SEC Charges Incarcerated Felon and Five Friends in $2 Million Fraud Scheme

The Securities and Exchange Commission today charged six individuals, including a federal inmate, for conducting a freeriding scheme that defrauded multiple broker-dealers. The SEC’s complaint alleges that from May 2019 to early January 2021, Syed Arham…

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SEC Adopts Rules to Enhance Proxy Voting Disclosure by Registered Investment Funds and Require Disclosure of “Say-on-Pay” Votes for Institutional Investment Managers

The Securities and Exchange Commission today adopted amendments to Form N-PX to enhance the information mutual funds, exchange-traded funds, and certain other registered funds report about their proxy votes. The amendments will make these funds’ proxy…

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SEC Awards $20 Million to Whistleblower

The Securities and Exchange Commission today announced an award of $20 million to a whistleblower who provided new and critical information that led to the success of an enforcement action. In determining the appropriate award amount, the SEC considered…

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SEC Charges Creator of Global Crypto Ponzi Scheme and Three US Promoters in Connection with $295 Million Fraud

The Securities and Exchange Commission today announced charges against Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault for their roles in Trade Coin Club, a fraudulent crypto Ponzi scheme that raised more than 82,000…

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Keith E. Cassidy and Natasha Vij Greiner Appointed Deputy Directors of Division of Examinations

The Securities and Exchange Commission today named Keith E. Cassidy and Natasha Vij Greiner as Deputy Directors of the Division of Examinations. “Our examinations function plays an essential role as the eyes and ears on the ground for the Commission,”…

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SEC Publishes FY22-26 Strategic Plan

The Securities and Exchange Commission today released its Strategic Plan for fiscal years 2022 to 2026, outlining agency objectives to fight against fraud, maintain a robust and relevant regulatory framework, and sustain a skilled and diverse workforce…

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SEC Charges Unregistered Brokers that Facilitated more than $1.2 Billion in Primarily Penny Stock Trades

The Securities and Exchange Commission today charged Jeffrey K. Galvani, Stuart A. Jeffery, and two New York-based entities they controlled with operating as unregistered broker-dealers that facilitated more than $1.2 billion of securities trading,…

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Morgan Stanley Advisors Leaving Over New Account Restrictions

Morgan Stanley is increasing its account minimum requirements for international clients and is set to close or suspend thousands of domestic and offshore wealth management accounts as part of a due diligence review, according to Citywire.
The firm informed staff on Tuesday morning that accounts with less than $5m currently awaiting review by its due diligence team will be closed while accounts above this threshold would be subject to a slew of trading restrictions, according to a number of sources familiar with the changes.

SEC Announces Enforcement Results for FY22

The Securities and Exchange Commission today announced that it filed 760 total enforcement actions in fiscal year 2022, a 9 percent increase over the prior year. These included 462 new, or “stand alone,” enforcement actions, a 6.5 percent increase over…

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SEC Adopts Compensation Recovery Listing Standards and Disclosure Rules

The Securities and Exchange Commission today adopted rules to require securities exchanges to adopt listing standards that require issuers to develop and implement a policy providing for the recovery of erroneously awarded incentive-based compensation…

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