- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-08-16T19:36:00
Pennsylvania-based Malvern Bancorp and its former chief financial officer agreed to settle allegations levied by the Securities and Exchange Commission (SEC) regarding antifraud, reporting, books and records, and internal accounting control violations.
The bank and Joseph Gangemi, its former CFO, agreed to cease and desist from further violations and pay penalties of $350,000 and $40,000, respectively. The SEC said in an administrative proceeding Tuesday it found Gangemi caused Malvern’s violations.
Between December 2017 and February 2021, Malvern repeatedly failed to timely recognize and account for impairment issues regarding large commercial real estate loans causing material misstatements over several quarters, the SEC alleged in its order.
2023-09-13T14:24:00Z By Kyle Brasseur
Virtu Financial and its broker-dealer affiliate Virtu Americas face a lawsuit filed by the Securities and Exchange Commission alleging the company misled its customers regarding its safeguards to protect their information contained in its trading business database.
2023-08-16T19:14:00Z By Kyle Brasseur
Diversified holding company Ault Alliance agreed to pay $700,000 as part of a settlement with the Securities and Exchange Commission addressing allegations of misleading disclosures and reporting violations.
2023-05-24T18:17:00Z By Aaron Nicodemus
Digital video subscription service Gaia will pay a $2 million fine to the Securities and Exchange Commission for allegedly overstating its paid subscribers and retaliating against an internal whistleblower.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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