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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Charges Clear Channel Outdoor with FCPA Violations Relating to China Subsidiary
The Securities and Exchange Commission today announced that Clear Channel Outdoor Holdings Inc. agreed to pay more than $26 million to resolve charges that it bribed Chinese government officials to obtain outdoor advertising contracts in violation of the Foreign Corrupt Practices Act (FCPA). The SEC’s order finds that Clear Channel, a U.S. based company in […]
SEC Charges Former Financial Industry Analyst and Three Others with Insider Trading
The Securities and Exchange Commission today announced charges against Anthony Viggiano, a former analyst at a major investment firm and later at an international investment bank, and Christopher Salamone, Stephen A. Forlano, and Nathan Bleckley, for insider trading in advance of numerous merger and acquisition transactions. According to the SEC’s complaint, in connection with his […]
SEC Charges Former Pareteum Executives with Accounting and Disclosure Fraud
The Securities and Exchange Commission today announced charges against the former Chief Financial Officer, Edward O’Donnell, and the former Chief Commercial Officer, Victor Bozzo, of New York-based telecommunications company Pareteum Corp. for engaging in fraudulent revenue recognition practices. The SEC also announced settled charges against Pareteum’s former Controller, Stanley Stefanski, for his role in the […]
SEC chief says new California law could ‘change baseline’ for coming SEC climate rule | Reuters
A pending law in California that would require companies to make climate-related disclosures could affect how federal regulators consider the costs of their own forthcoming climate regulations, Wall Street’s top regulator told lawmakers on Wednesday. U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s testimony during a house oversight hearing highlighted the potential for the […]
SEC Charges Corporate Insiders for Failing to Timely Report Transactions and Holdings
The Securities and Exchange Commission today announced charges against six officers, directors, and major shareholders of public companies for failing to timely report information about their holdings and transactions in company stock. Five publicly-traded companies were also charged for contributing to the filing failures by insiders or failing to report their insiders’ filing delinquencies. The charges […]
SEC Appoints George Botic to the Public Company Accounting Oversight Board
The Securities and Exchange Commission today announced the appointment of George Botic, CPA to a term as a Board Member of the Public Company Accounting Oversight Board (PCAOB). Source: SEC.gov | SEC Appoints George Botic to the Public Company Accounting Oversight Board
SEC Charges Three Southern California Siblings with Insider Trading
The Securities and Exchange Commission today filed charges against siblings Marco A. Perez (aka Marc), Pedro Perez, Jr. (aka Peter), and Olivia P. Durbin for insider trading before the April 2021 announcement of an offer by storage company United Rentals Inc. to acquire General Finance Corp. The three defendants, all of whom reside in Southern […]
As government shutdown looms, companies should go public ‘before Friday,’ SEC chief says | Reuters
A looming government shutdown would reduce U.S. Securities and Exchange Commission (SEC) staffing to “skeletal” levels, stopping it from approving companies’ Wall Street debuts and hindering its ability to respond to any market turmoil, its chair told lawmakers on Wednesday. *** Gensler said the agency would lose more than 90% of its workforce to unpaid […]
US SEC nearing settlement with Wall Street firms over WhatsApp probe -sources | Reuters
The U.S. Securities and Exchange Commission (SEC) is finalizing settlements with around two dozen Wall Street firms to resolve investigations into record-keeping lapses, said two people with knowledge of the matter. *** Under the deals being finalized with the SEC, the firms would pay fines, admit wrongdoing and commit to fixing the lapses, including by […]
S&P 500 Options Quirk Mints Billions, Stirring Manipulation Talk – Bloomberg
The fate of stock options with a face value of trillions of dollars is being influenced by unusual trading activity in the S&P 500 outside regular market hours, new research has found. A monthly pattern sees key prices jump just before the expiration of derivatives tied to the benchmark US gauge, directly affecting which contracts […]