's largest asset manager, has agreed to pay a $340,000 penalty to settle charges that it improperly used separation agreements in which exiting employees were forced to waive their ability to obtain whistleblower awards. According to the SEC’s order, more…

Read more
SFC fines
January 15, 2017 BY LeapRate Staff

Market maker Citadel Securities hit with $22 million SEC fine for misleading retail clients about pricing trades

The U.S. Securities and Exchange Commission has announced that market making firm Citadel Securities LLC has agreed to pay $22.6 million to settle charges that its business unit handling retail customer orders from other brokerage firms made misleading statements to them about the way it priced trades. The SEC’s order finds that Citadel Execution Services…

Read more
January 12, 2017 BY LeapRate Staff

BNY Mellon pays $6.6 million SEC fine for reg capital miscalculations

The U.S. Securities and Exchange Commission today announced that BNY Mellon Corp (NYSE:BK) has agreed to pay a $6.6 million penalty to settle charges stemming from miscalculations of its risk-based capital ratios and risk-weighted assets reported to investors. An SEC investigation found that BNY Mellon deviated from regulatory capital rules by excluding from its calculations…

Read more
SFC fines
January 12, 2017 BY LeapRate Staff

Broker ITG paying $24 million SEC fine for foreign share ADRs violation

The U.S. Securities and Exchange Commission today announced that broker Investment Technology Group (NYSE:ITG) agreed to pay more than $24.4 million to settle charges that it violated federal securities laws when it prompted the issuance of American Depository Receipts (ADRs) without possessing the underlying foreign shares. ADRs are U.S. securities that represent shares of a…

Read more
December 07, 2016 BY Valentina Kirilova

IT specialist settles charges of insider trading on hacked nonpublic information

The Securities and Exchange Commission (SEC) announced insider trading charges against a San Francisco-based information technology specialist who allegedly hacked senior executives at online travel company Expedia and illegally traded on company secrets. The SEC alleges that Jonathan Ly, who worked in Expedia’s corporate IT services department, illegally traded in advance of nine company news…

Read more
bitcoin hacker
December 05, 2016 BY LeapRate Staff

Expedia IT employee who hacked senior executives faces insider trading criminal charges

The U.S. Securities and Exchange Commission (SEC) has announced insider trading charges against a San Francisco-based IT specialist who allegedly hacked senior executives at online travel company Expedia Inc (NASDAQ:EXPE) and illegally traded on company secrets. The SEC alleges that Jonathan Ly, who worked in Expedia’s corporate IT services department, illegally traded in advance of nine…

Read more
December 01, 2016 BY LeapRate Staff

PIMCO pays $18 million penalty to settle SEC charges it misled investors about ETF performance

The U.S. Securities and Exchange Commission (SEC) has announced that investment management firm Pacific Investment Management Company (PIMCO) agreed to retain an independent compliance consultant and pay nearly $20 million (including a penalty of more than $18 million) to settle charges that it misled investors about the performance of one its first actively managed exchange-traded…

Read more