All SEC articles – Page 9
-
News BriefLawsuit: Pfizer fired, retaliated against whistleblower who raised FCPA concerns
An ex-Pfizer compliance officer is suing his former employer claiming wrongful termination and whistleblower retaliation after discovering the company allegedly paid $168 million to potentially influential government officials in China.
-
PremiumSEC passes sweeping new rules for private fund advisers
The Securities and Exchange Commission passed a sweeping set of rules for the $26 trillion private fund industry designed to increase transparency and competition but with provisions that address industry concerns about potential overreach.
-
News BriefFintech to pay $1M in first violation of SEC’s amended marketing rule
The Securities and Exchange Commission ordered Titan Global Capital Management USA to pay more than $1 million for allegedly misleading investors with hypothetical performance metrics in its advertising.
-
News BriefSEC commissioners criticize order against transfer agent DST
The Securities and Exchange Commission’s two Republican commissioners dissented from an agency order against transfer agent DST Asset Manager Solutions they deemed to be an example of regulation by enforcement.
-
News BriefAult Alliance fined $700K over disclosure lapses
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.
-
News BriefInotiv discloses FCPA probe into primate importation practices
Inotiv disclosed the Securities and Exchange Commission is investigating potential violations of the Foreign Corrupt Practices Act by the pharmaceutical testing company regarding its importation of nonhuman primates from Asia.
-
News BriefSEC fines Crowe U.K. $750K over deficient Akazoo audit
The U.K. arm of audit firm Crowe agreed to pay $750,000 as part of a settlement with the Securities and Exchange Commission for alleged professional care and skepticism failures regarding its 2018 audit of music streaming subscription company Akazoo.
-
News BriefBittrex, foreign affiliate to pay $24M over unregistered sale of securities
The Securities and Exchange Commission ordered cryptocurrency trading platform Bittrex and its foreign affiliate Bittrex Global to pay $24 million for running an unregistered national securities exchange, broker, and clearing agency.
-
News BriefGrupo Aval to pay $81M in landmark FCPA case
Colombian conglomerate Grupo Aval agreed to pay nearly $81 million as part of settlements addressing alleged bribes paid by its bank subsidiary Corficolombiana to win a highway construction contract.
-
PremiumSEC, CFTC call for self-reporting to reduce off-channel comms backlash
The Securities and Exchange Commission and Commodity Futures Trading Commission have indicated they will be more forgiving to financial services firms that voluntarily self-report recordkeeping violations and take remedial actions before being asked to do so.
-
News BriefCanoo to pay $1.5M over misstatements, disclosure lapses
Electric vehicle manufacturer Canoo agreed to pay $1.5 million as part of a settlement with the Securities and Exchange Commission for alleged material misrepresentations regarding revenue and failing to properly disclose executive compensation.
-
News BriefFund administrator Theorem to pay $122K over missed red flags
The Securities and Exchange Commission ordered Florida-based fund administrator Theorem Fund Services to pay more than $122,000 to settle allegations it missed red flags regarding a $39 million fraud.
-
OpinionSEC’s latest whistleblower award worth note beyond $104M payout
The SEC announced a $104 million award split among seven whistleblowers, but the fact nearly a dozen claimants contacted the agency seeking to provide information related to one action should be notable to companies regarding the stakes of the current whistleblower landscape.
-
News BriefWells Fargo fined $200M in latest SEC, CFTC off-channel comms sweep
The Securities and Exchange Commission and Commodity Futures Trading Commission continued their crackdown on financial firms’ recordkeeping failures regarding employee use of off-channel communications with $555 million in total fines levied against nine institutions and their affiliates.
-
News BriefSEC awards $104M between seven whistleblowers in one action
The Securities and Exchange Commission announced awards totaling more than $104 million to seven whistleblowers whose information and assistance led to a successful enforcement action.
-
PremiumCovington mulling appeal of ruling in SEC breached client case
Covington & Burling is leaving open the possibility of appealing a recent federal court order requiring the law firm to provide the names of hacked clients to the Securities and Exchange Commission.
-
News BriefAlbemarle reserves $219M for FCPA settlements
Chemical company Albemarle Corp. disclosed it is set to pay $218.5 million as part of proposed settlements reached with the Department of Justice and Securities and Exchange Commission regarding apparent violations of the Foreign Corrupt Practices Act.
-
PremiumRisks, opportunities under SEC’s cyber incident disclosure rule
The clock is ticking for public companies to put in place policies and practices to meet the requirements of the Securities and Exchange Commission’s newly approved cybersecurity incident disclosure rule.
-
News BriefSEC risk alert flags staffing, policy weaknesses in AML compliance exams
Broker-dealers complying with anti-money laundering/countering the financing of terrorism requirements put forward by the SEC must be mindful of the resources they are providing for their programs during the current heightened risk environment.
-
News BriefBNP Paribas nearing settlements with SEC, CFTC over off-channel comms
BNP Paribas disclosed it reached proposed settlements with the Securities and Exchange Commission and Commodity Futures Trading Commission regarding alleged use of off-channel communications for business by employees.