Tag: SEC

'Frack Master' pleads guilty to massive fraud, faces 12 years in prison
October 24, 2018 BY Valentina Kirilova

'Frack Master' pleads guilty to massive fraud, faces 12 years in prison

The Securities and Exchange Commission (SEC) has announced it has agreed to a settlement with Christopher A. Faulkner—the self-proclaimed “Frack Master”—in connection with his wide-ranging securities-fraud scheme that raised over $80 million from hundreds of investors nationwide. Faulkner has simultaneously entered into a plea agreement relating to the same misconduct under which he will serve…

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September 28, 2018 BY Valentina Kirilova

Petrobras reaches settlement with SEC for misleading investors

The Securities and Exchange Commission (SEC) has charged Brazilian oil-and-gas company Petróleo Brasileiro S.A. with misleading U.S. investors by filing false financial statements that concealed a massive bribery and bid-rigging scheme at the company. The U.S. Department of Justice also announced today a non-prosecution agreement with Petrobras. The SEC’s order finds that senior Petrobras executives…

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DFSA launches Cyber Threat Intelligence Platform
September 27, 2018 BY Valentina Kirilova

SEC charges Voya Financial Advisors Inc. with deficient cybersecurity procedures

The Securities and Exchange Commission (SEC) has announced that a Des Moines-based broker-dealer and investment adviser has agreed to pay $1 million to settle charges related to its failures in cybersecurity policies and procedures surrounding a cyber intrusion that compromised personal information of thousands of customers. The SEC charged Voya Financial Advisors Inc. (VFA) with…

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ASIC applauds the enactment of stronger whistleblowing laws
September 25, 2018 BY Valentina Kirilova

SEC pays almost $4 million to overseas whistleblower

The Securities and Exchange Commission (SEC) has announced that it has awarded nearly $4 million to an overseas whistleblower whose tip led it to open an investigation and whose extensive assistance helped it bring a successful enforcement action. Whistleblowers, whether they are located in the U.S. or abroad, provide a valuable service to investors and…

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Woodbridge Group of Companies LLC and former owner Robert H. Shapiro fined $1 billion
September 20, 2018 BY Valentina Kirilova

SEC shuts down $345 million ponzi scheme

The Securities and Exchange Commission (SEC) has announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the appointment of a receiver. A SEC complaint unsealed yesterday alleges that Kevin B.…

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sec charges
September 19, 2018 BY Valentina Kirilova

SeaWorld to pay more than $5 million to settle fraud charges

The Securities and Exchange Commission (SEC) has announced that SeaWorld Entertainment Inc. and its former CEO have agreed to pay more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the company’s reputation and business. SeaWorld’s former vice president of communications also agreed to settle…

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SEC uses data analysis to detect cherry-picking by broker
September 13, 2018 BY Valentina Kirilova

SEC uses data analysis to detect cherry-picking by broker

The Securities and Exchange Commission (SEC) has announced that it has charged a New Jersey-based broker with misusing his access to customers’ brokerage accounts to enrich himself and family members at the expense of his customers, many of whom had entrusted him with their retirement accounts. The SEC uncovered the alleged fraud with data analysis…

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