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You are here: SEC & Securities Law SEC Press Releases

Trending ..... Broker-Dealer Faces FCPA, Travel Act and Securities Fraud Charges for Venezuelan Payments ..... SEC Charges City of Harrisburg with Securities Fraud for Fraudulent Public Statements ..... SEC Proposes Rules for Cross-Border Security-Based Swap Activities ..... Ralph Lauren Settles FCPA Charges ..... SEC/CFTC Issue Identity Theft Rules ..... Netflix Report: Regulation FD & Social Media ..... SEC Warns on Use of "Finders" ..... In re Puda Coal: Claims Against Chinese Directors Get Go Ahead ..... SEC Proposes More Tech Rules for Automated Systems ..... Kallick: DE Board Enjoined from Opposing Rival Slate ..... Advisers Falling Short on Custody Rule ..... SCOTUS Rules on Amgen; Materiality for Class Certification ..... Gabelli v. SEC: SCOTUS on Limitations Period for Federal Enforcement Actions ..... SEC's 2013 Adviser Examination Priorities ..... SEC Speaks ..... Say-on-Pay Litigation ..... District Court on SEC's FCPA Reach ..... SEC Eyes Up Private Equity ..... DOJ/SEC Issue FCPA Guidance ..... Iran Sanctions Include SEC Disclosure Mandate .....

  • SEC Charges Chicago-Area Father and Son Conducted Cherry-Picking Scheme at Investment Firm

    FOR IMMEDIATE RELEASE
    2013-90

    Washington, D.C., May 16, 2013 — The Securities and Exchange Commission today charged a father and son and their Chicago-area investment advisory firm with defrauding clients through a cherry-picking scheme that garnered them nearly $2 million in illicit profits, which they spent on luxury homes, vehicles, and vacations.

    Additional Materials

    The SEC alleges that Charles J. Dushek and his son Charles S. Dushek placed millions of dollars in securities trades without designating in advance...

  • SEC Names Keith F. Higgins as Director of Division of Corporation Finance

    FOR IMMEDIATE RELEASE
    2013-89

    Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance.

    Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public companies about securities offerings, mergers and acquisitions, compliance, and corporate governance. Mr. Higgins also has regularly advised underwriters in IPOs and other public equity offerings. He will begin his new position next month.

    “Keith is a widely-respected expert on the securities laws with a wealth of knowledge and experience in the many issues confronting the Division,” said Mary Jo White, Chair of the SEC. “He understands and appreciates the importance of our disclosure laws in helping to ensure that investors...

  • SEC Names Lona Nallengara as Chief of Staff

    FOR IMMEDIATE RELEASE
    2013-88

    Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today announced that Lona Nallengara has been named the agency’s chief of staff.

    Mr. Nallengara came to the SEC in March 2011 and served as deputy director for legal and regulatory policy in the Division of Corporation Finance until he was appointed in December 2012 as its acting director.

    Mr. Nallengara has led a series of complex rulemakings by the Division of Corporation Finance stemming from the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Jumpstart Our Business Startups (JOBS) Act.

    “Lona has been superb in leading the Division and has demonstrated tremendous judgment, intelligence and knowledge,” said Mary Jo White, SEC Chair. “In my short time here, I have come to appreciate his broad grasp of the agency’s overall agenda and his understanding of the...

  • SEC Charges China-Based Executives in Scheme to Overstate Revenues and Divert Money for Personal Use

    FOR IMMEDIATE RELEASE
    2013-87

    Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today charged husband-and-wife executives at a China-based company with engaging in a scheme to overstate the company’s revenues and divert proceeds from a securities offering for their personal use.

    Additional Materials

    The SEC alleges that RINO International Corporation’s chief executive officer Dejun “David” Zou and chairman of the board Jianping “Amy” Qiu diverted $3.5 million in company money to purchase a luxury home...

  • SEC, FINRA Issue Investor Alert On Pension or Settlement Income Streams

    FOR IMMEDIATE RELEASE
    2013-86

    Washington, D.C., May 9, 2013 — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them.

    The investor alert informs investors about the risks involved when selling their rights to an income stream or investing in someone else’s income stream.  The alert urges investors considering an investment in pension or settlement income streams to proceed with caution.

    Anyone receiving a monthly pension or regular distributions from a settlement following a personal injury lawsuit may be targeted by salespeople offering an immediate lump sum in exchange for the rights to some or all of the payments the person would otherwise receive in future.  Typically, recipients of a pension or structured settlement will sign over the rights to some...

SEC Press Releases