By Jeff Dale2023-04-17T17:56:00
New York-based investment adviser Corvex Management agreed to pay $1 million to settle allegations it failed to disclose personnel ownership in certain sponsors of special purpose acquisition companies (SPACs) and didn’t have policies and procedures reasonably designed to thwart conflicts of interest.
Corvex agreed to a censure and to cease and desist from further violations of the Investment Advisers Act, the Securities and Exchange Commission (SEC) announced in an administrative proceeding Friday. The company neither admitted nor denied the agency’s findings.
Between 2020 and 2021, unnamed Corvex personnel were involved in the formation of three SPACs and shared ownership of the SPACs’ sponsors, according to the SEC’s order.
2023-05-08T17:03:00Z By Aaron Nicodemus
The Securities and Exchange Commission charged New York-based Pinnacle Advisors and several mutual fund trustees with aiding and abetting violations of its Liquidity Rule—the agency’s first enforcement action related to the policy.
2023-01-31T20:04:00Z By Aaron Nicodemus
The Securities and Exchange Commission issued a risk alert listing deficiencies its examiners found in broker-dealers’ compliance with Regulation Best Interest.
2023-01-20T21:21:00Z By Adrianne Appel
Investment adviser Moors & Cabot reached a $1.9 million settlement with the Securities and Exchange Commission over allegations the firm didn’t fairly disclose conflicts of interest associated with incentive payments it received from two unaffiliated clearing brokers.
2025-08-06T20:18:00Z By Aly McDevitt
A delayed product hazard report cost one company criminal and civil penalties—and a mother her life. This case shows why timely reporting and executive accountability are non-negotiable for compliance teams.
2025-08-06T14:00:00Z By Oscar Gonzalez
The Trump administration declawed the Consumer Financial Protection Bureau from the very beginning of his second term. It now appears the agency might be running out of money.
2025-08-05T16:23:00Z By Adrianne Appel
The Securities and Exchange Commission and Department of Justice ended a seven-year review of GE HealthCare Technologies’ China unit for possible violations of the Foreign Corrupt Practices Act.
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