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Regulatory Enforcement

Regulatory Enforcement

News Article

SEC’s Twitter war with Elon Musk escalates with contempt claims

Joe Mont | March 19, 2019

The SEC made its final pitch to a federal court that Tesla founder and CEO Elon Musk should be held in contempt of a previous order and settlement over what it says is unrepentant tweeting.

The Filing Cabinet Blog

Bipartisan effort would double SEC statute of limitations for fraud

Joe Mont | March 15, 2019

Senators Mark Warner (D-Va.) and John Kennedy (R-La.) have introduced the Securities Fraud Enforcement and Investor Compensation Act—the bipartisan legislation that would extend the window of time the SEC can pursue post-fraud claims for investors from five years to 10.

Enforcement Action Blog

SEC charges Volkswagen in emissions-cheating scandal

Jaclyn Jaeger | March 15, 2019

The SEC has charged Volkswagen, two of its subsidiaries, and its former CEO, Martin Winterkorn, with defrauding U.S. investors by making deceptive claims about the environmental impact of the company’s “clean diesel” fleet.

Enforcement Action Blog

Lumber Liquidators to pay $33M for securities fraud

Jaclyn Jaeger | March 14, 2019

Lumber Liquidators Holdings, a discount retailer of hardwood flooring, will pay a total of $33 million in criminal and regulatory penalties for misleading investors concerning the sale of its laminate flooring from China to its customers in the United States.

Enforcement Action Blog

Covidien to pay $17.5M for False Claims Act violations

Jaclyn Jaeger | March 12, 2019

Covidien has agreed to pay $17.5 million for violations of the False Claims Act by providing free or discounted practice development and market development support to physicians in California and Florida to induce purchases of Covidien products, the Department of Justice announced.  

Enforcement Action Blog

BB&T Securities to pay $5.7M for misleading clients

Jaclyn Jaeger | March 11, 2019

BB&T Securities has reached a $5.7 million settlement with the Securities and Exchange Commission to settle charges that a firm it acquired misled its advisory clients.

Enforcement Action Blog

FINRA fines Cantor Fitzgerald $2M for Reg SHO violations, supervisory failures

Jaclyn Jaeger | March 7, 2019

The Financial Industry Regulatory Authority fined Cantor Fitzgerald $2 million for Regulation SHO violations and supervisory failures spanning a period of at least five years.

Grapevine Blog

SEC names its first chief risk officer

Jaclyn Jaeger | March 1, 2019

The Securities and Exchange Commission has named its first ever chief risk officer. The position, to be held Gabriel Benincasa, was created by SEC Chairman Jay Clayton to strengthen the agency’s risk management and cyber-security efforts.

News Article

Top exchanges sue SEC over transaction fee plan

Joe Mont | February 28, 2019

An initiative to determine whether longstanding stock exchange practices create conflicts of interest has those trading venues fighting against what they view as arbitrary pricing controls that could have negative effects on liquidity and competition.

The Filing Cabinet Blog

SEC says Musk disregarded terms of Tesla settlement

Joe Mont | February 26, 2019

The SEC is asking a federal judge to decide whether Elon Musk, founder and CEO of  Tesla, violated the terms of a recent consent agreement and should be held in contempt of court.