‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Charges TMC Bonds With Failing to Protect Confidential Subscriber Information
The SEC’s order finds that, between at least January 2016 and June 2018, TMC Bonds publicly touted its anonymous trading platform, but, in fact, disclosed the identities of certain firms seeking to trade corporate bonds to potential counterparties over 2,500 times during a two-and-a-half year period. According to the order, these disclosures occurred because TMC […]
SEC Charges Comscore Inc. and Former CEO with Accounting and Disclosure Fraud
The SEC’s orders find, among other things, that from February 2014 through February 2016, Comscore, at the direction of its former CEO Serge Matta, entered into non-monetary transactions for the purpose of improperly increasing its reported revenue. Through these transactions, Comscore and a counterparty would negotiate and agree to exchange sets of data without any cash […]
Senators Introduce Bipartisan Legislation Strengthening Corporate Whistleblower Protections and Improving the SEC and CFTC Whistleblower Programs – Zuckerman Law
Senators Baldwin, Durbin, Ernst, and Grassley introduced S. 2529, the Whistleblower Programs Improvement Act (WPIA), which would protect corporate whistleblowers who report potential securities or commodities fraud to their employers and expedite the processing of applications for whistleblower awards at the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). This bill is […]
A former banker accused of leaking deal tips to his dad was convicted of insider trading — again – Pulse Ghana
The second time isn’t a charm for Sean Stewart. The former managing director of Perella Weinberg Partners was convicted of insider trading for leaking information to his father, on Monday. The trial was the second time Stewart’s case has been heard in court, and the second time he’s been found guilty. The jurors deliberated for […]
Fighting SEC Over Cryptocurrency, Kik Shuts Chat App – WSJ
Canadian social-media company Kik Interactive Inc., which is fighting U.S. claims that it illegally raised capital, said it would shut its messaging app and lay off most of its staff. In June, the Securities and Exchange Commission sued Kik, saying its $100 million fundraising in 2017 evaded U.S. investor-protection laws. Kik had sold its cryptocurrency, […]