Securities Law Blogs
CALPERS Withdrawing Its Hedge Fund Investments - Too Expensive, Too Complicated
The California Public Employees' Retirement System, the largest U.S. pension fund, said on Monday that it will pull all $4 billion it has invested in hedge funds because it finds them too costly and complicated. The $300 billion fund, known as...
SEC Announces $300,000 Whistleblower Award to Audit and Compliance Professional Who Reported Company’s Wrongdoing
The SEC announced a whistleblower award of more than $300,000 to a company employee who performed audit and compliance functions and reported wrongdoing to the SEC after the company failed to take action when the employee reported it internally....
FINRA's New Head of Dispute Resolution Search Narrows
With the retirement of Linda Fienberg, Reuters is reporting that FINRA has narrowed its search for a new head of its arbitration unit to two of its own long-time officials, according to a person familiar with the matter. FINRA, Wall Street's...
Investor Alert - Frontier Funds
FINRA has issued an investor alert regarding "Frontier funds" which are funds that invest in securities of companies in countries with developing securities markets—like Argentina, Lebanon, Nigeria, Slovenia and Vietnam. According to FINRA, some...
SEC Charges Offshore Business and Two Individuals Behind Scheme to Conceal Ownership of Microcap Stocks
The SEC charged two individuals managing an offshore business intended to help clients evade U.S. securities laws with concealing the ownership of certain microcap stocks as part of a larger money laundering scheme alleged by criminal authorities....
SEC Charges Minneapolis-Based Hedge Fund Manager With Bilking Investors and Portfolio Pumping
The SEC charged a Minneapolis-based hedge fund manager, his investment advisory firm, and an accomplice with bilking investors in two hedge funds out of more than $1 million under the guise of research expenses and fees. The SEC alleges that...
SEC Charges L.A.-Based Immigration Attorneys With Defrauding Investors Seeking U.S. Residency
The SEC charged a Los Angeles-based immigration attorney, his wife, and his law firm partner with conducting an investment scheme to defraud foreign investors trying to come to the U.S. through the EB-5 Immigrant Investor Program. The SEC alleges...
Houston-Based Investment Advisory Firm and Co-Owners Charged With Failing to Disclose Conflict of Interest to Clients
The Securities and Exchange Commission today announced fraud charges against a Houston-based investment advisory firm accused of recommending that clients invest in particular mutual funds without disclosing a key conflict of interest: the firm...
SEC's Use of Administrative Hearings Under Fire
We have written about this before. The SEC, like most administrative agencies, has the ability to bring cases in an administrative proceeding, rather than in court. There are a host of problems with using an administrative proceeding in this...
SEC Charges Two Information Technology Executives With Mischaracterizing Resale Transactions to Increase Revenue
The Securities and Exchange Commission today charged two executives at a Dallas-based information technology company with mischaracterizing an arrangement with an equipment manufacturer to purport that it was conducting so-called “resale...
SEC Litigation Releases:
SEC Obtains Asset Freeze Against Company in Turks and Caicos Islands Behind South Florida-Based Ponzi Scheme
Abatement Corp. Holding Company Limited, et al.
Court Orders Joseph D. Stilwell to Testify in Response to SEC Investigative Subpoena
Joseph D. Stilwell
SEC Charges Ddbo Consulting, Inc., Calpacific Equity Group, LLC, and Principals with Fraud and Registration Violations
DDBO Consulting, Inc./CalPacific Equity Group, LLC, et al.
Judgment Entered Against Former CEO in Securities Kickback Scheme
Edward Henderson and Paul Desjourdy
SEC Settles Fraud Charges Against Former Heart Tronics CEO and Former Registered Representative.
Heart Tronics, Inc., et al.
SEC Charges Minneapolis-Based Hedge Fund Manager with Bilking Investors and Portfolio Pumping
Steven R. Markusen, et al.
Connecticut-Based Broker-Dealer Representative Sentenced to Two Years in Prison for Defrauding Investors in Mortgage-Backed Securities
Jesse C. Litvak
Judgments Entered Against Company and Former CEO in Securities Kickback Scheme
Michael Lee and ZipGlobal Holdings, Inc.
SEC Charges L.A.-Based Immigration Attorneys with Defrauding Investors Seeking U.S. Residency
Justin Moongyu Lee, et al.
Federal Court Grants Sec’S Motion for Summary Judgment and Enters Final Judgment Against Atlanta-Area Registered Representative Blake Richards for Securities Fraud Violations
UPDATE 1-Activist investor Peltz asks DuPont to split into two
Sept 17 (Reuters) - Activist investor Nelson Peltz's Trian Fund Management LP, which holds a $1.6...
Ambitious U.S. pipeline firm Buckeye quietly makes key acquisition: D.C. lobbyist
NEW YORK, Sept 17 (Reuters) - Houston-based logistic firm Buckeye Partners has spent more than $3...
UPDATE 1-European bank test results to be announced Oct. 26 -sources
FRANKFURT, Sept 17 (Reuters) - The results of Europe's most comprehensive ever review of its bank...
UPDATE 1-Credit Suisse loans under U.S. Fed scrutiny -WSJ
Sept 17 (Reuters) - The U.S. Federal Reserve has asked Credit Suisse to address problems relating...
RPT-INSIGHT-European stress tests to challenge banks' political defences
DUBLIN/FRANKFURT, Sept 16 (Reuters) - For the first time since its financial crisis struck in 200...
UPDATE 1-Market Chatter-Corporate finance press digest - Sept 17
Sept 17 (Reuters) - The following corporate finance-related stories were reported by media:
Activist investor Peltz wants DuPont to break up - WSJ
Sept 17 (Reuters) - Activist investor Nelson Peltz's Trian Fund Management has called for a break...
PRESS DIGEST- New York Times business news - Sept 17
Sept 17 (Reuters) - The following are the top stories on the New York Times business pages. Reute...
Credit Suisse loans under US Fed scrutiny - WSJ
Sept 17 (Reuters) - The U.S. Federal Reserve has asked Credit Suisse Group AG to immediately addr...
PRESS DIGEST - Wall Street Journal - Sept 17
Sept 17 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not...