Securities Law

SEC Charges Citigroup Global Markets Inc. with Recordkeeping Failures concerning Underwriting Expenses

August 29, 2023
SEC Charges Citigroup Global Markets Inc. with Recordkeeping Failures concerning Underwriting Expenses

The Securities and Exchange Commission today announced settled cease-and-desist proceedings against broker-dealer Citigroup Global Markets Inc. (CGMI) for willfully violating recordkeeping requirements concerning expenses that the firm incurred in… Full report at: Read More

Continue reading

SEC Charges Archipelago Trading Services with Failing to File Suspicious Activity Reports

August 29, 2023
SEC Charges Archipelago Trading Services with Failing to File Suspicious Activity Reports

The Securities and Exchange Commission today announced charges against Archipelago Trading Services Inc. (ATSI) for failing to file hundreds of legally required reports of suspicious financial transactions, known as Suspicious Activity Reports (SARs),… Full report at: Read More

Continue reading

SEC Charges LA-Based Media and Entertainment Co. Impact Theory for Unregistered Offering of NFTs

August 28, 2023
SEC Charges LA-Based Media and Entertainment Co. Impact Theory for Unregistered Offering of NFTs

The Securities and Exchange Commission today charged Impact Theory, LLC, a media and entertainment company headquartered in Los Angeles, with conducting an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (… Full report at: Read More

Continue reading

SEC Announces First Fee Rate Advisory for Fiscal Year 2024

August 25, 2023
SEC Announces First Fee Rate Advisory for Fiscal Year 2024

The Securities and Exchange Commission today announced that the fees that public companies and other issuers pay to register their securities with the Commission will increase from $110.20 per million dollars to $147.60 per million dollars, effective Oct… Full report at: Read More

Continue reading

SEC Awards Whistleblower More Than $18 Million

August 25, 2023
SEC Awards Whistleblower More Than $18 Million

The Securities and Exchange Commission today announced an award of more than $18 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. After initially reporting misconduct internally, the whistleblower… Full report at: Read More

Continue reading

SEC Charges 3M with Foreign Corrupt Practices Act Violations Relating to China Subsidiary

August 25, 2023
SEC Charges 3M with Foreign Corrupt Practices Act Violations Relating to China Subsidiary

The Securities and Exchange Commission today announced that 3M Company agreed to pay more than $6.5 million to resolve charges that it violated the books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA). The SEC’s… Full report at: Read More

Continue reading

SEC Charges Former Attorney at U.S.-Based Global Law Firm with Insider Trading

August 23, 2023
SEC Charges Former Attorney at U.S.-Based Global Law Firm with Insider Trading

The Securities and Exchange Commission today announced insider trading charges against Romero Cabral da Costa Neto for trading based on material, nonpublic information concerning a client of the global law firm where he worked as a visiting attorney from… Full report at: Read More

Continue reading

SEC Charges Former New Jersey Corrections Officer with Crypto Fraud Scheme Targeting Law Enforcement Personnel

August 23, 2023
SEC Charges Former New Jersey Corrections Officer with Crypto Fraud Scheme Targeting Law Enforcement Personnel

The Securities and Exchange Commission today charged former New Jersey State Correctional Police Officer John A. DeSalvo with fraudulently raising funds through the unregistered offering of the Blazar Token, a crypto asset security he created but that… Full report at: Read More

Continue reading

SEC Reopens Comment Period for Enhanced Safeguarding Rule for Registered Investment Advisers Proposal

August 23, 2023
SEC Reopens Comment Period for Enhanced Safeguarding Rule for Registered Investment Advisers Proposal

The Securities and Exchange Commission today reopened the comment period on its proposed rule that would redesignate and amend the current custody rule under the Investment Advisers Act of 1940 to enhance protections of customer assets managed by… Full report at: Read More

Continue reading

SEC Adopts Amendments to Exemption From National Securities Association Membership

August 23, 2023
SEC Adopts Amendments to Exemption From National Securities Association Membership

The Securities and Exchange Commission today adopted rule amendments that narrow the exemption from Section 15(b)(8) of the Securities Exchange Act of 1934, which requires any broker or dealer registered with the Commission to become a member of a… Full report at: Read More

Continue reading