The Securities and Exchange Commission today announced settled charges against 23 entities and individuals for failures to timely report information about their holdings and transactions in public company stock. Two public companies were also charged for… SEC Press Release
Month: September 2024
SEC Charges Crypto Companies TrustToken and TrueCoin With Defrauding Investors Regarding Stablecoin Investment Program
The Securities and Exchange Commission today announced settled charges against TrueCoin LLC and TrustToken Inc. for their fraudulent and unregistered sales of investment contracts involving TrueUSD (TUSD), a purported stablecoin. According to the SEC’s… SEC Press Release
SEC Charges Former CEO of Tech Startup SKAEL with $30 Million Fraud
The Securities and Exchange Commission today announced fraud charges against Baba Nadimpalli, the co-founder and former CEO of SKAEL Inc., a San Francisco-based private technology company that developed business automation software. According to the SEC… SEC Press Release
Advisory Firm Atom Investors, Charged with Recordkeeping Violations, Avoids Civil Penalty Because of Self-Reporting, Substantial Cooperation, and Prompt Remediation
The Securities and Exchange Commission today announced charges against Texas-based registered investment adviser Atom Investors LP for its failure to maintain and preserve off-channel communications in violation of the recordkeeping provisions of the… SEC Press Release
SEC Charges 12 Municipal Advisors With Recordkeeping Violations
The Securities and Exchange Commission today announced charges against 12 municipal advisors for failures by the firms and their personnel to maintain and preserve certain electronic communications. The firms agreed to pay combined civil penalties of… SEC Press Release
Audit Firm Prager Metis Settles SEC Charges for Negligence in FTX Audits and for Violating Auditor Independence Requirements
The Securities and Exchange Commission today announced that Prager Metis CPAs, LLC (Prager) and its California professional services firm, Prager Metis CPAs LLP, (collectively, the Prager Entities) agreed to pay $1.95 million to resolve two actions… SEC Press Release
SEC Charges Broker-Dealer First Horizon With Regulation Best Interest Violations
The Securities and Exchange Commission today announced charges against registered broker-dealer First Horizon Advisors, Inc. for failing to maintain and enforce policies and procedures reasonably designed to achieve compliance with Regulation Best… SEC Press Release
SEC Charges Advisory Firm Inspire Investing With Misleading Investors Regarding Its Investment Strategy
The Securities and Exchange Commission today charged Idaho-based investment adviser Inspire Investing LLC with making misleading statements and for compliance failures related to the execution of its “biblically responsible investing” strategy.… SEC Press Release
SEC to Hold Virtual National Compliance Outreach Seminar for Investment Companies and Investment Advisers
The Securities and Exchange Commission’s Compliance Outreach Program announced today that it will host a virtual national seminar for investment companies and investment advisers on Nov. 7, 2024. This seminar is intended to help Chief Compliance Officers… SEC Press Release
SEC Charges Advisory Firm Macquarie Investment Management Business Trust with Fraud
The Securities and Exchange Commission today announced registered investment adviser Macquarie Investment Management Business Trust (MIMBT) will pay a total of $79.8 million to settle charges for overvaluing approximately 4,900 largely illiquid… SEC Press Release
