U.S. Securities and Exchange Commission News

Whistleblower advocate: Large awards can undermine public's confidence in process

By John Breslin | May 31, 2018

WASHINGTON – A leading advocate for whistleblowers has warned that the large bounty rewards involved following settlements has the potential to erode public solidarity for the practice.

SEC: Panasonic bribed government official, to pay $143 million in penalties

By Mark Iandolo | May 7, 2018

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced April 30 that Panasonic Corp. will pay more than $143 million after allegations of violating the Foreign Corrupt Practices Act (FCPA) by engaging in bribery.

SEC secures $35 million from Yahoo relating to massive 2014 data breach

By Mark Iandolo | May 3, 2018

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced April 24 that the entity formerly known as Yahoo! Inc. will pay $35 million after allegations of misleading investors following the one of the world's largest data breaches. “

SEC proposes rules protecting investors

By Mark Iandolo | May 3, 2018

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced April 18 that it has voted to propose a package of rules and interpretations to protect retail investors.

Whistleblowers need to report to SEC under new SCOTUS ruling

By Elizabeth Alt | Mar 27, 2018

WASHINGTON (Legal Newsline) – Employers may find themselves in more federal court cases after the U.S. Supreme Court issued a decision in February ruling that whistleblowers are not protected under the anti-retaliation provision of the Dodd-Frank Act unless they file a complaint with the Securities and Exchange Commission.

SEC settles with Ameriprise over allegations company disadvantaged customers

By Mark Iandolo | Mar 5, 2018

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Feb. 28 that Ameriprise Financial Services Inc. will pay $230,000 in penalties and consent to a cease-and-desist order and censure after allegations of disadvantaging certain requirement account customers.

Paris may join U.S. governments suing energy producers over global climate change

By Karen Kidd | Feb 21, 2018

PARIS (Legal Newsline) – City officials in Paris appear poised to enter the trend of government officials using lawsuits to fight global climate change by suing energy companies.

'Cross examination is going to be brutal': NYU law prof says climate change litigation is a loser

By Karen Kidd | Feb 21, 2018

NEW YORK (Legal Newsline) – California officials who made dire climate change predictions about their localities' future in litigation against energy companies, but not in bond offerings, probably know by now their litigation is doomed, a New York University law professor said during a recent interview.

'Dispassionate analysis' lacking in California climate change litigation, environmental attorney says

By Karen Kidd | Feb 20, 2018

WASHINGTON (Legal Newsline) – Government officials in California who made dire climate change predictions in lawsuits against energy companies but not to prospective bond investors didn't think hard enough before filing those cases, a Washington, D.C.-based environmental attorney said during a recent interview.

SEC asked to investigate potential fraud in California bond offerings over climate change risk

By Ann Maher | Feb 2, 2018

WASHINGTON (Legal Newsline) - Lawyers for the Competitive Enterprise Institute are asking the Securities Exchange Commission to investigate potential fraud involving inconsistent climate change claims of California cities and counties in their bond offerings.

SEC: Biopharmaceutical company liable for former CEO's accounting violations

By Mark Iandolo | Dec 21, 2017

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Dec. 12 that it has charged Provectus, a biopharmaceutical company based in Tennessee, alleging a series of accounting controls and disclosure violations.

SEC halts $15 million ICO after allegations of unregistered securities

By Mark Iandolo | Dec 21, 2017

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Dec. 11 that Munchee Inc. has halted its initial coin offering (ICO) after allegations involving unregistered securities offers and sales.

DOL officially puts Obama administration’s fiduciary rule on hold for 18 months

By Jessica Karmasek | Nov 30, 2017

The U.S. Department of Labor announced Monday it finalized plans to extend the transition period for full implementation from Jan. 1, 2018 to July 1, 2019.

SEC secures disgorgement, penalties from insider trader who worked for Apache Corp.

By Mark Iandolo | Nov 7, 2017

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Nov. 1 that petroleum engineer Christopher J. Lollar, who worked at the Apache Corporation energy company, will settle allegations of insider trading.

SEC: Investment advisory firm to pay $630,000 in disgorgement, penalties

By Mark Iandolo | Nov 7, 2017

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Oct. 31 that Millennium Management LLC will pay more than $630,000 after allegations of a U.S. stock short-selling scheme.

SEC alleges snack product company owners defrauded investors

By Mark Iandolo | Oct 23, 2017

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Oct. 11 it has charged three individuals who owned Starship Snack Corp. for allegations of defrauding investors.

SEC charges former Alliance Fiber Optic CEO with insider trading

By Mark Iandolo | Oct 2, 2017

The Securities and Exchange Commission (SEC) announced Sept. 20 that it has charged Peter C. Cheng, the former CEO of Alliance Fiber Optic Products, with allegations of insider trading in company stock.

SEC secures $965 million from telecommunications company charged with bribing Uzbek official

By Mark Iandolo | Oct 2, 2017

The Securities and Exchange Commission (SEC) announced Sept. 21 that Telia Company AB, a telecommunications company with operations in the United States and headquarters in Sweden, will pay $965 million after settling allegations of violating the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan.

Aegerion resolves SEC allegations of misleading investors with $4.1 million penalty

By Mark Iandolo | Oct 2, 2017

The Securities and Exchange Commission (SEC) announced Sept. 22 that Aegerion Pharmaceuticals, now a subsidiary of Novelion Therapeutics, will pay a $4.1 million penalty after allegations of misleading investors in 2013.

SEC alleges SunTrust subsidiary made improper recommendations to clients

By Mark Iandolo | Sep 19, 2017

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Sept. 14 that it has charged the investment services subsidiary of SunTrust Banks with improperly collecting more than $1.1 million in avoidable fees from clients.

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