Securities Law

SEC Charges 16 Wall Street Firms with Widespread Recordkeeping Failures

September 27, 2022

The Securities and Exchange Commission today announced charges against 15 broker-dealers and one affiliated investment adviser for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications.… Full report at: Read More

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SEC Charges Oracle a Second Time for Violations of the Foreign Corrupt Practices Act

September 27, 2022

The Securities and Exchange Commission announced settled charges requiring Oracle Corporation to pay more than $23 million to resolve charges that it violated provisions of the Foreign Corrupt Practices Act (FCPA) when subsidiaries in Turkey, the United… Full report at: Read More

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SEC Charges Father-Son Duo and Associate in Market Manipulation Schemes Resulting in a New Jersey Deli with a $100 Million Valuation

September 26, 2022

The Securities and Exchange Commission today charged Peter L. Coker Sr., Peter L. Coker Jr., and James T. Patten for their roles in orchestrating fraudulent manipulative securities trading schemes. These schemes included artificially inflating the… Full report at: Read More

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SEC Charges Compass Minerals for Misleading Investors about Its Operations at World’s Largest Underground Salt Mine

September 23, 2022

The Securities and Exchange Commission today announced settled charges against Compass Minerals International Inc. for misleading investors about a technology upgrade that the company claimed would reduce costs at its most significant mine, but in… Full report at: Read More

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Boeing to Pay $200 Million to Settle SEC Charges that it Misled Investors about the 737 MAX

September 22, 2022

The Securities and Exchange Commission today charged The Boeing Company and its former CEO, Dennis A. Muilenburg, with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019. The crashes involved Boeing’s… Full report at: Read More

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SEC Charges Cheetah Mobile’s CEO and its Former President with Insider Trading

September 21, 2022

The Securities and Exchange Commission today charged the CEO of Cheetah Mobile Inc. and the company’s former President with insider trading for selling Cheetah Mobile’s securities, pursuant to a purported 10b5-1 trading plan, while in possession of… Full report at: Read More

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Morgan Stanley Smith Barney to Pay $35 Million for Extensive Failures to Safeguard Personal Information of Millions of Customers

September 20, 2022

The Securities and Exchange Commission today announced charges against Morgan Stanley Smith Barney LLC (MSSB) stemming from the firm’s extensive failures, over a five-year period, to protect the personal identifying information, or PII, of approximately… Full report at: Read More

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Sparkster to Pay $35 Million to Harmed Investor Fund for Unregistered Crypto Asset Offering

September 19, 2022

The Securities and Exchange Commission today issued a cease-and-desist order against Sparkster Ltd. and its CEO, Sajjad Daya, for the unregistered offer and sale of crypto asset securities from April 2018 through July 2018 and charged crypto influencer… Full report at: Read More

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SEC Investor Advisory Committee to Discuss Human Capital Labor Valuation, Security-Based Swaps, Beneficial Ownership, and ESG Disclosure on Sept. 21

September 19, 2022

The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on September 21 at 10 a.m. ET. The meeting will be webcast on the SEC website. The committee will host four panels to discuss: Human… Full report at: Read More

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Office of the Investor Advocate Releases Research Study on Fund Performance Benchmarks

September 19, 2022

Researchers from the SEC’s Office of the Investor Advocate (OIAD) released an independent research study examining the impact of mutual fund performance benchmarks on investor decision-making, and potential strategic behavior by firms in displaying… Full report at: Read More

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