SEC charges operators of $1.2B Ponzi Scheme
The Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors in a $1.2 billion Ponzi scheme.
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Court orders $1B judgment against operators of Woodbridge Ponzi scheme
A federal court in Florida has ordered Woodbridge Group of Companies and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors.
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Commissioner Peirce: the meaningless of enforcement numbers and penalty amounts
The SEC’s Enforcement Division issued its annual report this month, highlighting the Division’s activities in fiscal year 2018 from both a qualitative and quantitative perspective. Focusing on enforcement numbers and penalty amounts alone is meaningless, SEC Commissioner Hester Peirce said in recent remarks.
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ArticleNY auto insurers on the hook for $19M for cybersecurity violations
Eight auto insurers failed to meet the requirements of New York’s cybersecurity regulations during widespread online attacks in 2021 and will pay $19 million under consent orders with the New York State Department of Financial Services (NYDFS).