SEC’s Press Release

• SEC Charges Dallas-Based Trader With Front Running 05/24/2013
  FOR IMMEDIATE RELEASE2013-93 Washington, D.C., May 24, 2013 — The Securities and Exchange Commission today announced fraud charges and an asset freeze against a trader at a Dallas-based investment advisory firm who improperly profited by placing his own trades before executing large block trades for firm clients that had strong potential to increase the stoc […]
• SEC Charges Institutional Shareholder Services in Breach of Clients' Confidential Proxy Voting Information 05/23/2013
  FOR IMMEDIATE RELEASE2013-92 Washington, D.C., May 23, 2013 — The Securities and Exchange Commission today charged a Rockville, Md.-based proxy adviser for failing to safeguard the confidential proxy voting information of clients participating in a number of significant proxy contests. Additional Materials SEC Order An SEC investigation found that an employe […]
• SEC Charges City of South Miami with Defrauding Investors About Tax-Exempt Status of Municipal Bonds 05/22/2013
  FOR IMMEDIATE RELEASE2013-91 Washington, D.C., May 22, 2013 — The Securities and Exchange Commission today charged the City of South Miami, Fla., with defrauding bond investors about the tax-exempt financing eligibility of a mixed-use retail and parking structure being built in its downtown commercial district. Additional Materials SEC Order An SEC investiga […]
• SEC Charges Chicago-Area Father and Son Conducted Cherry-Picking Scheme at Investment Firm 05/16/2013
  FOR IMMEDIATE RELEASE2013-90 Washington, D.C., May 16, 2013 — The Securities and Exchange Commission today charged a father and son and their Chicago-area investment advisory firm with defrauding clients through a cherry-picking scheme that garnered them nearly $2 million in illicit profits, which they spent on luxury homes, vehicles, and vacations. Addition […]
• SEC Names Keith F. Higgins as Director of Division of Corporation Finance 05/15/2013
  FOR IMMEDIATE RELEASE2013-89 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance. Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public com […]
• SEC Names Lona Nallengara as Chief of Staff 05/15/2013
  FOR IMMEDIATE RELEASE2013-88 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today announced that Lona Nallengara has been named the agency’s chief of staff. Mr. Nallengara came to the SEC in March 2011 and served as deputy director for legal and regulatory policy in the Division of Corporation Finance until he was appointed in Decemb […]
• SEC Charges China-Based Executives in Scheme to Overstate Revenues and Divert Money for Personal Use 05/15/2013
  FOR IMMEDIATE RELEASE2013-87 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today charged husband-and-wife executives at a China-based company with engaging in a scheme to overstate the company’s revenues and divert proceeds from a securities offering for their personal use. Additional Materials SEC Complaint The SEC alleges that RIN […]
• SEC, FINRA Issue Investor Alert On Pension or Settlement Income Streams 05/09/2013
  FOR IMMEDIATE RELEASE2013-86 Washington, D.C., May 9, 2013 — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them. The investor alert informs investors about the risks involved when selli […]
• Bruce Karpati, Chief of Enforcement Division Asset Management Unit, to Leave SEC After 12 Years 05/09/2013
  FOR IMMEDIATE RELEASE2013-85 Washington, D.C., May 9, 2013 — The Securities and Exchange Commission today announced that Bruce Karpati, chief of the Enforcement Division’s Asset Management Unit, will be leaving the agency for the private sector after more than a dozen years of federal service. Mr. Karpati has served at the helm of the Asset Management Unit s […]
• SEC Announces Panelists for Credit Ratings Roundtable 05/07/2013
  FOR IMMEDIATE RELEASE2013-83 Washington, D.C., May 7, 2013 — The Securities and Exchange Commission today announced the panelists for its Credit Ratings Roundtable, which will be held on May 14. As previously announced, the roundtable will consist of three panels. The first panel will discuss the potential creation of a credit rating assignment system for as […]