The Securities and Exchange Commission today announced that Fixed Income Clearing Corporation (FICC), a clearing agency, has agreed to pay an $8 million penalty to settle SEC charges that it failed to have adequate risk management policies within its… Read the Full Press Release Have a securities law question? Call […]
Month: October 2021
SEC Awards More Than $2 Million to Whistleblower for Successful Related Action
The Securities and Exchange Commission today announced an award of more than $2 million to a whistleblower who provided information that led to a successful related action by the U.S. Department of Justice. The whistleblower previously received an award for contributions to an SEC enforcement action based on the same […]
SEC Charges Newport Beach Company and its Principals with Operating a $13.5 Million Ponzi-Like Scheme
The Securities and Exchange Commission today announced that it has charged BNZ, a Newport Beach, California-based company, and its co-founders and co-managers Brett Barber and Louis Zimmerle, for fraudulently raising $13.5 million from more than 100… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Charges Financial Adviser With Stealing Investor Funds to Pay Off Credit Cards, Buy Gold Coins
he Securities and Exchange Commission today charged a former New Jersey-based broker and investment adviser representative with stealing nearly $3 million from his advisory clients and brokerage customers, which he used to buy gold coins and other precious metals and funnel to family credit card accounts that he controlled. The […]
Post-SPAC Music Steaming Company Reaches $38.8 Million Settlement in Ongoing Fraud Action
The Securities and Exchange Commission today announced a $38.8 million settlement of charges against Akazoo S.A., a purported music streaming business based in Greece, for allegedly defrauding investors out of tens of millions of dollars in connection… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Issues Agendas for October 28 and November 3 Meetings of the Asset Management Advisory Committee
(function($) { $(document).ready(function() { $(“.submitcommentslink”).click(function(e) { e.preventDefault(); $(“.comment-form”).submit(); }); $(‘.panel-col-last h2.pagelet’).replaceWith(function () {… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
SEC Obtains Asset Freeze and Other Relief in Halting Penny Stock Scheme on Twitter
The Securities and Exchange Commission today announced that it filed an emergency action, and obtained an injunction and asset freeze, against Steven M. Gallagher for allegedly committing securities fraud through a long running scheme to manipulate… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Awards Over $50 Million to Joint Whistleblowers
The Securities and Exchange Commission announced an award of over $50 million to joint whistleblowers whose information alerted SEC staff to violations that involved highly complex transactions and would have been difficult to detect without their information. The joint whistleblowers provided exemplary assistance to the SEC staff during the investigation, […]
Credit Suisse to Pay Nearly $475 Million to U.S. and U.K. Authorities to Resolve Charges in Connection with Mozambican Bond Offerings
Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the Securities and Exchange Commission, for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Staff Releases Report on Equity and Options Market Structure Conditions in Early 2021
The Securities and Exchange Commission today published a Staff Report on Equity and Options Market Structure Conditions in Early 2021, which focuses on the January 2021 trading activity of GameStop Corp (GME), the most famous of the “meme… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
