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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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 Announces Departure of Chief of Staff Prashant Yerramalli and Appointment of Amanda Fischer to the Role

The Securities and Exchange Commission today announced that Chief of Staff Prashant Yerramalli will leave the agency, effective Dec. 31, 2022. Amanda Fischer, currently Senior Counselor to Chair Gary Gensler, will be appointed Chief of Staff, effective…

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Why is the Powerball so Large?

I will admit, a billion dollar prize got my attention,  and my friends and I have been buying tickets. 

But why is the big prize so big? CNN has a theory – its the FED!
It actually makes sense. Keep in mind that no one takes the annuity payout; everyone wants the cash.
But it is that annuity payout that everyone focuses on. So why is it so big? 1.9 BILLION  dollars is a lot of money…if you wait for it.
CNN explains:
$1.9 billion top prize is the amount winners would get, which involves taking 30 equal payments of about $63 million spread out over the next 29 years. Those payments come from an annuity purchased by the lottery sponsors, and the payments factor in an average rate of return.
Interest rates are up, annuity rates are up, lottery payouts are up.
Ok, we get it. But no thanks  like every other lottery winner I’ll take my prize in cash.
https://www.cnn.com/2022/11/05/investing/powerball-record-prize-fed-interest-rates-ctrp/index.html?Type=Store&bt_ee=7qsilqhTznC9Nu9UHtDP0x4A1wUpi0ir9ukA%2FPk1G0Xav6yHZUmN7hz2n%2B62ItPI&bt_ts=1667858784450

SEC Charges Goldman Sachs Asset Management for Failing to Follow its Policies and Procedures Involving ESG Investments

The Securities and Exchange Commission today charged Goldman Sachs Asset Management, L.P. (GSAM) for policies and procedures failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance…

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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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SEC Charges S&P Global Ratings with Conflict of Interest Violations

The Securities and Exchange Commission today charged S&P Global Ratings, a nationally recognized statistical rating organization (NRSRO) registered with the Commission, with violating conflict of interest rules designed to prevent sales and marketing…

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SEC Charges Pharmaceutical Co. Chief Information Officer in $8 Million Insider Trading Scheme

The Securities and Exchange Commission today announced insider trading charges against Ramkumar Rayapureddy, Chief Information Officer of pharmaceutical company Viatris Inc., which was formerly known as Mylan N.V. The SEC’s complaint, filed in the…

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SEC Updates List of Firms Using Inaccurate Information to Solicit Investors

The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 35 soliciting entities, four impersonators of genuine firms, and four…

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SEC Names Jason J. Burt as Regional Director of the Denver Office

The Securities and Exchange Commission today announced that Jason J. Burt has been named Regional Director of the Denver Office, where he has served as Acting Co-Director since July. “I am pleased that Jason will head the Denver Regional Office after an…

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