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

Displaying 11-20 out of 180 results

Enforcement Actions: Week in Review - July 17th, 2015

(Jul 2015)

SEC ENFORCEMENT ACTIONS

SEC Announces Settlement With Cooperator in Grand Central Post-It Notes Insider Trading Case
July 13, 2015 (Litigation Release No. 143)
The SEC announced a settlement with Frank Tamayo for cooperating in a continuing insider trading investigation where illegal information was passed via Post-It notes at Grand Central Terminal. Tamayo was alleged to distributing received tips from a law firm clerk to a stockbroker that he would meet up with at Grand Central Terminal,...

Enforcement Actions: Week in Review - July 10th, 2015

(Jul 2015)

SEC ENFORCEMENT ACTIONS

SEC Charges Oil Company and CEO in Scheme Targeting Chinese-Americans and EB-5 Investors
July 6, 2015 (Litigation Release No. 141)
The SEC has charged CEO Bingqing Yang and her company Luca International Group for fraud. The SEC alleges that Yang gave presentations with falsely depicting a large, successful company. Yang allegedly used new investors' funds, in a Ponzi-scheme fashion, to make payments to older investors. The SEC also claims that over $2.4 million of...

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

(Jul 2015)

SEC ENFORCEMENT ACTIONS

SEC Charges KKR With Misallocating Broken Deal Expenses
June 29, 2015 (Litigation Release No. 131)
Kohlberg Kravis Roberts & Co. (KKR) has agreed to pay nearly $30 million to settle the SEC's charges of misallocating more than $17 million in broken deal expenses. The SEC also found that KKR incurred $338 million in broken deal or diligence expenses during a six-year period ending in 2011. KKR failed to expressly disclose how fund expenses would be allocated; KKR did...

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

(Jun 2015)

SEC ENFORCEMENT ACTIONS

SEC Charges Unregistered Brokers in EB-5 Immigrant Investor Program
June 23, 2015 (Litigation Release No. 127)
Ireeco LLC and its successor Ireeco Limited were charged with being unregistered brokers after the firms handled more than $79 million of investments. Ireeco brokered investments for more than 150 foreign investors through the governments EB-5 program. The EB-5 program allows foreigners who invest directly in a U.S. business or private "regional centers"...

Enforcement Actions: Week in Review - June 19th, 2015

(Jun 2015)

SEC ENFORCEMENT ACTIONS

Swiss Trader to Pay $2.8 Million to Settle Insider Trading Charges
June 15, 2015 (Litigation Release No. 119)
The SEC alleges that Swiss trader Helmut Ansheringer bought stock and call options based on non-public information that AuthenTec, a company that provides fingerprint sensors and software, would be purchased by Apple Inc. AuthenTec's public announcement that they would become a wholly-owned subsidiary of Apple led to a roughly 60% increase in their stock...

Enforcement Actions: Week in Review - June 12th, 2015

(Jun 2015)

SEC ENFORCEMENT ACTIONS

SEC Names Richard R. Best as Regional Director of Salt Lake Office
June 8, 2015 (Litigation Release No. 113)
Richard R. Best will be succeeding Karen Martinez as Regional Director of the SEC's Salt Lake office. Mr. Best's qualifications include: serving as senior director and chief counsel in the Department of Enforcement for FINRA in New York, holding other supervisory and investigative positions within FINRA's Enforcement function, and having 10 years of...

Enforcement Actions: Week in Review - June 5th, 2015

(Jun 2015)

SEC ENFORCEMENT ACTIONS

Merrill Lynch Admits Using Inaccurate Data for Short Sale Orders, Agrees to $11 Million Settlement
June 1, 2015 (Litigation Release No. 105)
An SEC investigation found some of Merrill Lynch's programs to execute short sale trades were using inaccurate and old data. Merrill Lynch and other broker-dealers are required to maintain an up to date easy-to-borrow (ETB) list composed of stocks that are readily accessible to borrow for short sale orders. Merrill Lynch...

Enforcement Actions: Week in Review - May 29th, 2015

(May 2015)

SEC ENFORCEMENT ACTIONS

SEC Charges Deutsche Bank With Misstating Financial Reports During Financial Crisis
May 26, 2015 (Litigation Release No. 99)
Deutsche Bank AG has agreed to pay a $55 million penalty to settle charges that they overvalued a portfolio of derivatives by failing to properly value their "gap risk". The derivatives portfolio in question contained "Leveraged Super Senior" (LSS) trades that Deutsche Bank used in order to buy protection against credit default losses. The...

Enforcement Actions: Week in Review - May 22nd, 2015

(May 2015)

SEC ENFORCEMENT ACTIONS

Peter J. Curley, Associate Director in the Division of Trading and Markets, to Leave SEC
May 18, 2015 (Litigation Release No. 91)
Peter J. Curley, Associate Director for Clearance and Settlement in the Division of Trading and Markets, will be leaving the SEC later this month. Mr. Curley has made many contributions to the division and the agency during the time of development by heading the Office of Clearance and Settlement since October 2011. Mr. Curley's had...

Enforcement Actions: Week in Review - May 15th, 2015

(May 2015)

SEC ENFORCEMENT ACTIONS

SEC Sues Retirement Planners for Making False Claims to Investors
May 11, 2015 (Litigation Release No. 85)
Novers Financial and its principals, Christopher A. Novinger and Brady J. Speers, were charged with falsely informing customers that interests in life settlements they sold were guaranteed and federally insured. Interests in life settlements are investments that are based on life insurance policies purchased by others. These interests are not risk-free or...

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