U.S. Securities And Exchange Commission
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Recent News About U.S. Securities And Exchange Commission
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EEOC settles with Embraer for $205 million after corrupt practices allegations
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced a settlement this week with the U.S. Department of Justice and Brazilian authorities that requires Embraer SA, an aircraft manufacturer, to pay $205 million for Foreign Corrupt Practices Act (FCPA) violation allegations. -
FMC Technologies to pay $2.5 million after allegations it overstated profits
WASHINGTON (Legal Newsline) — FMC Technologies will pay $2.5 million after allegations it overstated profits in one of its business segments, the Securities and Exchange Commission (SEC) has announced. -
Ernst & Young to pay more than $11.8 million for allegedly failing to detect accounting fraud
WASHINGTON (Legal Newsline) — Ernst & Young LLP has agreed to pay more than $11.8 million after allegations related to audits of an oil services company that allegedly used deceptive income tax accounting to inflate earnings, the Securities and Exchange Commission (SEC) has announced. -
SEC announces changes to modernize reporting for exchange-traded funds
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced this week it will adopt changes to modernize and enhance the reporting and disclosure of information by registered investment companies and to enhance liquidity risk management by open-end funds. -
Forcerank to pay $50,000 after allegations related to fantasy stock trading games
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced this week that New York-based Forcerank LLC will pay $50,000 after allegations it offered illegal complex derivative products to retail investors through mobile phone games described as “fantasy sports for stocks.” -
Consolidated complaint filed in securities fraud class action against diagnostics company Alere
The plaintiffs in the proposed class action, originally filed in a Massachusetts federal court in April, argue they purchased Alere Inc. common stock and suffered damages as a result of the company’s alleged federal securities law violations and false and/or misleading statements and/or material omissions amid a failed merger with Abbott Laboratories Inc. -
Anheuser-Busch to pay $6 million after allegations of FCPA violations
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced Anheuser-Busch InBev will pay $6 million after allegations it violated the Foreign Corrupt Practices Act (FCPA) and threatened a whistleblower who reported the misconduct. -
SEC settles with UBS for $15 million after allegations of failing to properly train employees
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced UBS Financial Services will pay $15 million after allegations of failing to adequately educate and train its sales force about its financial products. -
Breach disclosure, class actions could affect Yahoo's price
NEW YORK (Legal Newsline) - When Yahoo opened up about what could be one of the largest cyber attacks to date, it might have reopened what had been a done deal with a prospective buyer. -
SEC announces deal with Weatherford after allegations of fraudulently inflated earnings
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced Weatherford International, an oil services company, will pay $140 million after allegations it inflated earnings through deceptive income tax accounting. -
Artis Capital to pay nearly $9 million after allegedly failing to detect insider trading
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced this week that San Francisco-based Artis Capital Management and Michael W. Harden will settle allegations of failing to detect insider trading. -
SEC files 868 enforcement actions in fiscal 2016, an all-time high
WASHINGTON (Legal Newsline) — The U.S. Securities and Exchange Commission (SEC) has announced the filing of 868 enforcement actions exposing financial reporting-regulated misconduct by companies so far in fiscal year 2016. -
Attorneys for former investment adviser want full D.C. Circuit review of SEC decision
In August, the U.S. Court of Appeals for the D.C. Circuit rejected a petition for review of a 2013 decision by U.S. Securities and Exchange Commission administrative law judges. The judges barred Raymond J. Lucia and his company from associating with a financial adviser, broker or dealer and revoked the company’s investment adviser registrations. -
SEC announces $9.3 million deal with Ernst & Young, resolving auditor independence allegations
The Securities and Exchange Commission announced Ernst & Young, one of the major public accounting firms in the United States, will pay $9.3 million after allegations that two of its audit partners violated SEC impartiality rules because they got too close to its clients. -
SEC announces fraud charges in case involving illegal stock sales for marijuana business
LAS VEGAS (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced fraud charges against William J. Sears, Scott M. Dittman and Cliffe R. Bodden for their alleged scheme involving illegal stock sales and false financial filings of a company that makes containers for growing marijuana. -
Self-proclaimed 'stock trading whiz kid' to pay nearly $1.5 million to resolve fraud allegations
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced Manuel E. Jesus and his newsletter company Wealthpire Inc. will pay close to $1.5 million after allegations of defrauding subscribers through false statements and misrepresentations. -
Portugal Telecom to pay $1.25 million fine after allegations of misleading investors
WASHINGTON (Legal Newsline) — Portugal Telecom SGPS S.A. will pay a $1.25 million fine after allegations it failed to properly disclose credit risk in its investments and debt instruments issued by companies of Portuguese conglomerate Grupo Espirito Santo, the Securities and Exchange Commission (SEC) has announced. -
RBC Capital Markets owes $2.5 million after allegations of false statements
WASHINGTON (Legal Newsline) — RBC Capital Markets LLC will pay $2.5 million after allegations of false and misleading statements during a valuation analysis, the Securities and Exchange Commission (SEC) has announced. -
SEC charges attorney with fraud, alleging he bilked pro athletes out of millions
WASHINGTON (Legal Newsline) — Donald Watkins and his companies have been charged with defrauding professional athletes and other investors out of millions, the Securities and Exchange Commission (SEC) has announced. -
Massachusetts woman sues to stop proposed merger between Aegerion and QLT
BOSTON (Legal Newsline) – A Massachusetts woman is suing to halt a pharmaceutical merger, claiming the merger is illegal and in violation of laws enacted by the Securities and Exchange Commission (SEC).