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Our experts frequently write blog posts about the findings of the research we are conducting.

Displaying 101-110 out of 689 results

Enforcement Actions: Week in Review - January 30th, 2015

(Jan 2015)

SEC ENFORCEMENT ACTIONS

SEC Charges Oppenheimer With Securities Law Violations Related to Improper Penny Stock Sales
January 27, 2015 (Litigation Release No. 14)
The SEC has charged Oppenheimer & Co. with breaking federal securities law over illegal sales of penny stocks. They are accused of allowing non-registered sales in their accounts, ignoring red-flags and failing to file Suspicious Activity Reports. Gibralter Global Securities, a Bahamas-based brokerage firm, is one customer alleged...

Enforcement Actions: Week in Review - January 26th, 2015

(Jan 2015)

SEC ENFORCEMENT ACTIONS

SEC Announces Charges against Standard & Poor's for Fraudulent Ratings Misconduct
January 21, 2015 (Litigation Release No. 10)
The rating agency Standard & Poor's violated a series of federal securities laws, according to an SEC investigation. Standard & Poor's Rating Services loosened its rating criteria on certain commercial mortgage-backed securities in order to attract business. Additionally, Standard & Poor's misrepresented their rating criteria on commercial...

Enforcement Actions: Week in Review - January 16th, 2015

(Jan 2015)

SEC ENFORCEMENT ACTIONS

SEC Charges Direct Edge Exchanges With Failing to Properly Describe Order Types
January 12, 2015 (Litigation Release No. 2)
In the first case focused on stock exchange order types, the SEC has settled with the EDGA and EDGX exchanges for $14 million over charges that they did not accurately describe their order types. These exchanges, formerly owned by Direct Edge Holdings before being acquired by BATS Global Markets, were found to have offered multiple "price...

Enforcement Actions: Week in Review - January 9th, 2015

(Jan 2015)

SEC ENFORCEMENT ACTIONS

SEC Names Walter Jospin as Regional Director of Atlanta Office
January 8, 2015 (Litigation Release No. 1)
Walter Jospin will oversee enforcement and examinations as the Regional Director of the SEC's Atlanta Office. Jospin graduated from the Wharton School at the University of Pennsylvania and graduated law school from Emory University. He has previously worked for the SEC's Enforcement Division dealing with investigations into accounting and financial fraud,...

Enforcement Actions: Week in Review - January 2nd, 2015

(Jan 2015)

SEC ENFORCEMENT ACTIONS

SEC Announces Charges Against N.Y.-Based Firm and Three Executives Accused of Siphoning Investor Money
December 29, 2014 (Litigation Release No. 294)
The SEC has charged VERO Capital Management, its president, general counsel, and CFO with channeling investors' money into a side venture. Robert Geiger, George Barbaresi and Steven Downey managed a pair of funds invested primarily in mortgage-backed securities at VERO Capital Management. The SEC alleges that, while in...

Enforcement Actions: Week in Review - December 23rd, 2014

(Dec 2014)

SEC ENFORCEMENT ACTIONS

SEC Charges Investment Manager F-Squared and Former CEO With Making False Performance Claims
December 22, 2014 (Litigation Release No. 289)
It's been announced today that F-Squared Investments has agreed to settle with the SEC over charges that they defrauded investors of their AlphaSector indices. The SEC alleged that F-Squared falsely claimed a seven year performance track record, created by applying their model to historical data. The backtested record is also...

Enforcement Actions: Week in Review - December 19th, 2014

(Dec 2014)

SEC ENFORCEMENT ACTIONS

SEC Charges Massachusetts-Based Scientific Instruments Manufacturer with FCPA Violations Rules
December 15, 2014 (Litigation Release No. 280)
The SEC charged Bruker Corporation approximately $2.4 million for violating the Foreign Corrupt Practices Act (FCPA). Bruker Corporation had insufficient internal controls which lead to approximately $230,000 in improper payments to various Chinese government officials. The improper payments enabled Bruker to realize...

Enforcement Actions: Week in Review - December 12th, 2014

(Dec 2014)

SEC ENFORCEMENT ACTIONS

SEC Sanctions Eight Audit Firms for Violating Auditor Independence Rules
December 8, 2014 (Litigation Release No. 272)
The SEC sanctioned the following firms for violating auditor's independence criteria: BKD LLP, Boros & Farrington Accountancy Corporation, Brace & Associates PLLC, Robert Cooper & Company CPA PC, Lally & Co LLC, Lerner & Sipkin CPAs LLP, OUM & Co LLP, and Joseph Yafeh CPA Inc. While performing audits for their broker-dealer clients, these firms...

Enforcement Actions: Week in Review - December 5th, 2014

(Dec 2014)

SEC ENFORCEMENT ACTIONS

SEC Charges California Resident With Fraudulent Sales of Stock
December 2, 2014 (Litigation Release No. 268)
The SEC has charged Vinay Kumar Nevatia for fraudulently selling $900,000 of private shares of CSS Corp. The SEC contends that Kumar, living in Palo Alto under several aliases, sold shares in 2011 and 2012 that he had already sold in 2008. Kumar has never been registered with the SEC.

SEC Announces Fraud Charges Against Two Executives in Scheme Involving...

15 Days in Puerto Rico Cost UBS Clients Over $1 Billion

(Dec 2014)

We've shown in recent posts that UBS underwrote $1.7 billion of unmarketable ERS bonds and bought them into the UBS PR Funds. You can find our earlier blog posts here. UBS made room these ERS bonds by selling out of the Funds other bonds UBS didn't underwrite. UBS bought the ERS bonds it underwrote in 2008 because there was no other market for the bonds it was underwriting.

Recently we illustrated how UBS-underwritten conflicted bonds purchased by UBS into the funds in 2008 caused losses in...

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