The Securities and Exchange Commission today charged Houston-based seismic data company, SAExploration Holdings Inc. (SAE), and four former executives for a multi-year accounting fraud that falsely inflated the company’s revenue by approximately $100… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. […]
Month: October 2020
SEC Names Nichola L. Timmons Chief of New Office of Bankruptcy, Collections, Distributions, and Receiverships
The Securities and Exchange Commission today announced that Nichola L. Timmons has been named Chief of the newly-formed Office of Bankruptcy, Collections, Distributions, and Receiverships in the Division of Enforcement. This new office will centralize… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
SEC Proposes Conditional Exemption for Finders Assisting Small Businesses with Capital Raising
The Securities and Exchange Commission today voted to propose a new limited, conditional exemption from broker registration requirements for “finders” who assist issuers with raising capital in private markets from accredited investors. If adopted… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at […]
SEC Updates Regulatory Framework for Fund of Funds Arrangements
The Securities and Exchange Commission today voted to adopt a new rule and related amendments designed to put in place a comprehensive regulatory framework for fund of funds arrangements. The rule also reflects the Commission’s decades of… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
UBS Arbitration Claims Moving Forward
UBS customers who have lost money in the UBS Yield Enhancement Strategy (UBS YES), and who have filed arbitration claims against UBS to recover their losses are having their cases move to hearings before FINRA. UBS YES involved investing in options with a complex series of put and call spreads […]
Undisclosed Paid Promotions Result in SEC Charges
Promoting a security without disclosing that you are being paid to do so is unlawful “touting” and violates the federal securities laws. The SEC has charged a Tennessee business mand for promoting investments in initial coin offerings (ICOs) to his Twitter followers without disclosing that he was paid to do […]
SEC Staff Releases Report on U.S. Credit Market Interconnectedness and the Effects of the COVID-19 Economic Shock
The Securities and Exchange Commission today published a staff report titled U.S. Credit Markets: Interconnectedness and the Effects of the COVID-19 Economic Shock, which focuses on the origination, distribution and secondary market flow of… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. from […]
SEC’s Messages for World Investor Week 2020
As World Investor Week (WIW) 2020 kicks off, the Securities and Exchange Commission today announced that staff will engage with Main Street investors to emphasize the importance of two particularly relevant investing topics−planning for life’s unexpected… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Issues Agenda for Oct. 5 Meeting of the Fixed Income Market Structure Advisory Committee
The Securities and Exchange Commission today released the agenda for the Oct. 5 meeting of the Fixed Income Market Structure Advisory Committee (FIMSAC). The meeting will focus on discussions regarding recent market volatility and the impact of COVID-19… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Charges Hospitality Company for Failing to Disclose Executive Perks
The SEC settled charges against Virginia-based hospitality company Hilton Worldwide Holdings Inc. for failing to fully disclose perquisites and personal benefits provided to executive officers. The action was generated by the Division of Enforcement’s use of risk-based data analytics to uncover potential violations related to corporate perquisites. According to the […]
