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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 Dallas-Based Trader With Front Running

    FOR IMMEDIATE RELEASE
    2013-93

    Washington, D.C., May 24, 2013 — The Securities and Exchange Commission today announced fraud charges and an asset freeze against a trader at a Dallas-based investment advisory firm who improperly profited by placing his own trades before executing large block trades for firm clients that had strong potential to increase the stock's price.

    Additional Materials

    The SEC alleges that Daniel Bergin, a senior equity trader at Cushing MLP Asset Management, secretly executed hundreds of trades through his wife's accounts in a practice known as front running. Bergin illicitly profited by at least $520,000 by routinely purchasing securities in his wife's accounts earlier the same day he placed much larger orders for the same securities on behalf of firm clients. Bergin concealed his lucrative trading by failing to disclose his wife's accounts to the firm and avoiding pre-clearance of his trades in those...

  • SEC Charges Institutional Shareholder Services in Breach of Clients' Confidential Proxy Voting Information

    FOR IMMEDIATE RELEASE
    2013-92

    Washington, D.C., May 23, 2013 — The Securities and Exchange Commission today charged a Rockville, Md.-based proxy adviser for failing to safeguard the confidential proxy voting information of clients participating in a number of significant proxy contests.

    Additional Materials

    An SEC investigation found that an employee at Institutional Shareholder Services (ISS) provided a proxy solicitor with material, nonpublic information revealing how more than 100 ISS institutional...

  • SEC Charges City of South Miami with Defrauding Investors About Tax-Exempt Status of Municipal Bonds

    FOR IMMEDIATE RELEASE
    2013-91

    Washington, D.C., May 22, 2013 — The Securities and Exchange Commission today charged the City of South Miami, Fla., with defrauding bond investors about the tax-exempt financing eligibility of a mixed-use retail and parking structure being built in its downtown commercial district.

    Additional Materials

    An SEC investigation found that the city of 11,000 residents located in Miami-Dade County borrowed approximately $12 million in two pooled, conduit...

  • 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 Press Releases