Regulation
SEC Lawsuit Against Ripple Could Rattle Crypto Exchanges
Creator of third-largest cryptocurrency, XRP, sued over alleged $1.4 billion unregistered offering.
Tag: SEC
Coronavirus - COVID-19
CEO Charged in Rapid COVID-19 Test Scam
Decision Diagnostics’ stock soared 1,500% in less than two months on allegedly false claims of a 15-second COVID-19 test.
Risk
Former Nanotech Firm CEO Charged with Fraud over Fictitious Cancer Detector
James Barbera allegedly told investors that his firm had a NASA-developed breathalyzer that could detect cancer and narcotics.
Regulation
UK Hedge Fund Manager to Pay $170 Million to Settle SEC Charges
BlueCrest Capital Management allegedly misled investors about replacing traders with an underperforming algorithm.
Risk
SEC Charges Firm for Targeting Haitian-Americans in Alleged Fraud
The CEO told investors their money would help to fund agriculture, renewable energy, and ecommerce projects in Haiti.
Regulation
Nasdaq Proposes Board Diversity Requirements
Market operator files SEC proposal to require company boards to meet certain guidelines to be listed on the exchange.
Regulation
Former CEO, COO of MiMedx Convicted of Securities Fraud
CEO Parker Petit and COO William Taylor were found guilty of falsely inflating the biopharmaceutical company’s revenue figures.
Regulation
Financial Adviser Sentenced to More Than 3 Years in Prison for Ponzi Scheme
James Booth convinced an elderly widow to invest her late husband’s pension and another investor to hand over his child’s college funds.
Regulation
SEC Charges Five Firms for Unsuitable Exchange-Traded Product Sales
The companies’ advisers told clients to hold complex short-term investments for as long as a year or more, contrary to warnings in offering documents.
Regulation
Wells Fargo Ex-CEO Stumpf Pays $2.5 Million to Settle SEC Charges He Misled Investors
Former Community Bank head Carrie Tolstedt has also been charged by the regulator.
Regulation
SEC Collects Record $4.68 Billion in Disgorgement, Penalties in Fiscal 2020
The regulator also doled out a record $175 million to whistleblowers during the year.
Alternatives
Principles for Responsible Investment Calls for Reversal of Anti-ESG Trump Policies
CEO of UN-backed group says Biden administration has opportunity to ‘make American finance great again.’
Manager Selection
Judge Rules Sterne Agee Analyst Complicit in NY Pension Pay-to-Play Scheme
John Paulsen planned ski trip for New York state pension fund fixed-income director in exchange for business directed to firm.
Regulation
Ex-Trader Gets More Than 5 Years in Prison for Ponzi Scheme
Paul Rinfret pleaded guilty to defrauding investors of more than $19 million
Regulation
SEC, SDNY Charge Seismic Data Firm in $100 Million Accounting Fraud
Former SAExploration CEO faces up to 65 years in prison in connection with alleged scheme.