All securities articles

  • Cryptocurrency wallet

    Lummis-Gillibrand bill would regulate crypto for first time


    The Responsible Financial Innovation Act, introduced by Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), seeks to regulate digital assets, blockchain technology, and cryptocurrencies in the United States for the first time.

  • XRP

    CCO allegedly ignored in Ripple cryptocurrency lawsuit


    The chief compliance officer at Ripple Labs allegedly warned company leaders on multiple occasions that its marketing of its cryptocurrency offering, XRP, could lead the SEC to classify it as a security—the focal point of a lawsuit filed Tuesday.

  • Blog

    Did OSI Systems commit FCPA and securities trading violations?


    OSI Systems said the SEC and Department of Justice have commenced investigations into potential violations of the Foreign Corrupt Practices Act, and also are investigating trading in the company’s securities.

  • Blog

    Medical device CEO convicted of $750 million securities fraud


    A federal jury has convicted the former chief executive officer of a publicly traded medical device compan for his role in orchestrating a fraud scheme that led to $750 million in shareholder losses.

  • Blog

    Citigroup to Pay $15M for Compliance Failures


    Citigroup Global Markets today reached a $15 million settlement with the Securities and Exchange Commission to settle charges that it failed to enforce policies and procedures to prevent and detect securities transactions that could involve the misuse of material, nonpublic information. The SEC also said the firm failed to adopt ...

  • Blog

    Prosecutors Search Deutsche Bank Head Offices in Tax Fraud Probe


    Deutsche Bank took another blow this week after law enforcement officials searched the bank’s headquarters amid suspicions of tax fraud relating to client securities transactions. The practice, known as “dividend stripping,” has once again placed the largest German lender under the regulatory spotlight. Details inside.

  • Article

    Q&A: How E*Trade Recovered From the Financial Crisis


    Image: As part of our occasional series of conversations with compliance and risk executives, we caught up with Michael Pizzi, chief risk officer at E*Trade Financial. Prior to the financial crisis, E*Trade had made sizable investments in mortgage-related assets—toxic assets whose value ultimately plummeted, resulting in substantial writedowns for the ...

  • Blog

    S&P to Pay $77 Million for Ratings Misconduct


    Standards & Poor’s Ratings Services has agreed to pay $58 million to the SEC, $12 million to the New York Attorney General’s Office, and $7 million to the Massachusetts Attorney General’s Office to settle a series of federal securities law violations involving fraudulent misconduct in its ratings of certain commercial ...

  • Blog

    UBS Dark Pool Operation Leads to SEC Charges


    The Securities and Exchange Commission this week charged a UBS subsidiary with disclosure failures and other securities law violations related to the operation and marketing of its dark pool. UBS Securities agreed to pay more than $14.4 million, including a $12 million penalty—the SEC’s largest against an alternative trading system. ...

  • Blog

    U.S. Sentencing Commission Rethinks Securities Fraud Punishments


    The U.S. Sentencing Commission is considering changes to how securities-related crimes are punished, potentially imposing less jail time upon defendants in securities fraud cases. A proposal unveiled on Friday detailed a plan to rely on gains obtained by a defendant, rather than the traditional assessment of the losses suffered by ...

  • Article

    T&E Controls That Won’t Get You Busted


    Image: Title: TillenThe SEC set the compliance community buzzing in December with two FCPA enforcement actions that hinge on improper travel and entertainment spending—an offense historically seldom seen in FCPA enforcement. Usually, “T&E abuses are add-on charges to an enforcement action involving a larger pool of improper activity,” says James ...