Securities Law

SEC Investor Advisory Committee to Examine Mandatory Arbitration Clauses in Adviser Agreements and Alternative Assets and Retail Investors at December 10 Meeting

December 3, 2024

The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on Dec. 10, 2024, at 10 a.m. ET. The meeting will be webcast on the SEC website. The committee will host two panels: Examining the Use of… Full report at: Read More

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SEC Charges Kiromic BioPharma and Two Former C-Suite Executives with Misleading Investors about Status of FDA Reviews

December 3, 2024

The Securities and Exchange Commission today filed settled charges against Houston-based biotherapeutics company Kiromic BioPharma, Inc., its former CEO, Maurizio Chiriva-Internati, and its former chief financial officer, Tony Tontat, for failing to… Full report at: Read More

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SEC Updates List of Firms Using Inaccurate Information to Solicit Investors

November 27, 2024

The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 14 soliciting entities, two impersonators of genuine firms, and four… Full report at: Read More

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SEC Charges Ken Leech, Former Co-Chief Investment Officer of Western Asset Management Co., with Fraud

November 25, 2024

The Securities and Exchange Commission today announced fraud charges against Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment adviser Western Asset Management Company LLC or WAMCO, for engaging in a… Full report at: Read More

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SEC Announces Enforcement Results for Fiscal Year 2024

November 22, 2024

The Securities and Exchange Commission today announced that it filed 583 total enforcement actions in fiscal year 2024 while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history. The 583 enforcement actions… Full report at: Read More

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SEC Charges Three Broker-Dealers with Filing Deficient Suspicious Activity Reports

November 22, 2024

The Securities and Exchange Commission today announced that broker-dealers Webull Financial LLC, Lightspeed Financial Services Group LLC, and Paulson Investment Company, LLC have agreed to settle charges that they filed with law enforcement suspicious… Full report at: Read More

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UPS to Pay $45 Million Penalty for Improperly Valuing Business Unit

November 22, 2024

The Securities and Exchange Commission today announced settled charges against United Parcel Service Inc. for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) in valuing one of its worst… Full report at: Read More

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SEC Charges Advisory Firm La Mancha and its Owner David Kushner with Fraud

November 21, 2024

The Securities and Exchange Commission today charged David Kushner, a resident of Boca Raton, Florida, and his company La Mancha Funding Corp. with defrauding nearly two dozen investors out of approximately $2.1 million in a series of private securities… Full report at: Read More

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SEC Chair Gensler to Depart Agency on January 20

November 21, 2024

The Securities and Exchange Commission today announced that its 33rd Chair, Gary Gensler, will step down from the Commission effective at 12:00 pm on January 20, 2025. Chair Gensler began his tenure on April 17, 2021, in the immediate aftermath of the… Full report at: Read More

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SEC Charges Three Senior Executives in Two Actions Alleging Massive Bribery Scheme Involving Indian Energy Companies Adani Green and Azure Power

November 20, 2024

The Securities and Exchange Commission today charged Gautam Adani and Sagar Adani, executives of Adani Green Energy Ltd., and Cyril Cabanes, an executive of Azure Power Global Ltd., for conduct arising out of a massive bribery scheme. According to the… Full report at: Read More

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