Securities Law

SEC Sweep into Marketing Rule Violations Results in Charges Against Nine Investment Advisers

September 11, 2023

The Securities and Exchange Commission today announced charges against nine registered investment advisers for advertising hypothetical performance to the general public on their websites without adopting and/or implementing policies and procedures… Full report at: Read More

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SEC Charges Privately Held Monolith Resources for Using Separation Agreements that Violated Whistleblower Protection Rules

September 8, 2023

The Securities and Exchange Commission today announced settled charges against Monolith Resources LLC, a privately held energy and technology company headquartered in Lincoln, Nebraska, for using employee separation agreements that violated the SEC’s… Full report at: Read More

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Linus Financial Agrees to Settle SEC Charges of Unregistered Offer and Sale of Securities

September 7, 2023

The Securities and Exchange Commission today announced settled charges against Linus Financial, Inc. for failing to register the offers and sales of its retail crypto lending product, the Linus Interest Accounts. The SEC determined not to impose civil… Full report at: Read More

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SEC Charges Fluor Corp. for Accounting Improprieties

September 6, 2023

The Securities and Exchange Commission today announced that Irving, Texas-based Fluor Corporation will pay $14.5 million to settle charges stemming from the company’s improper accounting on two large-scale, fixed-price construction projects. Five former… Full report at: Read More

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SEC Approves Funding Amendment to National Market System Plan Governing the Consolidated Audit Trail

September 6, 2023

The Securities and Exchange Commission today approved an amendment to the National Market System Plan governing the Consolidated Audit Trail (CAT) (the “CAT NMS Plan”) to adopt a revised funding model, called the “Executed Share Model,” for the CAT… Full report at: Read More

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SEC Charges Five Advisory Firms for Custody Rule Violations

September 5, 2023

The Securities and Exchange Commission today announced charges against five investment advisers for failing to comply with requirements related to the safekeeping of client assets. Three of the firms were also charged with failing to timely update SEC… Full report at: Read More

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SEC Charges Private Equity Firm Prime Group for Inadequate Disclosure of Fees Paid to Affiliate

September 5, 2023

The Securities and Exchange Commission today charged Prime Group Holdings LLC, a private equity firm focused on alternative real estate asset classes, for failing to adequately disclose millions of dollars of real estate brokerage fees that were paid to… Full report at: Read More

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SEC Directs Equity Exchanges and FINRA to Improve Governance of Market Data Plans

September 1, 2023

The Securities and Exchange Commission today issued an order directing the equity exchanges and the Financial Industry Regulatory Authority (FINRA) (the participants) to file a new national market system plan (NMS plan) to replace the three existing… Full report at: Read More

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SEC Charges Citigroup Global Markets Inc. with Recordkeeping Failures concerning Underwriting Expenses

August 29, 2023

The Securities and Exchange Commission today announced settled cease-and-desist proceedings against broker-dealer Citigroup Global Markets Inc. (CGMI) for willfully violating recordkeeping requirements concerning expenses that the firm incurred in… Full report at: Read More

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SEC Charges Archipelago Trading Services with Failing to File Suspicious Activity Reports

August 29, 2023

The Securities and Exchange Commission today announced charges against Archipelago Trading Services Inc. (ATSI) for failing to file hundreds of legally required reports of suspicious financial transactions, known as Suspicious Activity Reports (SARs),… Full report at: Read More

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