Tag: Securities and Exchange Commission

SFC fines
November 08, 2018 BY Valentina Kirilova

ITG pays $12 million for misleading dark pool subscribers

The Securities and Exchange Commission (SEC) has announced that ITG Inc. and its affiliate AlterNet Securities Inc. have agreed to pay $12 million to settle charges arising from ITG’s misstatements and omissions about the operation of the firm’s dark pool, POSIT, and ITG’s failure to establish adequate safeguards and procedures to protect POSIT subscribers’ confidential…

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November 06, 2018 BY Valentina Kirilova

Anthony S. Kelly, Co-Chief of Asset Management Unit, to leave SEC

The Securities and Exchange Commission (SEC) has announced that Anthony S. Kelly, Co-Chief of the Enforcement Division’s Asset Management Unit, will be leaving the agency this month after more than 18 years of service. The Asset Management Unit is the Division’s largest specialized unit and focuses on misconduct by investment advisers and service providers to…

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AML compliance
November 01, 2018 BY Valentina Kirilova

SEC updates list of firms using inaccurate information to solicit investors

The Securities and Exchange Commission (SEC) has announced that it has updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 16 soliciting entities, four impersonators of genuine firms, and eight bogus regulators. The SEC also made technical updates to its database to make it easier for retail investors…

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Republic of Abkhazia cuts power to 15 miners – What is going on here?
November 01, 2018 BY Valentina Kirilova

SEC to modernize property disclosures required for mining registrants

The Securities and Exchange Commission (SEC) has announced that it has voted to adopt amendments to modernize the property disclosure requirements for mining registrants, and related guidance, under the Securities Act of 1933 and the Securities Exchange Act of 1934. The amendments will provide investors with a more comprehensive understanding of a registrant’s mining properties,…

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'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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Tesla plunges 10% after reporting a worse-than-expected loss, co-founder steps down
September 28, 2018 BY Valentina Kirilova

SEC charges Elon Musk with misleading tweets

The Securities and Exchange Commission (SEC) has announced that it has charged Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc. (NASDAQ:TSLA), with securities fraud for a series of false and misleading tweets about a potential transaction to take Tesla private. On August 7, 2018, Musk tweeted to his 22 million Twitter followers that…

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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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