http://www.sec.gov/news/press.shtml The latest press releases from the Securities and Exchange Commission en-us Thu, 2 Sep 2010 00:00:01 EDT Thu, 2 Sep 2010 11:03:38 EDT http://www.sec.gov/news/press/2010/2010-163.htm The Securities and Exchange Commission today charged a Branchburg, N.J.-based investment adviser and three of her firms with operating a multi-million dollar offering fraud involving the sale of phony promissory notes to investors, many of whom are retired or unsophisticated in investments. 2010-163 Thu, 2 Sep 2010 11:03:38 EDT http://www.sec.gov/news/press/2010/2010-162.htm The Securities and Exchange Commission today adopted a temporary rule requiring municipal advisors to register with the SEC by October 1, a deadline established by the newly-enacted Dodd-Frank Wall Street Reform and Consumer Protection Act. 2010-162 Thu, 2 Sep 2010 09:19:29 EDT http://www.sec.gov/news/press/2010/2010-161.htm The Securities and Exchange Commission today charged Pinnacle Capital Markets LLC with failing to comply with an anti-money laundering (AML) rule that requires broker-dealers to identify and verify the identities of its customers and document its procedures for doing so. The SEC also charged Pinnacle's managing director Michael A. Paciorek with causing Pinnacle's violations. 2010-161 Wed, 1 Sep 2010 11:33:06 EDT http://www.sec.gov/news/press/2010/2010-160.htm The Securities and Exchange Commission today charged two former senior accounting professionals at a Milwaukee-based headphone manufacturer with accounting fraud, books-and-records violations, and related misconduct arising from the embezzlement of more than $30 million from the company. 2010-160 Tue, 31 Aug 2010 17:04:32 EDT http://www.sec.gov/news/press/2010/2010-159.htm The Securities and Exchange Commission today issued a report cautioning credit rating agencies about deceptive ratings conduct and the importance of sufficient internal controls over the policies, procedures, and methodologies the firms use to determine credit ratings. 2010-159 Tue, 31 Aug 2010 15:12:55 EDT http://www.sec.gov/news/press/2010/2010-158.htm he Securities and Exchange Commission announced today that Brian V. Breheny, the Deputy Director for Legal and Regulatory Policy in the Division of Corporation Finance, will depart the agency after more than seven years of public service. 2010-158 Mon, 30 Aug 2010 16:55:33 EDT http://www.sec.gov/news/press/2010/2010-157.htm The Securities and Exchange Commission today announced that Christopher R. Conte, an Associate Director in the Division of Enforcement, will leave the SEC next month after nearly 18 years of public service at the agency. 2010-157 Mon, 30 Aug 2010 14:33:33 EDT http://www.sec.gov/news/press/2010/2010-156.htm The Securities and Exchange Commission today announced that John Ramsay has been named a Deputy Director in the Division of Trading and Markets. 2010-156 Mon, 30 Aug 2010 12:07:30 EDT http://www.sec.gov/news/press/2010/2010-155.htm The Securities and Exchange Commission today adopted changes to the federal proxy and other rules to facilitate the rights of shareholders to nominate directors to a company's board. 2010-155 Wed, 25 Aug 2010 14:07:27 EDT http://www.sec.gov/news/press/2010/2010-154.htm The following is a statement from SEC Chairman Mary L. Schapiro regarding today's announcement by the Board of Trustees of the Financial Accounting Foundation (FAF) that the Financial Accounting Standards Board (FASB) will expand to seven members. In addition, FASB Chairman Robert Herz has decided to retire from the FASB, and current FASB member Leslie Seidman has been appointed Acting Chairman effective October 1. 2010-154 Tue, 24 Aug 2010 17:33:09 EDT http://www.sec.gov/news/press/2010/2010-153.htm The Securities and Exchange Commission has charged two residents of Madrid, Spain with insider trading and obtained an emergency court order to freeze their assets after they made nearly $1.1 million in illegal profits by trading in advance of last week's public announcement of a multi-billion dollar cash tender offer by BHP Billiton Plc to acquire Potash Corp. of Saskatchewan Inc. 2010-153 Tue, 24 Aug 2010 17:33:09 EDT http://www.sec.gov/news/press/2010/2010-152.htm The Securities and Exchange Commission today charged the State of New Jersey with securities fraud for misrepresenting and failing to disclose to investors in billions of dollars worth of municipal bond offerings that it was underfunding the state's two largest pension plans. 2010-152 Wed, 18 Aug 2010 12:30:13 EDT http://www.sec.gov/news/press/2010/2010-151.htm The Securities and Exchange Commission announced today that Andrew J. "Buddy" Donohue plans to leave the SEC in November after serving more than four years as its Director of the Division of Investment Management. 2010-151 Tue, 17 Aug 2010 14:48:51 EDT http://www.sec.gov/news/press/2010/2010-150.htm The Securities and Exchange Commission announced today that Deputy Chief Economist Stewart Mayhew is leaving the agency after eight years of public service. 2010-150 Fri, 13 Aug 2010 16:27:07 EDT http://www.sec.gov/news/press/2010/2010-149.htm The Securities and Exchange Commission and the Commodity Futures Trading Commission today published a joint advance notice of proposed rulemaking that requests public comment to assist the agencies in further defining certain key terms and prescribing regulations regarding "mixed swaps" as required by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 2010-149 Fri, 13 Aug 2010 16:02:35 EDT http://www.sec.gov/news/press/2010/2010-148.htm The Securities and Exchange Commission and Commodity Futures Trading Commission staffs will hold a public roundtable on August 20 to discuss issues related to governance and conflicts of interest in the clearing and listing of swaps and security-based swaps. 2010-148 Fri, 13 Aug 2010 14:16:02 EDT http://www.sec.gov/news/press/2010/2010-147.htm The Securities and Exchange Commission, Financial Industry Regulatory Authority (FINRA) and North American Securities Administrators Association (NASAA) today updated a joint report that outlines practices being used by financial services firms to strengthen their policies and procedures for serving senior investors as they approach and begin retirement. 2010-147 Fri, 13 Aug 2010 12:01:00 EDT http://www.sec.gov/news/press/2010/2010-146.htm The Securities and Exchange Commission today charged a Seattle-area skin care retailer and its former chief financial officer with fraudulently boosting earnings by reporting sales of anti-aging products promoted through Home Shopping Network infomercials while the products still sat unsold in the company's warehouse. The agency also began administrative proceedings against the company's outside auditors for professional misconduct. 2010-146 Mon, 9 Aug 2010 15:46:00 EDT http://www.sec.gov/news/press/2010/2010-145.htm The Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) today announced the agenda and participant list for the third meeting of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues on August 11. 2010-145 Fri, 6 Aug 2010 16:07:36 EDT http://www.sec.gov/news/press/2010/2010-144.htm The Securities and Exchange Commission today charged two global tobacco companies with violations of the Foreign Corrupt Practices Act (FCPA) for paying more than $5 million in bribes to government officials in Thailand and other countries to illicitly obtain tobacco sales contracts. 2010-144 Fri, 6 Aug 2010 12:27:23 EDT http://www.sec.gov/news/press/2010/2010-143.htm The Securities and Exchange Commission's Office of the Chief Accountant today announced the selection of Shawn Davis and Saurav Dutta as Academic Accounting Fellows for one-year terms beginning this summer. 2010-143 Thu, 5 Aug 2010 15:31:30 EDT http://www.sec.gov/news/press/2010/2010-142.htm The Securities and Exchange Commission announced today that Shira Pavis Minton has been named as the Commission's Ethics Counsel in the Office of the General Counsel. 2010-142 Thu, 5 Aug 2010 12:57:31 EDT http://www.sec.gov/news/press/2010/2010-141.htm The Securities and Exchange Commission today charged a former business director at Innospec, Inc., and the company's third-party agent in Iraq with violating the Foreign Corrupt Practices Act (FCPA) by engaging in widespread bribery of Iraqi government officials to land contracts under the United Nations Oil-for-Food Program and continue selling a fuel additive to Iraq after the program ended. Bribes also were paid to Indonesian officials to enable Innospec to sell the fuel additive to Indonesian state-owned oil companies. 2010-141 Thu, 5 Aug 2010 11:54:18 EDT http://www.sec.gov/news/press/2010/2010-140.htm The Securities and Exchange Commission today charged a former Deloitte and Touche LLP partner and his son with insider trading in the securities of several of the firm's audit clients. 2010-140 Wed, 4 Aug 2010 12:21:54 EDT http://www.sec.gov/news/press/2010/2010-139.htm The Securities and Exchange Commission today announced that Matthew T. Martens has been appointed Chief Litigation Counsel of the Division of Enforcement, where he will oversee the litigation program as conducted by attorneys in the Washington headquarters trial unit and coordinate the activities of trial attorneys across the enforcement program in the 11 regional offices. 2010-139 Mon, 2 Aug 2010 14:11:58 EDT http://www.sec.gov/news/press/2010/2010-138.htm Teachers from schools across the country just completed an inaugural Securities and Exchange Commission training course that will help them teach their students about the importance of the financial markets. 2010-138 Fri, 30 Jul 2010 11:19:43 EDT http://www.sec.gov/news/press/2010/2010-137.htm The Securities and Exchange Commission today charged brothers Samuel E. Wyly and Charles J. Wyly, Jr. of Dallas with violating federal securities laws governing ownership and trading of securities by corporate insiders. The Wyly brothers reaped more than $550 million in undisclosed gains while sitting on corporate boards by trading stock in those public companies through hidden entities located in foreign jurisdictions to conceal their ownership and trading of those securities. 2010-137 Thu, 29 Jul 2010 17:53:43 EDT http://www.sec.gov/news/press/2010/2010-136.htm The Securities and Exchange Commission today charged Citigroup Inc. with misleading investors about the company's exposure to subprime mortgage-related assets. The SEC also charged one current and one former executive for their roles in causing Citigroup to make the misleading statements in an SEC filing. 2010-136 Thu, 29 Jul 2010 13:56:39 EDT http://www.sec.gov/news/press/2010/2010-135.htm Securities and Exchange Commission Chairman Mary L. Schapiro today announced that the agency is making it easier for the public to provide comments as the agency sets out to make rules required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. 2010-135 Tue, 27 Jul 2010 17:10:19 EDT http://www.sec.gov/news/press/2010/2010-134.htm The Securities and Exchange Commission today published a request for public comment to inform its study of the obligations and standards of care of broker-dealers and investment advisers providing personalized investment advice about securities to retail investors. 2010-134 Tue, 27 Jul 2010 13:04:56 EDT http://www.sec.gov/news/press/2010/2010-133.htm The Securities and Exchange Commission today charged General Electric Company with violations of the Foreign Corrupt Practices Act (FCPA) for its involvement in a $3.6 million kickback scheme with Iraqi government agencies to win contracts to supply medical equipment and water purification equipment. 2010-133 Tue, 27 Jul 2010 10:39:47 EDT http://www.sec.gov/news/press/2010/2010-132.htm The Securities and Exchange Commission today announced a Fair Fund distribution of more than $106 million to investors harmed in a financial fraud at HealthSouth Corporation. 2010-132 Mon, 26 Jul 2010 15:34:27 EDT http://www.sec.gov/news/press/2010/2010-131.htm The Securities and Exchange Commission today charged Dell Inc. with failing to disclose material information to investors and using fraudulent accounting to make it falsely appear that the company was consistently meeting Wall Street earnings targets and reducing its operating expenses. 2010-131 Thu, 22 Jul 2010 16:10:11 EDT http://www.sec.gov/news/press/2010/2010-130.htm The Securities and Exchange Commission today charged two certified public accountants with fraud and is seeking an emergency court order to freeze their assets after they sold phony securities to investors and then stole the money for personal use. 2010-130 Thu, 22 Jul 2010 13:12:09 EDT http://www.sec.gov/news/press/2010/2010-129.htm The Securities and Exchange Commission today released a staff report recommending that life settlements be clearly defined as securities so that the investors in these transactions are protected under the federal securities laws. 2010-129 Thu, 22 Jul 2010 11:18:26 EDT http://www.sec.gov/news/press/2010/2010-128.htm The Securities and Exchange Commission today announced that David W. Blass has been named an Associate General Counsel for Legal Policy in the agency's Office of the General Counsel. 2010-128 Wed, 21 Jul 2010 15:52:05 EDT http://www.sec.gov/news/press/2010/2010-127.htm The Securities and Exchange Commission today voted unanimously to adopt changes to the principal disclosure document that SEC-registered investment advisers must provide to their clients and prospective clients. 2010-127 Wed, 21 Jul 2010 15:00:08 EDT http://www.sec.gov/news/press/2010/2010-126.htm The Securities and Exchange Commission today voted unanimously to propose measures aimed to improve the regulation of mutual fund distribution fees and provide better disclosure for investors. 2010-126 Wed, 21 Jul 2010 13:52:22 EDT http://www.sec.gov/news/press/2010/2010-125.htm The Securities and Exchange Commission today announced that Paula Dubberly has been named to a new Deputy Director position in the Division of Corporation Finance. 2010-125 Fri, 16 Jul 2010 13:30:21 EDT http://www.sec.gov/news/press/2010/2010-124.htm The Securities and Exchange Commission's division that reviews public company filings is creating three specialized offices to enhance its disclosure review and policy operations. 2010-124 Fri, 16 Jul 2010 13:30:21 EDT http://www.sec.gov/news/press/2010/2010-123.htm The Securities and Exchange Commission today announced that Goldman, Sachs & Co. will pay $550 million and reform its business practices to settle SEC charges that Goldman misled investors in a subprime mortgage product just as the U.S. housing market was starting to collapse. 2010-123 Thu, 15 Jul 2010 16:32:09 EDT http://www.sec.gov/news/press/2010/2010-122.htm The Securities and Exchange Commission today voted unanimously to issue a concept release seeking public comment on the U.S. proxy system and asking whether rule revisions should be considered to promote greater efficiency and transparency. 2010-122 Wed, 14 Jul 2010 15:06:35 EDT http://www.sec.gov/news/press/2010/2010-121.htm The Securities and Exchange Commission announced today that Joan McKown, the longtime Chief Counsel of the Division of Enforcement, will depart the agency to become a partner in the Washington office of the law firm Jones Day. 2010-121 Wed, 14 Jul 2010 13:31:27 EDT http://www.sec.gov/news/press/2010/2010-120.htm The Securities and Exchange Commission today announced that Charles Boucher has decided to leave the agency after serving as its Chief Information Officer (CIO) since 2008. 2010-120 Mon, 12 Jul 2010 14:05:00 EDT http://www.sec.gov/news/press/2010/2010-119.htm The Securities and Exchange Commission today charged Italian company ENI, S.p.A. and its former Dutch subsidiary Snamprogetti Netherlands B.V. with multiple violations of the Foreign Corrupt Practices Act (FCPA) in a bribery scheme that included deliveries of cash-filled briefcases and vehicles to Nigerian government officials to win construction contracts. 2010-119 Wed, 7 Jul 2010 12:04:10 EDT http://www.sec.gov/news/press/2010/2010-118.htm Securities and Exchange Commission Chairman Mary Schapiro and Japan Financial Services Agency (JFSA) Commissioner Katsunori Mikuniya met in Washington, D.C., this week as part of the annual SEC-JFSA Bilateral High-level Dialogue. The purpose of the Dialogue, established in 2006, is to provide a forum whereby the senior officials of the two agencies can meet to identify and discuss issues of common concern affecting the U.S. and Japanese capital markets and promote areas of future collaboration. 2010-118 Fri, 2 Jul 2010 15:32:59 EDT http://www.sec.gov/news/press/2010/2010-117.htm The Securities and Exchange Commission today is publishing for public comment proposals by the national securities exchanges and FINRA to expand a recently adopted circuit breaker program to include all stocks in the Russell 1000 Index and certain exchange-traded funds. 2010-117 Wed, 30 Jun 2010 16:29:47 EDT http://www.sec.gov/news/press/2010/2010-116.htm The Securities and Exchange Commission today voted unanimously to approve new rules to significantly curtail the corrupting influence of "pay to play" practices by investment advisers. 2010-116 Wed, 30 Jun 2010 15:23:11 EDT http://www.sec.gov/news/press/2010/2010-115.htm The Securities and Exchange Commission today filed a settled federal court action against San Jose, Calif.-based telecommunications company Veraz Networks, Inc., alleging that Veraz violated the books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA). The alleged violations stemmed from improper payments made by Veraz to foreign officials in China and Vietnam after the company went public in 2007. 2010-115 Tue, 29 Jun 2010 13:00:27 EDT http://www.sec.gov/news/press/2010/2010-114.htm The Securities and Exchange Commission announced today that it has obtained an emergency asset freeze against a Canadian couple who fraudulently touted penny stocks through their website, Facebook and Twitter. The SEC also charged two companies the couple control and obtained an asset freeze against them. 2010-114 Tue, 29 Jun 2010 12:34:33 EDT http://www.sec.gov/news/press/2010/2010-113.htm The following is a statement from SEC Chairman Mary L. Schapiro regarding legislation to be considered this week by the Congress: "On Friday, Congress took a giant step toward achieving important comprehensive financial regulatory reform. The bill that emerged from the conference to be considered this week will improve oversight of large interconnected institutions, fill significant regulatory gaps, provide greater oversight and transparency over hedge funds and over-the-counter derivatives, improve the SEC's funding process and provide additional investor protections." 2010-113 Mon, 28 Jun 2010 17:15:19 EDT http://www.sec.gov/news/press/2010/2010-112.htm The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze against a purported fund manager based in the U.S. Virgin Islands who perpetrated a $105 million Ponzi scheme against investors. 2010-112 Mon, 28 Jun 2010 13:50:07 EDT http://www.sec.gov/news/press/2010/2010-111.htm Today the Supreme Court issued its decision in Free Enterprise Fund and Beckstead and Watts, LLP v. Public Company Accounting Oversight Board and United States of America. 2010-111 Mon, 28 Jun 2010 13:16:32 EDT http://www.sec.gov/news/press/2010/2010-110.htm The Securities and Exchange Commission today announced a settlement with Technip for multiple violations of the Foreign Corrupt Practices Act (FCPA). 2010-110 Mon, 28 Jun 2010 11:35:07 EDT http://www.sec.gov/news/press/2010/2010-109.htm The Securities and Exchange Commission announced the distribution today of approximately $13.9 million to nearly 57,000 investors in connection with Raytheon Corporation financial fraud settlements. 2010-109 Fri, 25 Jun 2010 15:00:15 EDT http://www.sec.gov/news/press/2010/2010-108.htm The Securities and Exchange Commission today announced that it obtained an asset freeze and other emergency relief against a Jacksonville, Fla., retirement benefits consulting firm that defrauded active and retired government employees and law enforcement agents nationwide through a Ponzi scheme that promised safe investments. 2010-108 Fri, 25 Jun 2010 11:32:22 EDT http://www.sec.gov/news/press/2010/2010-107.htm The Securities and Exchange Commission today charged an investment adviser in Palm Beach Gardens, Fla., and two of its managing members with fraud for running a Ponzi scheme and stealing client funds. 2010-107 Tue, 22 Jun 2010 13:57:35 EDT http://www.sec.gov/news/press/2010/2010-106.htm The Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues today announced the agenda for its public meeting to be held on June 22, 2010. 2010-106 Mon, 21 Jun 2010 15:00:09 EDT http://www.sec.gov/news/press/2010/2010-105.htm The Securities and Exchange Commission today charged a New York-based investment adviser and three of his affiliated firms with fraudulently managing investment products tied to the mortgage markets as they came under pressure in 2007. 2010-105 Mon, 21 Jun 2010 09:31:57 EDT http://www.sec.gov/news/press/2010/2010-104.htm The Securities and Exchange Commission today announced that the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) are filing proposed rules to clarify the process for breaking erroneous trades. The rules would make it clearer when, and at what prices, trades would be broken. 2010-104 Thu, 17 Jun 2010 14:37:55 EDT http://www.sec.gov/news/press/2010/2010-103.htm The Securities and Exchange Commission today voted unanimously to propose rule amendments to help clarify the meaning of a date in a target date fund's name and enhance the information provided to investors in these funds as they invest for retirement. 2010-103 Wed, 16 Jun 2010 15:00:26 EDT http://www.sec.gov/news/press/2010/2010-102.htm The U.S. Securities and Exchange Commission (SEC), Quebec Autorité des marchés financiers (AMF) and Ontario Securities Commission (OSC) today announced a comprehensive arrangement to facilitate their supervision of regulated entities that operate across the U.S.-Canadian border. 2010-102 Wed, 16 Jun 2010 11:16:13 EDT http://www.sec.gov/news/press/2010/2010-101.htm The U.S. Securities and Exchange Commission (SEC), Quebec Autorité des marchés financiers (AMF) and Ontario Securities Commission (OSC) today announced a comprehensive arrangement to facilitate their supervision of regulated entities that operate across the U.S.-Canadian border. 2010-101 Mon, 14 Jun 2010 11:00:10 EDT http://www.sec.gov/news/press/2010/2010-100.htm The Securities and Exchange Commission today charged a New York-based money manager and his firm with fraud for touting investments he claimed were tied to the Chimay royal family of Belgium, and then stealing millions of dollars to pay his divorce lawyers and the mortgage on his house in the Hamptons. 2010-100 Fri, 11 Jun 2010 16:35:22 EDT http://www.sec.gov/news/press/2010/2010-99.htm The Securities and Exchange Commission today charged four Canadian men and two others living in Florida with perpetrating a $300 million international Ponzi scheme on investors in a purportedly successful gold mining operation. 2010-99 Thu, 10 Jun 2010 15:48:18 EDT http://www.sec.gov/news/press/2010/2010-98.htm The Securities and Exchange Commission today approved rules that will require the exchanges and FINRA to pause trading in certain individual stocks if the price moves 10 percent or more in a five-minute period. The rules, which were proposed by the national securities exchanges and FINRA, come in response to the market disruption of May 6. 2010-98 Thu, 10 Jun 2010 11:57:19 EDT http://www.sec.gov/news/press/2010/2010-97.htm Securities and Exchange Commission spokesman John Nester today issued the following statement: "Two weeks ago, in response to the market disruption of May 6, the SEC sought public comment on proposed rules that would require the national securities exchanges and FINRA to pause trading in certain individual stocks if the price moves 10 percent or more in a five-minute period. The rules were proposed by the national securities exchanges and FINRA. ... " 2010-97 Fri, 4 Jun 2010 16:33:45 EDT http://www.sec.gov/news/press/2010/2010-96.htm In February, the Securities and Exchange Commission laid out its position regarding global accounting standards, making it clear that the Commission continues to believe that a single set of high-quality globally accepted accounting standards would benefit U.S investors. 2010-96 Wed, 2 Jun 2010 17:50:54 EDT http://www.sec.gov/news/press/2010/2010-95.htm The Securities and Exchange Commission today charged a Miami man for conducting a $40 million Ponzi scheme with funds primarily raised from investors in the local Hispanic community to purportedly support jewelry businesses and pawn shops. 2010-95 Wed, 2 Jun 2010 16:07:11 EDT http://www.sec.gov/news/press/2010/2010-94.htm The Securities and Exchange Commission today charged a former executive at a San Diego-based biotechnology company for making false statements to investors about her company's prenatal test for Down syndrome. 2010-94 Wed, 2 Jun 2010 15:41:14 EDT http://www.sec.gov/news/press/2010/2010-93.htm The Securities and Exchange Commission today charged Diebold, Inc. and three former financial executives for engaging in a fraudulent accounting scheme to inflate the company's earnings. The SEC separately filed an enforcement action against Diebold's former CEO seeking reimbursement of certain financial benefits that he received while Diebold was committing accounting fraud. 2010-93 Wed, 2 Jun 2010 12:57:17 EDT http://www.sec.gov/news/press/2010/2010-92.htm The Securities and Exchange Commission today announced the agenda and panelists for its June 2 public roundtable to examine securities market structure issues. 2010-92 Fri, 28 May 2010 17:46:10 EDT http://www.sec.gov/news/press/2010/2010-91.htm The Securities and Exchange Commission today announced that Jeff Heslop has been named the agency's first-ever Chief Operating Officer (COO) for information technology, financial reporting, and records management. 2010-91 Thu, 27 May 2010 14:13:40 EDT http://www.sec.gov/news/press/2010/2010-90.htm The Securities and Exchange Commission today announced the appointment of Brian Croteau as Deputy Chief Accountant for the Professional Practice Group in the agency's Office of the Chief Accountant (OCA). Mr. Crouteau previously served in OCA as a Senior Associate Chief Accountant. 2010-90 Thu, 27 May 2010 14:03:59 EDT http://www.sec.gov/news/press/2010/2010-89.htm The Securities and Exchange Commission today charged Manhattan-based financial advisor Kenneth Ira Starr with fraud and is seeking an emergency court order to freeze his assets after he stole client money for his personal use, including the purchase last month of a multi-million dollar apartment where he and his wife now reside. 2010-89 Thu, 27 May 2010 13:12:43 EDT http://www.sec.gov/news/press/2010/2010-88.htm The Securities and Exchange Commission today charged Connecticut-based hedge fund manager Pequot Capital Management, Inc., and its Chairman and CEO Arthur Samberg with insider trading in Microsoft Corporation securities. The SEC separately brought an enforcement action against a former Microsoft employee who later worked at Pequot for allegedly tipping the firm and Samberg with nonpublic information about Microsoft's earnings. 2010-88 Thu, 27 May 2010 11:15:41 EDT http://www.sec.gov/news/press/2010/2010-87.htm The Securities and Exchange Commission today charged a purported money manager, his New York City-based investment company, and two of his associates with conducting an affinity fraud and Ponzi scheme that specifically targeted investors living in the Caribbean and African-American communities of Brooklyn. 2010-87 Wed, 26 May 2010 15:27:58 EDT http://www.sec.gov/news/press/2010/2010-86.htm The Securities and Exchange Commission today proposed a new rule that would require the self-regulatory organizations (SROs) to establish a consolidated audit trail system that would enable regulators to track information related to trading orders received and executed across the securities markets. 2010-86 Wed, 26 May 2010 15:03:26 EDT http://www.sec.gov/news/press/2010/2010-85.htm The Securities and Exchange Commission today voted unanimously to approve rule changes improving the quality and timeliness of municipal securities disclosure. 2010-85 Wed, 26 May 2010 15:03:26 EDT http://www.sec.gov/news/press/2010/2010-84.htm The Securities and Exchange Commission today charged a Walt Disney Company employee and her boyfriend in a scheme to sell confidential information about Disney's quarterly earnings to hedge funds. 2010-84 Wed, 26 May 2010 11:49:51 EDT http://www.sec.gov/news/press/2010/2010-83.htm The Securities and Exchange Commission today announced the completion of a distribution of more than $178 million to investors affected by improper market timing by Millennium Partners and its related entities. 2010-83 Fri, 21 May 2010 16:00:27 EDT http://www.sec.gov/news/press/2010/2010-82.htm Securities and Exchange Commission Chairman Mary L. Schapiro today announced that Kenneth A. Johnson has been named Chief Financial Officer for the agency. 2010-82 Fri, 21 May 2010 12:28:05 EDT http://www.sec.gov/news/press/2010/2010-81.htm The staffs of the Securities and Exchange Commission and the Commodity Futures Trading Commission today released the preliminary findings in their review of the unusual market events on May 6. 2010-81 Tue, 18 May 2010 19:25:07 EDT http://www.sec.gov/news/press/2010/2010-80.htm The Securities and Exchange Commission announced that in response to the market disruption of May 6, the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) are filing proposed rules today under which they would pause trading in certain individual stocks if the price moves 10 percent or more in a five-minute period. 2010-80 Tue, 18 May 2010 17:25:07 EDT http://www.sec.gov/news/press/2010/2010-79.htm The Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) today announced that the first meeting of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues will be held on Monday, May 24. 2010-79 Mon, 17 May 2010 17:30:39 EDT http://www.sec.gov/news/press/2010/2010-78.htm The Securities and Exchange Commission today announced that Gerald Hodgkins has been appointed as an Associate Director of the Division of Enforcement, a senior position in which he will assist in planning and directing the agency's enforcement efforts. 2010-78 Thu, 13 May 2010 14:49:24 EDT http://www.sec.gov/news/press/2010/2010-77.htm The Securities and Exchange Commission's Investor Advisory Committee today announced the agenda for its public meeting to be held on May 17, 2010. 2010-77 Thu, 13 May 2010 14:38:36 EDT http://www.sec.gov/news/press/2010/2010-76.htm The Securities and Exchange Commission today charged two Boca Raton, Fla., residents for engaging in illegal short selling of securities in advance of participating in numerous secondary offerings to make illicit profits. 2010-76 Tue, 11 May 2010 15:40:06 EDT http://www.sec.gov/news/press/2010/2010-75.htm Securities and Exchange Commission Chairman Mary Schapiro and Commodity Futures Trading Commission Chairman Gary Gensler today announced the formation of a joint committee that will address emerging regulatory issues. The establishment of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues was one of the 20 recommendations included in the agencies' harmonization report issued last year. 2010-75 Tue, 11 May 2010 09:00:17 EDT http://www.sec.gov/news/press/2010/2010-74.htm The Securities and Exchange Commission today released the following statement: "This morning, SEC Chairman Mary Schapiro had a constructive meeting with the leaders of six exchanges — the New York Stock Exchange, NASDAQ, BATS, Direct Edge, ISE and CBOE — and the Financial Industry Regulatory Authority to discuss the causes of Thursday's market events, the potential contributing factors, and possible market reforms." 2010-74 Mon, 10 May 2010 13:53:30 EDT http://www.sec.gov/news/press/2010/2010-73.htm The Securities and Exchange Commission and the Commodity Futures Trading Commission today released the following statement. 2010-73 Fri, 7 May 2010 16:51:59 EDT http://www.sec.gov/news/press/2010/2010-72.htm The Securities and Exchange Commission and the Commodity Futures Trading Commission today released the following statement: "The SEC and CFTC are working closely with the other financial regulators, as well as the exchanges, to review the unusual trading activity that took place briefly this afternoon. We are also working with the exchanges to take appropriate steps to protect investors pursuant to market rules. We will make public the findings of our review along with recommendations for appropriate action." 2010-72 Thu, 6 May 2010 19:39:32 EDT http://www.sec.gov/news/press/2010/2010-71.htm Securities and Exchange Commission staff will conduct a public seminar next month to help mutual funds comply with new rules that require them to file data in the risk/return summary section of the prospectus using eXtensible Business Reporting Language (XBRL), which can provide investors with quicker access to the data they want in a format that is easily used, searched, and analyzed. 2010-71 Wed, 5 May 2010 14:48:31 EDT http://www.sec.gov/news/press/2010/2010-70.htm The Securities and Exchange Commission today charged New York City-based Spongetech Delivery Systems Inc., an affiliate, and five people involved in a massive pump-and-dump scheme that deceived investors into believing they were buying stock in a highly successful company. 2010-70 Wed, 5 May 2010 11:30:27 EDT http://www.sec.gov/news/press/2010/2010-69.htm The Securities and Exchange Commission announced today that Richard A. Levine has been named an Associate General Counsel for Legal Policy in the agency's Office of the General Counsel. 2010-69 Mon, 3 May 2010 17:05:32 EDT http://www.sec.gov/news/press/2010/2010-68.htm The Securities and Exchange Commission announced today that it recently completed its 20th Annual International Institute for Securities Market Development. 2010-68 Mon, 3 May 2010 15:32:30 EDT http://www.sec.gov/news/press/2010/2010-67.htm The Securities and Exchange Commission today announced the start of an approximately $113.5 million Fair Fund distribution resulting from the settlement of a previous SEC enforcement action against Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, PLC. 2010-67 Fri, 30 Apr 2010 11:33:01 EDT http://www.sec.gov/news/press/2010/2010-66.htm The Securities and Exchange Commission today announced that in fiscal year 2011 the fees that public companies and other issuers pay to register their securities with the Commission will be set at $116.10 per million dollars. In addition, the fees applicable to most securities transactions will be fixed at $19.20 per million dollars. 2010-66 Fri, 30 Apr 2010 11:20:05 EDT http://www.sec.gov/news/press/2010/2010-65.htm The Securities and Exchange Commission today announced administrative proceedings against five securities professionals accused of facilitating unlawful sales of penny stocks to investors and failing to act as "gatekeepers" as required under the federal securities laws. 2010-65 Tue, 27 Apr 2010 15:11:44 EDT http://www.sec.gov/news/press/2010/2010-64.htm The Securities and Exchange Commission today charged a private equity firm, a money manager and his friend with participating in a fraudulent scheme through which they stole more than $3 million invested by three Detroit-area public pension funds. 2010-64 Thu, 22 Apr 2010 11:58:26 EDT http://www.sec.gov/news/press/2010/2010-63.htm The Securities and Exchange Commission today charged a prominent Miami Beach-based businessman and philanthropist with fraud for orchestrating a $900 million offering fraud and Ponzi scheme. 2010-63 Wed, 21 Apr 2010 11:00:29 EDT http://www.sec.gov/news/press/2010/2010-62.htm The Securities and Exchange Commission today filed an emergency enforcement action to halt a fraudulent scheme being orchestrated by two co-owners of an Albany, N.Y.-based firm who misused investor money to fund their struggling business operations and meet ever-increasing liquidity needs. The SEC has obtained a court order to freeze their assets. 2010-62 Tue, 20 Apr 2010 14:55:57 EDT http://www.sec.gov/news/press/2010/2010-61.htm The Securities and Exchange Commission today charged a Staten Island, N.Y.-based investment advisory firm and five money managers with operating an Internet-based scam that misleads investors into paying fees for phony stock tips and investment advice from fictional trading experts. The SEC obtained an emergency court order to freeze the assets of the firm and individuals involved. 2010-61 Tue, 20 Apr 2010 13:13:12 EDT http://www.sec.gov/news/press/2010/2010-60.htm The following is a statement from SEC Chairman Mary L. Schapiro regarding SEC Office of the Inspector General (OIG) Report 526 — "Investigation of the SEC's Response to Concerns Regarding Robert Allen Stanford's Alleged Ponzi Scheme": "This report recounts events that occurred at the Commission between 1997 and 2005. Since that time, much has changed and continues to change regarding the agency's leadership, its internal procedures and its culture of collaboration. The report makes seven recommendations, most of which have been implemented since 2005. We will carefully analyze the report and implement any additional reforms as necessary for effective investor protection." 2010-60 Fri, 16 Apr 2010 13:55:59 EDT http://www.sec.gov/news/press/2010/2010-59.htm The Securities and Exchange Commission today charged Goldman, Sachs & Co. and one of its vice presidents for defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter. 2010-59 Fri, 16 Apr 2010 10:33:44 EDT http://www.sec.gov/news/press/2010/2010-58.htm The Securities and Exchange Commission today charged a private investment firm and one of its affiliated entities for participating in a widespread kickback scheme to obtain investments from New York's largest pension fund. 2010-58 Thu, 15 Apr 2010 10:45:02 EDT http://www.sec.gov/news/press/2010/2010-57.htm Eight federal regulators today released an Online Form Builder that financial institutions can download and use to develop and print customized versions of a model consumer privacy notice. 2010-57 Thu, 15 Apr 2010 10:00:09 EDT http://www.sec.gov/news/press/2010/2010-56.htm The Securities and Exchange Commission today proposed to put in place two investor protection measures in options markets that currently exist in stock markets. 2010-56 Wed, 14 Apr 2010 15:56:06 EDT http://www.sec.gov/news/press/2010/2010-55.htm The Securities and Exchange Commission today voted to propose the creation of a large trader reporting system that would enhance its ability to identify large market participants, collect information on their trades, and analyze their trading activity. 2010-55 Wed, 14 Apr 2010 15:56:06 EDT http://www.sec.gov/news/press/2010/2010-54.htm The Securities and Exchange Commission today proposed rules that would revise the disclosure, reporting and offering process for asset-backed securities (ABS) to better protect investors in the securitization market. 2010-54 Wed, 7 Apr 2010 17:04:42 EDT http://www.sec.gov/news/press/2010/2010-53.htm The Securities and Exchange Commission today announced administrative proceedings against Memphis, Tenn.-based firms Morgan Keegan & Company and Morgan Asset Management and two employees accused of fraudulently overstating the value of securities backed by subprime mortgages. 2010-53 Wed, 7 Apr 2010 11:04:43 EDT http://www.sec.gov/news/press/2010/2010-52.htm The Securities and Exchange Commission today announced that Robert J. Keyes has been named Associate Regional Director and Chief of Regional Office Operations in the agency's New York Regional Office. 2010-52 Mon, 5 Apr 2010 16:37:39 EDT http://www.sec.gov/news/press/2010/2010-51.htm The Securities and Exchange Commission today announced a settlement with Daimler AG for violations of the Foreign Corrupt Practices Act, alleging that the Stuttgart, Germany-based automobile manufacturer engaged in a repeated and systematic practice of paying bribes to foreign government officials to secure business in Asia, Africa, Eastern Europe and the Middle East. 2010-51 Thu, 1 Apr 2010 15:35:41 EDT http://www.sec.gov/news/press/2010/2010-50.htm The Securities and Exchange Commission today announced that Kathleen M. Griffin has been named the agency's first Chief Compliance Officer — the latest in a series of measures undertaken to strengthen the SEC's internal compliance program. 2010-50 Thu, 1 Apr 2010 13:43:07 EDT http://www.sec.gov/news/press/2010/2010-49.htm The Securities and Exchange Commission today charged an Ohio-based investment adviser with fraud for lying about his investment strategy, fabricating account statements to hide losses, and using investor money to buy property and pay unrelated business expenses. 2010-49 Mon, 29 Mar 2010 12:03:32 EDT http://www.sec.gov/news/press/2010/2010-48.htm The Securities and Exchange Commission today announced a distribution of nearly $185 million to more than 800 mutual funds that were affected by illegal market timing by broker-dealer Prudential Equity Group (then known as Prudential Securities, Inc.), which was the subject of a previous SEC enforcement action. 2010-48 Fri, 26 Mar 2010 12:31:44 EDT http://www.sec.gov/news/press/2010/2010-47.htm The Securities and Exchange Commission's Office of the Chief Accountant has selected eight professional accounting fellows for two-year terms beginning in 2010. 2010-47 Thu, 25 Mar 2010 15:30:02 EDT http://www.sec.gov/news/press/2010/2010-46.htm The Securities and Exchange Commission announced today that Howard A. Scheck has been named Chief Accountant for the SEC's Division of Enforcement. 2010-46 Thu, 25 Mar 2010 13:05:43 EDT http://www.sec.gov/news/press/2010/2010-45.htm The SEC staff is conducting a review to evaluate the use of derivatives by mutual funds, exchange-traded funds (ETFs) and other investment companies. The review will examine whether and what additional protections are necessary for those funds under the Investment Company Act of 1940. 2010-45 Thu, 25 Mar 2010 12:52:54 EDT http://www.sec.gov/news/press/2010/2010-44.htm The Securities and Exchange Commission today charged a Wall Street investment banker, another securities professional, and one of their friends in a clandestine insider trading ring that netted approximately $1 million in illicit profits by trading ahead of at least 11 mergers, acquisitions, and other corporate deals. 2010-44 Wed, 24 Mar 2010 17:47:39 EDT http://www.sec.gov/news/press/2010/2010-43.htm The Securities and Exchange Commission has filed fraud charges against a prominent New Mexico realtor and obtained an emergency court order to halt his $80 million Ponzi scheme. 2010-43 Wed, 24 Mar 2010 11:13:05 EDT http://www.sec.gov/news/press/2010/2010-42.htm The Securities and Exchange Commission today issued a report warning firms that municipal securities rules prohibiting pay-to-play apply to affiliated financial professionals, not just a firm's employees. 2010-42 Thu, 18 Mar 2010 16:21:08 EDT http://www.sec.gov/news/press/2010/2010-41.htm The Securities and Exchange Commission today charged a South Carolina-based attorney and a cohort with securities fraud for bilking investors in a high-yield investment scheme that promised rates of return as high as 4,900 percent in just two months. 2010-41 Thu, 18 Mar 2010 15:46:50 EDT http://www.sec.gov/news/press/2010/2010-40.htm The Securities and Exchange Commission today charged Innospec, Inc. with violating the Foreign Corrupt Practices Act (FCPA) by engaging in widespread bribery of foreign government officials in Iraq and Indonesia to obtain and retain business. 2010-40 Thu, 18 Mar 2010 13:34:33 EDT http://www.sec.gov/news/press/2010/2010-39.htm The Securities and Exchange Commission today charged three former senior executives and a former director of an Omaha-based database compilation company for their roles in a scheme in which the CEO funneled illegal compensation to himself in the form of perks worth millions of dollars. 2010-39 Mon, 15 Mar 2010 16:29:25 EDT http://www.sec.gov/news/press/2010/2010-38.htm The Securities and Exchange Commission is alerting investors about a Web site that falsely claims to have recovered $1.3 billion in funds hidden by convicted Ponzi schemer Bernard Madoff in Malaysia. The site asks Madoff victims to submit information to verify that they are on a refund list — a ploy commonly used by con artists to further rip off financial fraud victims. 2010-38 Wed, 10 Mar 2010 15:38:23 EST http://www.sec.gov/news/press/2010/2010-37.htm The Securities and Exchange Commission has obtained an emergency court order to shut down a Ponzi scheme targeting retirees in California and Illinois by inviting them to estate planning seminars and later coaxing them to buy promissory notes for purported Turkish investments. 2010-37 Wed, 10 Mar 2010 13:12:56 EST http://www.sec.gov/news/press/2010/2010-36.htm The Securities and Exchange Commission announced today that Chief Economist James A. Overdahl will leave the Commission to rejoin the private sector after serving since July 2007 as principal economic advisor to the Commission on policy, rulemaking, and litigation support. 2010-36 Tue, 9 Mar 2010 15:30:08 EST http://www.sec.gov/news/press/2010/2010-35.htm The Securities and Exchange Commission today charged a San Diego-based broker-dealer with failing to reasonably supervise one of its registered representatives who engaged in unauthorized fraudulent trading in the accounts of two Florida municipalities. 2010-35 Fri, 5 Mar 2010 11:12:55 EST http://www.sec.gov/news/press/2010/2010-34.htm The Securities and Exchange Commission today charged a self-proclaimed psychic who fraudulently raised $6 million after telling investors he could predict stock market highs and lows. 2010-34 Thu, 4 Mar 2010 15:57:40 EST http://www.sec.gov/news/press/2010/2010-33.htm The Securities and Exchange Commission today announced that it has filed fraud charges against a Los Angeles-based investment advisory firm and its principal and obtained an emergency court order to halt a $14.7 million Ponzi scheme targeting retired Los Angeles bus drivers. 2010-33 Thu, 4 Mar 2010 11:39:27 EST http://www.sec.gov/news/press/2010/2010-32.htm The Securities and Exchange Commission today charged an Iowa insurance company and two executives with proxy disclosure violations, alleging that they inadequately disclosed details about the acquisition of another company and the resulting financial boon to the then-CEO. 2010-32 Wed, 3 Mar 2010 16:44:16 EST http://www.sec.gov/news/press/2010/2010-31.htm The Securities and Exchange Commission today charged a prominent Miami-based business leader and his wife with fraud for conducting a $135 million Ponzi scheme with real estate investments from hundreds of elderly Cuban-American investors living in South Florida. 2010-31 Wed, 3 Mar 2010 10:03:36 EST http://www.sec.gov/news/press/2010/2010-30.htm The Securities and Exchange Commission and the Internal Revenue Service today announced that the two agencies agreed to work more closely to monitor and regulate the municipal bond market and industry. 2010-30 Tue, 2 Mar 2010 14:00:30 EST http://www.sec.gov/news/press/2010/2010-29.htm Pursuant to Section 31 of the Securities Exchange Act of 1934, the Commission has determined that a mid-year adjustment to the Section 31 transaction fee rate is necessary. Effective on April 1, 2010, the Section 31 transaction fee rate will be set at $16.90 per million. 2010-29 Mon, 1 Mar 2010 17:15:19 EST http://www.sec.gov/news/press/2010/2010-28.htm The Securities and Exchange Commission today charged one of convicted Ponzi schemer Bernard Madoff's key operatives with falsifying accounting records to enable the multi-billion dollar fraud and illegally enrich himself, Madoff, and Madoff's family and employees. 2010-28 Thu, 25 Feb 2010 09:26:50 EST http://www.sec.gov/news/press/2010/2010-27.htm The Securities and Exchange Commission today voted to issue a statement that lays out its position regarding global accounting standards and makes clear that the Commission continues to believe that a single set of high-quality globally accepted accounting standards would benefit U.S investors. 2010-27 Wed, 24 Feb 2010 16:06:33 EST http://www.sec.gov/news/press/2010/2010-26.htm The Securities and Exchange Commission today adopted a new rule to place certain restrictions on short selling when a stock is experiencing significant downward price pressure. The measure is intended to promote market stability and preserve investor confidence. 2010-26 Wed, 24 Feb 2010 15:40:34 EST http://www.sec.gov/news/press/2010/2010-25.htm Securities and Exchange Commission staff will conduct a public seminar next month to help companies and preparers comply with rules that require financial reports to be filed using eXtensible Business Reporting Language, (XBRL), which can provide investors quicker access to the data they want in a format that's easily used, searched and analyzed. 2010-25 Tue, 23 Feb 2010 14:17:13 EST http://www.sec.gov/news/press/2010/2010-24.htm The Securities and Exchange Commission today charged two Sacramento-area men with misappropriating approximately $10 million from more than 100 investors who were falsely promised that their money would be loaned to homebuyers and secured by real estate deeds of trust. 2010-24 Tue, 23 Feb 2010 12:37:17 EST http://www.sec.gov/news/press/2010/2010-23.htm The Securities and Exchange Commission today announced a series of steps to educate investors about proxy voting and support greater investor participation in corporate elections. 2010-23 Mon, 22 Feb 2010 16:28:07 EST http://www.sec.gov/news/press/2010/2010-22.htm The Securities and Exchange Commission today announced the distribution of approximately $67 million to more than 16,000 investors in connection with McAfee, Inc. financial fraud settlements. 2010-22 Mon, 22 Feb 2010 12:01:48 EST http://www.sec.gov/news/press/2010/2010-21.htm The Securities and Exchange Commission today charged Boston-based State Street Bank and Trust Company with misleading its investors about their exposure to subprime investments while selectively disclosing more complete information to specific investors. 2010-21 Thu, 4 Feb 2010 11:43:20 EST http://www.sec.gov/news/press/2010/2010-20.htm The Securities and Exchange Commission today announced that William P. Hicks has been named Associate Regional Director for Enforcement in the SEC's Atlanta Regional Office. 2010-20 Wed, 3 Feb 2010 15:19:44 EST http://www.sec.gov/news/press/2010/2010-19.htm The Securities and Exchange Commission today announced that Rhea Kemble Dignam has been named Director of the SEC's Atlanta Regional Office. 2010-19 Wed, 3 Feb 2010 15:19:44 EST http://www.sec.gov/news/press/2010/2010-18.htm The following is a statement from SEC Chairman Mary L. Schapiro regarding the President's FY 2011 budget request of $1.258 billion for the SEC, which represents a 12 percent increase over its FY 2010 budget: "If enacted, the President's request will do a great deal to help us keep pace with the continuing growth of the markets and provide necessary resources to support important regulatory initiatives in 2011." 2010-18 Mon, 1 Feb 2010 15:41:09 EST http://www.sec.gov/news/press/2010/2010-17.htm Securities and Exchange Commission Chairman Mary Schapiro and UK Financial Services Authority (FSA) Chairman Adair Turner and Chief Executive Hector Sants met in London today as part of the SEC-FSA Strategic Dialogue. The purpose of the Dialogue, established in 2006, is to engage at the senior levels of the two agencies on current matters affecting the U.S. and UK capital markets and areas of future collaboration. This was the fifth meeting of the Dialogue. 2010-17 Mon, 1 Feb 2010 14:01:04 EST http://www.sec.gov/news/press/2010/2010-16.htm The Reserve Primary Fund today completed distribution of $3.4 billion in assets to investors who held shares of the fund when its net asset value fell below $1 per share in September 2008. This distribution, which follows earlier distributions, represents the bulk of the fund's remaining assets. 2010-16 Fri, 29 Jan 2010 15:50:47 EST http://www.sec.gov/news/press/2010/2010-15.htm The Securities and Exchange Commission today voted to provide public companies with interpretive guidance on existing SEC disclosure requirements as they apply to business or legal developments relating to the issue of climate change. 2010-15 Wed, 27 Jan 2010 16:38:15 EST http://www.sec.gov/news/press/2010/2010-14.htm The Securities and Exchange Commission today adopted new rules designed to significantly strengthen the regulatory requirements governing money market funds and better protect investors. 2010-14 Wed, 27 Jan 2010 15:42:30 EST http://www.sec.gov/news/press/2010/2010-13.htm The Securities and Exchange Commission today separately charged two California investment advisory firms for engaging in improper short selling of securities in advance of their participation in a company's secondary offering. These mark the first cases filed under the SEC's amended Rule 105 of Regulation M, which is designed to prohibit manipulative short selling ahead of follow-on securities offerings. 2010-13 Tue, 26 Jan 2010 15:34:18 EST http://www.sec.gov/news/press/2010/2010-12.htm A federal judge today ordered Minneapolis-area resident Trevor G. Cook jailed for failing to surrender more than $35 million in assets as a result of the Securities and Exchange Commission's fraud charges and asset freeze against him. 2010-12 Mon, 25 Jan 2010 14:28:08 EST http://www.sec.gov/news/press/2010/2010-11.htm The Securities and Exchange Commission announced today that Daniel M. Gallagher, Jr., a Deputy Director of the Division of Trading and Markets, will leave the agency at the end of this month to return to private practice as a partner in the Washington, D.C., office of WilmerHale. 2010-11 Mon, 25 Jan 2010 12:00:07 EST http://www.sec.gov/news/press/2010/2010-10.htm The Securities and Exchange Commission today charged General Re Corporation for its involvement in separate schemes by American International Group (AIG) and Prudential Financial, Inc. to manipulate and falsify their reported financial results. 2010-10 Wed, 20 Jan 2010 12:37:58 EST http://www.sec.gov/news/press/2010/2010-9.htm The Securities and Exchange Commission today announced that Fredric D. Firestone, an Associate Director of the Division of Enforcement, will leave the SEC next month to become a partner at McDermott, Will & Emery, resident in the firm's Washington, D.C., office. 2010-9 Wed, 20 Jan 2010 11:32:31 EST http://www.sec.gov/news/press/2010/2010-8.htm The Securities and Exchange Commission today moved forward with a broad review of the equity market structure, voting unanimously to issue a concept release seeking public comment on such issues as high frequency trading, co-locating trading terminals, and markets that do not publicly display price quotations. 2010-8 Wed, 13 Jan 2010 15:15:47 EST http://www.sec.gov/news/press/2010/2010-7.htm The Securities and Exchange Commission today voted unanimously to propose a new rule that would effectively prohibit broker-dealers from providing customers with "unfiltered" or "naked" access to an exchange or alternative trading system (ATS). 2010-7 Wed, 13 Jan 2010 15:15:47 EST http://www.sec.gov/news/press/2010/2010-6.htm The Securities and Exchange Commission today announced a series of measures to further strengthen its enforcement program and encourage greater cooperation by individuals and companies in the agency's investigations and enforcement actions. 2010-6 Wed, 13 Jan 2010 13:00:09 EST http://www.sec.gov/news/press/2010/2010-5.htm The Enforcement Division of the Securities and Exchange Commission today announced the appointment of the newest members of its national leadership team as the Division undertakes its most significant reorganization since its establishment in 1972. 2010-5 Wed, 13 Jan 2010 13:00:09 EST http://www.sec.gov/news/press/2010/2010-4.htm The Securities and Exchange Commission today charged two Sarasota, Fla.-based investment advisers with securities fraud for misleading investors about the financial condition of three hedge funds they managed, and misrepresenting that they controlled the funds' investment and trading activities when in fact they were being handled by Arthur G. Nadel. 2010-4 Mon, 11 Jan 2010 15:39:38 EST http://www.sec.gov/news/press/2010/2010-3.htm The Securities and Exchange Commission today announced that it has charged Beverly Hills, Calif.-based NewPoint Financial Services, Inc. and its co-owners and controller for conducting an unregistered offering fraud aimed at Iranian-Americans in the Los Angeles area. 2010-3 Mon, 11 Jan 2010 13:01:50 EST http://www.sec.gov/news/press/2010/2010-2.htm The Securities and Exchange Commission today announced that a former Perot family companies employee it charged with insider trading in September has agreed to return all of his illicit profits — a total of more than $8.6 million. 2010-2 Tue, 5 Jan 2010 15:58:32 EST http://www.sec.gov/news/press/2010/2010-1.htm Securities and Exchange Commission Chairman Mary L. Schapiro today announced that Carlo V. di Florio has been named Director of the agency’s Office of Compliance Inspections and Examinations (OCIE). 2010-1 Mon, 4 Jan 2010 16:27:55 EST http://www.sec.gov/news/press/2009/2009-277.htm The Securities and Exchange Commission today charged Alameda, Calif.-based telecommunications company UTStarcom, Inc. with violations of the Foreign Corrupt Practices Act (FCPA) for authorizing millions of dollars in unlawful payments to foreign government officials in Asia. 2009-277 Thu, 31 Dec 2009 13:36:05 EST http://www.sec.gov/news/press/2009/2009-276.htm The Securities and Exchange Commission today charged a Houston-based broker with engaging in unauthorized and unsuitable trading on behalf of two Florida municipalities, putting them at risk of losing millions of dollars while he reaped commissions of more than $14 million for himself. 2009-276 Tue, 29 Dec 2009 13:23:03 EST http://www.sec.gov/news/press/2009/2009-275.htm The Securities and Exchange Commission has obtained a court order freezing the assets of two Frenchmen who it has charged with insider trading ahead of a Paris-based manufacturer's acquisition of another health care products company located in Chattanooga, Tenn. 2009-275 Wed, 23 Dec 2009 12:12:09 EST http://www.sec.gov/news/press/2009/2009-274.htm The Securities and Exchange Commission today filed securities fraud charges against an Austin, Texas investment adviser and two businesses he controls for operating a multi-million dollar scam that used former professional football players as bait to lure victims. 2009-274 Tue, 22 Dec 2009 17:13:00 EST http://www.sec.gov/news/press/2009/2009-273.htm The Securities and Exchange Commission today announced that it has proposed amendments to Rule 163 under the Securities Act to further facilitate the ability of certain large companies to communicate with broader groups of potential investors and gauge the level of interest in the market for their securities offerings. 2009-273 Tue, 22 Dec 2009 14:06:52 EST http://www.sec.gov/news/press/2009/2009-272.htm The Securities and Exchange Commission today charged a U.S. subsidiary of the world's largest inter-dealer broker, U.K.-based ICAP plc, with fraud for engaging in deceptive broking activity and making material misrepresentations to customers concerning its trading activities. 2009-272 Fri, 18 Dec 2009 11:55:53 EST http://www.sec.gov/news/press/2009/2009-271.htm The Securities and Exchange Commission today charged Ernst & Young LLP and six of its current and former partners, including three who are members of the firm's national office, for their roles relating to an accounting fraud at Bally Total Fitness Holding Corporation. The SEC finds that E&Y knew or should have known about Bally's fraudulent financial accounting and disclosures. 2009-271 Thu, 17 Dec 2009 16:33:38 EST http://www.sec.gov/news/press/2009/2009-270.htm Yesterday President Obama signed H.R. 3288, the appropriations bill that includes funding for the Securities and Exchange Commission. Accordingly, effective Dec. 21, 2009, the Section 6(b) fee rate applicable to the registration of securities, the Section 13(e) fee rate applicable to the repurchase of securities, and the Section 14(g) fee rate applicable to proxy solicitations and statements in corporate control transactions will increase to $71.30 per million dollars. The Section 6(b) rate is also the rate used to calculate the fees payable with the Annual Notice of Securities Sold Pursuant to Rule 24f-2 under the Investment Company Act of 1940. 2009-270 Thu, 17 Dec 2009 12:38:54 EST http://www.sec.gov/news/press/2009/2009-269.htm The Securities and Exchange Commission today adopted rules designed to substantially increase the protections for investors who turn their money and securities over to an investment adviser registered with the SEC. The new rules provide safeguards where there is a heightened potential for fraud or theft of client assets. 2009-269 Wed, 16 Dec 2009 17:24:35 EST http://www.sec.gov/news/press/2009/2009-268.htm The Securities and Exchange Commission today approved rules to enhance the information provided to shareholders so they are better able to evaluate the leadership of public companies. 2009-268 Wed, 16 Dec 2009 16:24:42 EST http://www.sec.gov/news/press/2009/2009-267.htm The Securities and Exchange Commission announced today that Eric Bustillo has been named Regional Director of the SEC's Miami Regional Office. Mr. Bustillo joins the SEC from the U.S. Attorney's Office in the Southern District of Florida where he is an Assistant U.S. Attorney and has been Chief of the Economic & Environmental Crimes Section since 2005. He formerly served in the SEC's Miami Regional Office from 1990 to 1995 as an enforcement staff lawyer and as a branch chief. He anticipates assuming his new position in mid-January 2010. 2009-267 Wed, 16 Dec 2009 15:31:25 EST http://www.sec.gov/news/press/2009/2009-266.htm The Securities and Exchange Commission today charged two former employees at major global financial institutions and two of their friends in a serial insider trading scheme to profit on highly confidential merger and acquisition information. 2009-266 Wed, 16 Dec 2009 14:14:14 EST http://www.sec.gov/news/press/2009/2009-265.htm The Securities and Exchange Commission today announced that it is re-opening the public comment period for its shareholder director nomination proposal to seek views on additional data and related analyses received by the Commission at or after the close of the original public comment period on August 17. 2009-265 Mon, 14 Dec 2009 16:17:01 EST http://www.sec.gov/news/press/2009/2009-264.htm The Securities and Exchange Commission today announced the Fair Fund distribution of approximately $418 million to more than one million investors who were affected by undisclosed market timing in certain Invesco mutual funds advised by Invesco Funds Group, Inc. (IFG). 2009-264 Mon, 14 Dec 2009 13:49:45 EST http://www.sec.gov/news/press/2009/2009-263.htm Securities and Exchange Commission Chairman Mary Schapiro today made the following statement on the financial regulatory reform legislation passed by the U.S. House of Representatives today: "I applaud the House for taking this historic step to bolster investor protections and fill gaps in our financial regulatory framework. I look forward to continuing to work with Congress on this very significant legislation." 2009-263 Fri, 11 Dec 2009 17:32:47 EST http://www.sec.gov/news/press/2009/2009-262.htm The Securities and Exchange Commission today charged an additional attorney who worked at international law firm Ropes & Gray LLP in the agency's ongoing investigation into a $20 million insider trading ring involving Wall Street traders, lawyers, and hedge fund managers. 2009-262 Thu, 10 Dec 2009 13:39:20 EST http://www.sec.gov/news/press/2009/2009-261.htm The Securities and Exchange Commission today halted a Ponzi scheme involving a New York firm that solicited investments involving personal injury lawsuit settlements but instead shipped the money overseas. The SEC obtained a court order freezing the assets of the firm, its president, and several companies holding money from the scam that began several months ago. 2009-261 Tue, 8 Dec 2009 15:33:53 EST http://www.sec.gov/news/press/2009/2009-260.htm The Securities and Exchange Commission today charged Irvine, Calif.-based Brookstreet Securities Corp. and its President and CEO Stanley C. Brooks with fraud for systematically selling risky mortgage-backed securities to customers with conservative investment goals. The fraud cost many Brookstreet investors their savings, homes, or retirement cushions, and eventually caused the firm to collapse. 2009-260 Tue, 8 Dec 2009 13:33:00 EST http://www.sec.gov/news/press/2009/2009-259.htm The Securities and Exchange Commission announced today that George Curtis, Special Advisor to the Director of the Division of Enforcement, has returned to the private sector to rejoin the law firm of Gibson, Dunn & Crutcher as partner. 2009-259 Mon, 7 Dec 2009 14:00:31 EST http://www.sec.gov/news/press/2009/2009-258.htm The Securities and Exchange Commission today charged three former top officers of New Century Financial Corporation with securities fraud for misleading investors as New Century's subprime mortgage business was collapsing in 2006. At the time of the fraud, New Century was one of the largest subprime lenders in the nation. 2009-258 Mon, 7 Dec 2009 13:28:26 EST http://www.sec.gov/news/press/2009/2009-257.htm The Securities and Exchange Commission today announced that it has filed fraud charges against a Chicago-based health care financial services company and has frozen the assets of its co-founder who allegedly provided investors with forged financial statements to induce them into a $75 million investment scheme. 2009-257 Wed, 2 Dec 2009 17:06:15 EST http://www.sec.gov/news/press/2009/2009-256.htm The Securities and Exchange Commission today charged a Dallas and New Orleans-based hurricane restoration company and several executives for lying about non-existent business deals in the wake of Hurricane Katrina, and fraudulently inflating the company's stock price before the company's CEO sold millions of dollars in company shares. 2009-256 Mon, 30 Nov 2009 12:10:15 EST http://www.sec.gov/news/press/2009/2009-255.htm SEC Chairman Mary L. Schapiro today made the following statement: "We are pleased with the court's order adopting the SEC's distribution plan in the Reserve Primary Fund case. From the start, our goal was to return money to investors as quickly and fairly as possible and to avoid the extended quagmire of litigation that would have only served to deplete the finite pool of money used to pay investors." 2009-255 Wed, 25 Nov 2009 17:46:29 EST http://www.sec.gov/news/press/2009/2009-254.htm The Securities and Exchange Commission today announced that, for the first time, more than $2 billion has been distributed in a calendar year to injured investors as a result of SEC enforcement actions and proceedings. 2009-254 Wed, 25 Nov 2009 14:44:49 EST http://www.sec.gov/news/press/2009/2009-253.htm The Securities and Exchange Commission has obtained an emergency court order freezing the assets of a self-proclaimed Minneapolis-based money manager, a nationally syndicated radio personality and four companies they controlled in a foreign currency trading scheme that raised at least $190 million from more than 1,000 investors. 2009-253 Tue, 24 Nov 2009 16:09:39 EST http://www.sec.gov/news/press/2009/2009-252.htm The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued two joint orders related to security-based futures contracts that clarify each Commission's respective jurisdiction and allow additional products to underlie security futures. 2009-252 Fri, 20 Nov 2009 11:00:03 EST http://www.sec.gov/news/press/2009/2009-251.htm The Securities and Exchange Commission today announced the appointments of three senior officials to its Office of Investor Education and Advocacy (OIEA) to help continue its increased focus on individual investors. OIEA serves the Commission as the "investors' office" and provides educational resources to help individual investors make informed financial decisions. 2009-251 Thu, 19 Nov 2009 14:35:32 EST http://www.sec.gov/news/press/2009/2009-250.htm The Securities and Exchange Commission today charged two former Silicon Valley executives for improperly inflating the reported financial results at Santa Clara, Calif., semiconductor company Tvia, Inc. 2009-250 Tue, 17 Nov 2009 13:03:37 EST http://www.sec.gov/news/press/2009/2009-249.htm Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime. The Department of Justice will lead the task force and the Department of Treasury, HUD and the SEC will serve on the steering committee. The task force's leadership, along with representatives from a broad range of federal agencies, regulatory authorities and inspectors general, will work with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, address discrimination in the lending and financial markets and recover proceeds for victims. 2009-249 Tue, 17 Nov 2009 12:22:45 EST http://www.sec.gov/news/press/2009/2009-248.htm Eight federal regulatory agencies today released a final model privacy notice form that will make it easier for consumers to understand how financial institutions collect and share information about consumers. 2009-248 Tue, 17 Nov 2009 10:00:44 EST http://www.sec.gov/news/press/2009/2009-247.htm The Securities and Exchange Commission today charged four individuals and two companies involved in perpetrating a $30 million Ponzi scheme in which they persuaded more than 300 investors nationwide to participate in purported environmentally-friendly investment opportunities. 2009-247 Mon, 16 Nov 2009 12:58:15 EST http://www.sec.gov/news/press/2009/2009-246.htm The Securities and Exchange Commission today announced the agenda, speakers and panelists for its November 19 forum on small business capital formation. 2009-246 Fri, 13 Nov 2009 13:12:12 EST http://www.sec.gov/news/press/2009/2009-245.htm The Securities and Exchange Commission today announced a new financial literacy outreach program to promote financial literacy to elementary school students. 2009-245 Fri, 13 Nov 2009 12:06:59 EST http://www.sec.gov/news/press/2009/2009-244.htm The Securities and Exchange Commission today announced that Paul A. Beswick has been named the Deputy Chief Accountant overseeing the Accounting group within the agency's Office of the Chief Accountant. 2009-244 Fri, 13 Nov 2009 10:55:15 EST http://www.sec.gov/news/press/2009/2009-243.htm The Securities and Exchange Commission today charged two computer programmers for their role in helping convicted Ponzi schemer Bernard L. Madoff cover up the fraud at Bernard L. Madoff Investment Securities LLC for more than 15 years. 2009-243 Fri, 13 Nov 2009 09:23:44 EST http://www.sec.gov/news/press/2009/2009-242.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Robert W. Cook has been named Director of the agency's Division of Trading and Markets. 2009-242 Tue, 10 Nov 2009 16:55:34 EST http://www.sec.gov/news/press/2009/2009-241.htm The Securities and Exchange Commission today charged the former chief financial officer of a New York-based hedge fund with securities fraud for arranging secret sales of securities from his personal trading account to the hedge fund accounts at inflated prices to generate his own illicit profits. 2009-241 Tue, 10 Nov 2009 14:25:09 EST http://www.sec.gov/news/press/2009/2009-240.htm The Securities and Exchange Commission announced today that Luis R. Mejia, Chief Litigation Counsel of the Division of Enforcement, will leave the Commission. He will join the law firm of DLA Piper as a partner in the firm's Washington, D.C., office in December. 2009-240 Mon, 9 Nov 2009 13:09:43 EST http://www.sec.gov/news/press/2009/2009-239.htm The Securities and Exchange Commission today announced the opening of registration for its CCOutreach National Seminar to help chief compliance officers (CCOs) at investment advisers, investment companies, and broker-dealers enhance their compliance programs for the protection of investors. 2009-239 Mon, 9 Nov 2009 12:00:14 EST http://www.sec.gov/news/press/2009/2009-238.htm The Securities and Exchange Commission today announced that three experts in the fields of risk management, structured finance and corporate transactions have been named to senior positions at the SEC's newly-established Division of Risk, Strategy, and Financial Innovation. The Division was created in September to enhance the agency's capabilities and help identify developing risks and trends in the financial markets. 2009-238 Thu, 5 Nov 2009 16:45:30 EST http://www.sec.gov/news/press/2009/2009-237.htm SEC Chairman Mary L. Schapiro today made the following statement: "I am greatly encouraged by the commitment of the IASB and the FASB to provide greater transparency to the standard setting process and their convergence efforts. I believe that these efforts will result in improved financial information provided to investors." 2009-237 Thu, 5 Nov 2009 16:00:57 EST http://www.sec.gov/news/press/2009/2009-236.htm The Securities and Exchange Commission today charged a pair of lawyers for tipping inside information in exchange for kickbacks as well as six Wall Street traders and a proprietary trading firm involved in a $20 million insider trading scheme. 2009-236 Thu, 5 Nov 2009 12:21:51 EST http://www.sec.gov/news/press/2009/2009-235.htm The Securities and Exchange Commission today announced additional charges in its insider trading enforcement action against billionaire Raj Rajaratnam and Galleon Management LP by charging 13 additional individuals and entities, including three hedge fund managers, three professional traders at New York-based Schottenfeld Group, and a senior executive at Atheros Communications, a California-based developer of networking technologies. 2009-235 Thu, 5 Nov 2009 12:21:51 EST http://www.sec.gov/news/press/2009/2009-234.htm The Securities and Exchange Commission today charged New York City-based investment adviser Value Line Inc., its CEO, its former Chief Compliance Officer and its affiliated broker-dealer with defrauding the Value Line family of mutual funds by charging over $24 million in bogus brokerage commissions on mutual fund trades funneled through Value Line's affiliated broker-dealer, Value Line Securities, Inc. (VLS). 2009-234 Wed, 4 Nov 2009 16:00:12 EST http://www.sec.gov/news/press/2009/2009-233.htm The Securities and Exchange Commission today charged Milwaukee-based Merge Healthcare Incorporated and two former senior executives for their roles in an accounting fraud that ultimately caused the company's stock price to drop by two-thirds during a seven-month period. 2009-233 Wed, 4 Nov 2009 15:02:59 EST http://www.sec.gov/news/press/2009/2009-232.htm The Securities and Exchange Commission today charged J.P. Morgan Securities Inc. and two of its former managing directors for their roles in an unlawful payment scheme that enabled them to win business involving municipal bond offerings and swap agreement transactions with Jefferson County, Ala. This is the SEC's second enforcement action arising from Jefferson County's bond offerings and swap transactions. 2009-232 Wed, 4 Nov 2009 11:31:26 EST http://www.sec.gov/news/press/2009/2009-231.htm The Securities and Exchange Commission today announced the selection of Norm Champ as Associate Regional Director for Examinations in the agency's New York Regional Office (NYRO). 2009-231 Tue, 3 Nov 2009 16:40:53 EST http://www.sec.gov/news/press/2009/2009-230.htm The continuing resolution funding the Securities and Exchange Commission for fiscal year 2010 since Oct. 1, 2009, is being extended through Dec. 18, 2009. 2009-230 Fri, 30 Oct 2009 15:01:10 EDT http://www.sec.gov/news/press/2009/2009-229.htm The Securities and Exchange Commission today charged the former chief financial officer of a San Francisco private investment firm and six of his relatives and friends with insider trading, alleging that their scheme collectively reaped more than $8 million in illicit profits from unlawful trades in the securities of Tempur-pedic International, Inc. and Acxiom Corporation. 2009-229 Fri, 30 Oct 2009 14:11:08 EDT http://www.sec.gov/news/press/2009/2009-228.htm The Office of the Chief Accountant of the U.S. Securities and Exchange Commission today issued updated guidance on how the agency's staff interprets accounting rules related to the oil and gas industry. 2009-228 Fri, 30 Oct 2009 11:01:17 EDT http://www.sec.gov/news/press/2009/2009-227.htm The Securities and Exchange Commission today announced that it will hold its annual forum on small business capital formation on November 19 at its Washington, D.C., headquarters. 2009-227 Thu, 22 Oct 2009 15:15:27 EDT http://www.sec.gov/news/press/2009/2009-226.htm The Securities and Exchange Commission today charged a securities broker from Merrick, N.Y. with securities fraud for repeatedly creating and then distributing fake press releases to manipulate the stock prices of multiple publicly traded companies. 2009-226 Thu, 22 Oct 2009 13:27:18 EDT http://www.sec.gov/news/press/2009/2009-225.htm The Securities and Exchange Commission today charged an Oak Beach, N.Y.-based real estate funds promoter and the former president of a broker-dealer firm in Smithtown, N.Y. for orchestrating a multi-million dollar real estate investment scheme. The SEC also charged two brokers at the firm with selling unregistered securities by means of "free lunch" seminars they used to coax elderly investors into making the risky investments. 2009-225 Thu, 22 Oct 2009 12:50:47 EDT http://www.sec.gov/news/press/2009/2009-224.htm The Securities and Exchange Commission today launched its first-ever Web site devoted exclusively to investor education, providing investors with in-depth information and "top tips" on how to invest wisely, plan for the future, and avoid being scammed. 2009-224 Thu, 22 Oct 2009 12:50:47 EDT http://www.sec.gov/news/press/2009/2009-223.htm The Securities and Exchange Commission today voted unanimously to propose measures intended to increase transparency of dark pools so investors get a clearer view of stock prices and liquidity. 2009-223 Wed, 21 Oct 2009 15:47:16 EDT http://www.sec.gov/news/press/2009/2009-222.htm The Senior Supervisors Group that comprises senior financial supervisors from seven countries (United States, Canada, France, Germany, Japan, Switzerland, United Kingdom) today issued a report that evaluates how weaknesses in risk management and internal controls contributed to industry distress during the financial crisis. 2009-222 Wed, 21 Oct 2009 13:13:12 EDT http://www.sec.gov/news/press/2009/2009-221.htm The Securities and Exchange Commission today charged billionaire Raj Rajaratnam and his New York-based hedge fund advisory firm Galleon Management LP with engaging in a massive insider trading scheme that generated more than $25 million in illicit gains. 2009-221 Fri, 16 Oct 2009 13:43:22 EDT http://www.sec.gov/news/press/2009/2009-220.htm The Securities and Exchange Commission today announced that Adam Storch has been named to the newly-created position of Managing Executive of the SEC’s Division of Enforcement. 2009-220 Fri, 16 Oct 2009 12:08:17 EDT http://www.sec.gov/news/press/2009/2009-219.htm The Securities and Exchange Commission today charged three South Florida residents with conducting a Ponzi scheme and affinity fraud that collected at least $14.3 million from hundreds of Haitian-American investors residing in South Florida and New Jersey. 2009-219 Fri, 16 Oct 2009 11:51:17 EDT http://www.sec.gov/news/press/2009/2009-218.htm The Securities and Exchange Commission and the Commodity Futures Trading Commission today issued a joint report identifying areas where the agencies' regulatory schemes differ and recommending actions to address those differences, where appropriate. 2009-218 Fri, 16 Oct 2009 09:08:21 EDT http://www.sec.gov/news/press/2009/2009-217.htm The Securities and Exchange Commission today announced that Barry Walters has been named Chief Freedom of Information Act and Privacy Act Officer. 2009-217 Thu, 15 Oct 2009 13:31:28 EDT http://www.sec.gov/news/press/2009/2009-216.htm The Securities and Exchange Commission today published for public comment its Draft Strategic Plan that outlines the Commission’s strategic goals for fiscal years 2010 through 2015. 2009-216 Thu, 08 Oct 2009 14:02:16 EDT http://www.sec.gov/news/press/2009/2009-215.htm The Securities and Exchange Commission today announced that it has approved new exchange rules for breaking stock trades that deviate so substantially from current market prices that they are considered "clearly erroneous." 2009-215 Mon, 05 Oct 2009 14:06:36 EDT http://www.sec.gov/news/press/2009/2009-214.htm The Securities and Exchange Commission today announced that Lori Schock has been named Director of the agency's Office of Investor Education and Advocacy (OIEA). 2009-214 Mon, 05 Oct 2009 14:06:36 EDT http://www.sec.gov/news/press/2009/2009-213.htm The Securities and Exchange Commission today announced that the smallest publicly reporting companies will begin complying in nine months with the final portion of a key provision of a 2002 corporate governance law that requires companies to report to the public about the effectiveness of their internal control over financial reporting. 2009-213 Fri, 02 Oct 2009 12:35:05 EDT http://www.sec.gov/news/press/2009/2009-212.htm The Securities and Exchange Commission today charged AGCO Corporation with violations of the books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA), alleging that certain subsidiaries made approximately $5.9 million in kickback payments related to their sales of humanitarian goods to Iraq under the United Nations Oil for Food Program. AGCO Corporation, a manufacturer and supplier of agricultural equipment headquartered in Duluth, Ga., has agreed to pay more than $18.3 million to settle the SEC's charges. 2009-212 Wed, 30 Sep 2009 15:27:27 EDT http://www.sec.gov/news/press/2009/2009-211.htm The chairmen of the Securities and Exchange Commission and the Commodity Futures Trading Commission announced today that they anticipate, in two weeks, the two agencies will issue a report that will address key areas in which their regulatory schemes are different. The chairmen also expect the report will recommend legislative and regulatory actions to address those differences where appropriate. 2009-211 Wed, 30 Sep 2009 14:45:54 EDT http://www.sec.gov/news/press/2009/2009-210.htm The Securities and Exchange Commission today charged a virtual reality technology company, its principals, and three former sales agents for conducting a fraudulent offering scheme that garnered investors primarily through telemarketer sales out of a boiler room in the company's Delray Beach, Fla., offices. 2009-210 Tue, 29 Sep 2009 15:05:44 EDT http://www.sec.gov/news/press/2009/2009-209.htm When fiscal year 2010 starts on Oct. 1, 2009, the Securities and Exchange Commission expects to be operating under a continuing resolution that will extend through Oct. 31, 2009. 2009-209 Mon, 28 Sep 2009 15:30:17 EDT http://www.sec.gov/news/press/2009/2009-208.htm The Securities and Exchange Commission today charged Detroit-area stock broker Frank Bluestein with fraud, alleging that he lured elderly investors into a $250 million Ponzi scheme after convincing many of them to refinance their home mortgages. 2009-208 Mon, 28 Sep 2009 12:34:16 EDT http://www.sec.gov/news/press/2009/2009-207.htm The Securities and Exchange Commission today announced the panelists for its September 29 and September 30 roundtable in Washington D.C. to discuss securities lending and short sale issues. 2009-207 Fri, 25 Sep 2009 17:02:23 EDT http://www.sec.gov/news/press/2009/2009-206.htm The Securities and Exchange Commission today announced that Brian A. Bussey has been named Associate Director for Trading Practices and Processing in the Division of Trading and Markets. 2009-206 Thu, 24 Sep 2009 16:31:00 EDT http://www.sec.gov/news/press/2009/2009-205.htm The Securities and Exchange Commission today announced that Gregg Berman has been named a Senior Policy Advisor in its newly-established Division of Risk, Strategy, and Financial Innovation. 2009-205 Thu, 24 Sep 2009 15:59:55 EDT http://www.sec.gov/news/press/2009/2009-204.htm As part of its longstanding activities to increase international cooperation among securities regulators, the Securities and Exchange Commission has completed the latest of its training programs for foreign officials. 2009-204 Thu, 24 Sep 2009 14:44:23 EDT http://www.sec.gov/news/press/2009/2009-203.htm The Securities and Exchange Commission today charged Richardson, Texas resident Reza Saleh with insider trading around the public announcement of Dell Inc.'s tender offer for Perot Systems earlier this week. 2009-203 Wed, 23 Sep 2009 17:30:32 EDT http://www.sec.gov/news/press/2009/2009-202.htm The Securities and Exchange Commission today charged Alabama-based Regions Bank for its role in an offering fraud that victimized thousands of investors predominantly in Latin America. 2009-202 Mon, 21 Sep 2009 15:15:45 EDT http://www.sec.gov/news/press/2009/2009-201.htm The Securities and Exchange Commission today unanimously proposed a rule amendment that would prohibit the practice of flashing marketable orders. 2009-201 Thu, 17 Sep 2009 17:49:28 EDT http://www.sec.gov/news/press/2009/2009-200.htm The Securities and Exchange Commission today voted to take several rulemaking actions to bolster oversight of credit ratings agencies by enhancing disclosure and improving the quality of credit ratings. 2009-200 Thu, 17 Sep 2009 17:49:28 EDT http://www.sec.gov/news/press/2009/2009-199.htm Securities and Exchange Commission Chairman Mary L. Schapiro today announced that University of Texas School of Law Professor Henry T. C. Hu has been named Director of the newly-established Division of Risk, Strategy, and Financial Innovation. 2009-199 Wed, 16 Sep 2009 15:49:28 EDT http://www.sec.gov/news/press/2009/2009-198.htm Securities and Exchange Commission Chairman Mary Schapiro and Hector Sants, Chief Executive of the UK Financial Services Authority (FSA), today announced plans to explore common approaches to reporting and other regulatory requirements for key market participants such as hedge funds and their advisers. In particular, they agreed to identify a common, coherent set of data to collect from hedge fund advisers/managers to help the SEC and FSA identify risks to their regulatory objectives and mandates. 2009-198 Wed, 16 Sep 2009 11:32:53 EDT http://www.sec.gov/news/press/2009/2009-197.htm The Securities and Exchange Commission's newly-formed Investor Advisory Committee today announced that three subcommittees have been formed to address specific categories of regulatory issues as the Committee tackles its wide-ranging agenda. The subcommittees will focus on investor education, investor protection, and shareholder voting and corporate governance. 2009-197 Tue, 15 Sep 2009 12:24:23 EDT http://www.sec.gov/news/press/2009/2009-196.htm The Securities and Exchange Commission will hold a roundtable about securities lending and short sale issues on September 29 and September 30. 2009-196 Fri, 11 Sep 2009 10:42:47 EDT http://www.sec.gov/news/press/2009/2009-195.htm The Securities and Exchange Commission today charged a Bothell, Wash.-based biotechnology company, its former CEO, and its former Chief Scientific Officer for falsely telling investors that the company's cutting-edge stem cell technology had been proven successful and was headed for human trials. 2009-195 Tue, 8 Sep 2009 14:06:36 EDT http://www.sec.gov/news/press/2009/2009-194.htm The Securities and Exchange Commission today announced fraud charges and an asset freeze against the perpetrators of a Charlotte, N.C.-based investment scheme that bilked $32.5 million from approximately 500 investors by falsely promising extraordinarily high returns. 2009-194 Tue, 8 Sep 2009 12:11:55 EDT http://www.sec.gov/news/press/2009/2009-193.htm The Securities and Exchange Commission today charged a Brooklyn money manager for running a $40 million Ponzi scheme in which he promised approximately 800 investors guaranteed high returns from safe, liquid investments, but instead spent their money on real estate, his pornography mail order business, and other interests. 2009-193 Tue, 8 Sep 2009 10:53:00 EDT http://www.sec.gov/news/press/2009/2009-192.htm The Securities and Exchange Commission today announced that Katherine (Kit) Addleman, Director of the SEC's Atlanta Regional Office, will be leaving the SEC after 20 years of dedicated service at the agency in four different SEC regional offices. 2009-192 Tue, 1 Sep 2009 16:00:11 EDT http://www.sec.gov/news/press/2009/2009-191.htm The Securities and Exchange Commission today announced the distribution of more than $35 million in Fair Funds to more than 98,000 investors in Cardinal Health, Inc. who were harmed by a fraudulent revenue and earnings management scheme. 2009-191 Tue, 1 Sep 2009 15:18:19 EDT http://www.sec.gov/news/press/2009/2009-190.pdf The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) today announced the participants for the two agencies' joint meetings to seek input from the public on harmonization of market regulation. The SEC and the CFTC expect these meetings will provide the agencies valuable insight on any recommendations for changes to their statutes and regulations that would eliminate regulatory differences with respect to similar types of financial instruments. 2009-190 Tue, 1 Sep 2009 10:03:48 EDT http://www.sec.gov/news/press/2009/2009-189.htm SEC Chairman Mary L. Schapiro today issued an open letter to remind broker-dealer chief executive officers of their supervisory responsibilities following reports that special recruitment programs at some firms are premised on enhanced compensation arrangements. 2009-189 Mon, 31 Aug 2009 14:19:30 EDT http://www.sec.gov/news/press/2009/2009-188.htm The Securities and Exchange Commission today charged a Las Vegas-based accountant and his auditing firm with securities fraud for issuing false audit reports that failed to comply with Public Company Accounting Oversight Board (PCAOB) standards and were often the product of high school graduates hired with little to no education or experience in accounting or auditing. 2009-188 Thu, 27 Aug 2009 16:07:11 EDT http://www.sec.gov/news/press/2009/2009-187.htm Securities and Exchange Commission Chairman Mary Schapiro today announced the appointment of James L. Kroeker as the Chief Accountant in the SEC's Office of Chief Accountant. In this capacity, Mr. Kroeker will oversee accounting interpretations, professional practice issues, and international accounting matters. Mr. Kroeker replaces Conrad W. Hewitt, who retired from government service in January 2009. 2009-187 Tue, 25 Aug 2009 10:30:08 EDT http://www.sec.gov/news/press/2009/2009-186.htm The Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) today announced that the two regulatory agencies will hold joint meetings to seek input from the public on harmonization of market regulation. President Barack Obama in June called on the two regulators to recommend changes to statutes and regulations that would eliminate differences with respect to similar types of financial instruments. 2009-186 Thu, 20 Aug 2009 10:07:21 EDT http://www.sec.gov/news/press/2009/2009-185.htm The Securities and Exchange Commission today announced that it is seeking public comment on an alternative approach to short selling price test restrictions that may be more effective and easier to implement than previously proposed price test restrictions currently under consideration. 2009-185 Mon, 17 Aug 2009 10:46:14 EDT http://www.sec.gov/news/press/2009/2009-184.htm The Securities and Exchange Commission today charged Ohio-based investment advisers Robert Pinkas and Brantley Capital Management (BCM) with securities fraud for overvaluing assets in an investment portfolio they managed in order to generate higher investment advisory fees. The SEC also charged another BCM official. 2009-184 Thu, 13 Aug 2009 16:13:41 EDT http://www.sec.gov/news/press/2009/2009-183.htm The Securities and Exchange Commission today charged Terex Corporation, a Westport, Conn.-based heavy equipment manufacturer, with accounting fraud for making material misstatements in its own financial reports to investors, as well as aiding and abetting a fraudulent accounting scheme at United Rentals, Inc. (URI), another Connecticut-based public company. 2009-183 Wed, 12 Aug 2009 12:46:30 EDT http://www.sec.gov/news/press/2009/2009-182.htm The Securities and Exchange Commission today charged Bernard L. Madoff's chief financial officer, Frank DiPascali, with securities fraud for overseeing the mechanics of Madoff's entirely fictitious investment strategy and creating millions of phony documents and trading records to conceal the fraud from regulators and investors. 2009-182 Tue, 11 Aug 2009 16:56:51 EDT http://www.sec.gov/news/press/2009/2009-181.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Eric J. Spitler has been named Counselor to the Chairman and Director of the Office of Legislative and Intergovernmental Affairs at the SEC. 2009-181 Tue, 11 Aug 2009 12:33:35 EDT http://www.sec.gov/news/press/2009/2009-180.htm The Securities and Exchange Commission today charged former American International Group Chairman and CEO Maurice "Hank" Greenberg and former Vice Chairman and CFO Howard Smith for their involvement in numerous improper accounting transactions that inflated AIG's reported financial results between 2000 and 2005. The SEC alleges that Greenberg and Smith are liable as control persons for AIG's violations of the antifraud and other provisions of the securities laws. Smith also is charged with direct violations of the antifraud and other provisions of the securities laws. 2009-180 Thu, 6 Aug 2009 11:38:06 EDT http://www.sec.gov/news/press/2009/2009-179.htm The Securities and Exchange Commission today took its first enforcement actions for violations of the Commission's rules to prevent abusive "naked" short selling, charging two options traders and their broker-dealers with violating the locate and close-out requirements of Regulation SHO. The Commission also charged a supervisor at one of the firms. 2009-179 Wed, 5 Aug 2009 15:04:42 EDT http://www.sec.gov/news/press/2009/2009-178.htm The Securities and Exchange Commission today filed civil fraud and other charges against General Electric Company, alleging that it misled investors by reporting materially false and misleading results in its financial statements. 2009-178 Tue, 4 Aug 2009 10:32:53 EDT http://www.sec.gov/news/press/2009/2009-177.htm The Securities and Exchange Commission today charged Bank of America Corporation for misleading investors about billions of dollars in bonuses that were being paid to Merrill Lynch & Co. executives at the time of its acquisition of the firm. Bank of America agreed to settle the SEC's charges and pay a penalty of $33 million. 2009-177 Mon, 3 Aug 2009 13:20:00 EDT http://www.sec.gov/news/press/2009/2009-176.htm The Securities and Exchange Commission announced today that after serving as the Director of the agency's Miami Regional Office for nine years, and more than two decades of public service overall, David Nelson will be leaving the SEC to join the law firm of Boies, Schiller & Flexner in September. 2009-176 Thu, 30 Jul 2009 12:00:32 EDT http://www.sec.gov/news/press/2009/2009-175.htm The Securities and Exchange Commission's Investor Advisory Committee, which was formed to give investors a greater voice in the Commission's work, has agreed upon an ambitious and wide-ranging agenda. 2009-175 Wed, 29 Jul 2009 11:15:54 EDT http://www.sec.gov/news/press/2009/2009-174.htm The Securities and Exchange Commission today charged four promoters and a Phoenix-based company with securities fraud for orchestrating a mortgage lending scheme that attracted hundreds of investors by making false and misleading statements about the safety and performance of the investments. 2009-174 Tue, 28 Jul 2009 17:08:42 EDT http://www.sec.gov/news/press/2009/2009-173.htm The Securities and Exchange Commission has obtained a court order to halt an alleged offering fraud and Ponzi scheme being conducted in the Detroit area by two individuals and two companies they control. 2009-173 Tue, 28 Jul 2009 11:01:54 EDT http://www.sec.gov/news/press/2009/2009-172.htm The Securities and Exchange Commission today announced several actions that would protect against abusive short sales and make more short sale information available to the public. 2009-172 Mon, 27 Jul 2009 13:07:41 EDT http://www.sec.gov/news/press/2009/2009-171.htm The Securities and Exchange Commission today announced it has appointed Daniel Goelzer as Acting Chairman for the Public Company Accounting Oversight Board effective August 1, 2009. 2009-171 Mon, 27 Jul 2009 12:15:20 EDT http://www.sec.gov/news/press/2009/2009-170.htm The Securities and Exchange Commission today took further action to help regulate over-the-counter derivatives by approving conditional exemptions that will allow ICE Clear Europe Limited and Eurex Clearing AG to operate as central counterparties (CCPs) for clearing credit default swaps. 2009-170 Thu, 23 Jul 2009 17:26:16 EDT http://www.sec.gov/news/press/2009/2009-169.htm The Securities and Exchange Commission today charged a trader located in Kuwait and three related foreign entities for engaging in an illicit scheme through which they reaped millions of dollars in profits when trading around hoax offers to acquire U.S. companies. The SEC has obtained an emergency court order to freeze more than $5 million in trading profits located in various U.S. accounts in their names. 2009-169 Thu, 23 Jul 2009 15:36:49 EDT http://www.sec.gov/news/press/2009/2009-168.htm The Securities and Exchange Commission today voted unanimously to propose measures intended to curtail "pay to play" practices by investment advisers that seek to manage money for state and local governments. The measures are designed to prevent an adviser from making political contributions or hidden payments to influence their selection by government officials. 2009-168 Wed, 22 Jul 2009 17:48:27 EDT http://www.sec.gov/news/press/2009/2009-167.htm The Securities and Exchange Commission today asked a court to order the former chief executive officer of CSK Auto Corporation to reimburse the company and its shareholders more than $4 million that he received in bonuses and stock sale profits while CSK was committing accounting fraud. 2009-167 Wed, 22 Jul 2009 13:02:24 EDT http://www.sec.gov/news/press/2009/2009-166.htm The Securities and Exchange Commission today charged Tennessee-based broker-dealer Morgan Keegan and Company, Inc. for misleading thousands of investors about the liquidity risks associated with auction rate securities (ARS), and the agency is seeking a court order requiring Morgan Keegan to repurchase the illiquid ARS from its customers. 2009-166 Tue, 21 Jul 2009 13:46:50 EDT http://www.sec.gov/news/press/2009/2009-165.htm The Securities and Exchange Commission today charged New York-based investment adviser Perry Corp. with securities law violations for failing to report that it had purchased substantial stock in a public company. Perry purchased the shares in order to vote them in favor of a merger from which Perry stood to profit. 2009-165 Tue, 21 Jul 2009 10:46:29 EDT http://www.sec.gov/news/press/2009/2009-164.htm The Securities and Exchange Commission today charged Morgan Stanley and one of the firm's former investment adviser representatives with securities law violations for misleading clients about the money managers being recommended to them and failing to disclose conflicts of interest. 2009-164 Mon, 20 Jul 2009 12:18:46 EDT http://www.sec.gov/news/press/2009/2009-163.htm The Securities and Exchange Commission today announced settled charges against TD Ameritrade, Inc. for making inaccurate statements when selling auction rate securities (ARS) to customers. The settlement reached with the online brokerage will provide its customers the opportunity to sell back to TD Ameritrade any ARS that they bought prior to the collapse of ARS market in February 2008. 2009-163 Mon, 20 Jul 2009 11:01:14 EDT http://www.sec.gov/news/press/2009/2009-162.htm The Securities and Exchange Commission's Division of Corporation Finance today announced the selection of John R. Robinson as the Academic Accounting Fellow for a one-year term beginning next month. 2009-162 Thu, 16 Jul 2009 10:30:36 EDT http://www.sec.gov/news/press/2009/2009-161.htm The Securities and Exchange Commission today voted unanimously to propose rule amendments to improve the quality and timeliness of municipal securities disclosure. 2009-161 Wed, 15 Jul 2009 16:44:47 EDT http://www.sec.gov/news/press/2009/2009-160.htm The Securities and Exchange Commission today charged 11 individuals who were involved in separate insider trading schemes that were detected through surveillance of unusual trades preceding two different company merger announcements. 2009-160 Wed, 15 Jul 2009 13:51:58 EDT http://www.sec.gov/news/press/2009/2009-159.htm The Securities and Exchange Commission today announced that Ronald L. Crawford will become the agency's first Chief Counsel for Diversity and Policy Initiatives to further bolster the SEC's commitment to diversity in the workplace. 2009-159 Tue, 14 Jul 2009 09:30 EDT http://www.sec.gov/news/press/2009/2009-158.htm The Securities and Exchange Commission today announced that Ronald L. Crawford will become the agency's first Chief Counsel for Diversity and Policy Initiatives to further bolster the SEC's commitment to diversity in the workplace. 2009-158 Mon, 13 Jul 2009 14:05:06 EDT http://www.sec.gov/news/press/2009/2009-157.htm The Securities and Exchange Commission today charged Seattle-based securities lawyer David Otto and several others with conducting a fraudulent “pump-and-dump” scheme in which they secretly unloaded more than $1 million in penny stock of a company touting non-existent anti-aging products. 2009-157 Mon, 13 Jul 2009 13:38:13 EDT http://www.sec.gov/news/press/2009/2009-156.htm The Securities and Exchange Commission today announced fraud charges and an asset freeze against a Highland Park, Ill.-based hedge fund manager and his firm for facilitating a multi-billion dollar Ponzi scheme operated by Minnesota businessman Thomas Petters. 2009-156 Fri, 10 Jul 2009 12:25:05 EDT http://www.sec.gov/news/press/2009/2009-155.htm The Securities and Exchange Commission today announced an enforcement action against Minneapolis-based broker-dealer Ameriprise Financial Services, Inc., for receiving millions of dollars in undisclosed compensation as a condition for offering and selling certain real estate investment trusts (REITs) to its brokerage customers. Ameriprise agreed to pay $17.3 million to settle the SEC's charges. 2009-155 Fri, 10 Jul 2009 10:31:14 EDT http://www.sec.gov/news/press/2009/2009-154.htm The staff of the Securities and Exchange Commission has expressed its belief that California’s recently-issued IOUs are "securities" under federal securities law. 2009-154 Thu, 9 Jul 2009 18:19:50 EDT http://www.sec.gov/news/press/2009/2009-153.htm The Securities and Exchange Commission announced today that Lori A. Richards, Director of the SEC's Office of Compliance Inspections and Examinations (OCIE), plans to leave the agency after more than two decades of government service. 2009-153 Wed, 8 Jul 2009 14:26:02 EDT http://www.sec.gov/news/press/2009/2009-152.htm The Securities and Exchange Commission today charged New York-based broker-dealer Sky Capital LLC and six individuals involved in a fraudulent boiler room scheme that raised millions of dollars from U.S. and UK investors who were then restricted from selling their stock, and their investments later became worthless. 2009-152 Wed, 8 Jul 2009 11:16:14 EDT http://www.sec.gov/news/press/2009/2009-151.htm The Securities and Exchange Commission has obtained an emergency asset freeze in a $485 million offering fraud and Ponzi scheme orchestrated by three Dallas businessmen through a company they owned and controlled, Provident Royalties LLC. 2009-151 Tue, 7 Jul 2009 13:37:09 EDT http://www.sec.gov/news/press/2009/2009-150.htm The Securities and Exchange Commission today announced that Lorin L. Reisner, a former federal prosecutor and current litigation partner at Debevoise & Plimpton LLP, will join the Division of Enforcement as Deputy Director in early August. 2009-150 Thu, 2 Jul 2009 16:15:16 EDT http://www.sec.gov/news/press/2009/2009-149.htm The Securities and Exchange Commission's Office of the Chief Accountant today announced the selection of Jack Krogstad and Nancy Mangold as Academic Accounting Fellows for one-year terms beginning this summer. 2009-149 Thu, 2 Jul 2009 15:31:12 EDT http://www.sec.gov/news/press/2009/2009-148.htm The Securities and Exchange Commission today suspended trading in the securities of Fort Lauderdale-based music production company GenX Corporation amid questions about the accuracy and adequacy of publicly disseminated information appearing in stock promotional materials about the company and its purported relationships with music stars. 2009-148 Thu, 2 Jul 2009 12:20:22 EDT http://www.sec.gov/news/press/2009/2009-147.htm The Securities and Exchange Commission today voted on three measures that are intended to better inform and empower investors to improve corporate governance and help restore investor confidence. 2009-147 Wed, 1 Jul 2009 15:34:22 EDT http://www.sec.gov/news/press/2009/2009-146.htm The Securities and Exchange Commission today charged the former chief accounting officer of Atlanta-based home builder Beazer Homes, USA, Inc., for conducting a multi-year fraudulent earnings management scheme and misleading Beazer's outside auditors and internal Beazer accountants in order to conceal his wrongdoing. 2009-146 Wed, 1 Jul 2009 14:33:05 EDT http://www.sec.gov/news/press/2009/2009-145.htm The Securities and Exchange Commission today instituted an enforcement action against a Poughkeepsie, N.Y.-based firm and several representatives and supervisors for their alleged roles in fraudulent and unsuitable sales of variable annuities to senior citizens who were lured through free-lunch seminars at restaurants in south Florida. 2009-145 Tue, 30 Jun 2009 11:03:42 EDT http://www.sec.gov/news/press/2009/2009-144.htm The Securities and Exchange Commission today charged a Chula Vista, Calif. resident and two entities he controls for operating a Ponzi-like scheme through five hedge funds. 2009-144 Wed, 24 Jun 2009 16:05:07 EDT http://www.sec.gov/news/press/2009/2009-143.htm The Securities and Exchange Commission today charged a money manager who lives in Wayland, Mass., for conducting a multi-million dollar Ponzi scheme in which he promised investors lofty returns as high as 20 percent but instead often stole their money for his personal use. 2009-143 Wed, 24 Jun 2009 16:05:07 EDT http://www.sec.gov/news/press/2009/2009-142.htm The Securities and Exchange Commission today proposed rule amendments designed to significantly strengthen the regulatory framework for money market funds to increase their resilience to economic stresses and reduce the risks of runs on the funds. 2009-142 Wed, 24 Jun 2009 13:53:00 EDT http://www.sec.gov/news/press/2009/2009-141.htm The Securities and Exchange Commission today charged a New York-based broker-dealer and four individuals with securities fraud, alleging that they collectively raised billions of dollars from investors for Bernard L. Madoff's Ponzi scheme. 2009-141 Mon, 22 Jun 2009 13:00:02 EDT http://www.sec.gov/news/press/2009/2009-140.htm The Securities and Exchange Commission today charged two accountants who produced bogus financial statements and an Antiguan regulator who took bribes to look the other way as Robert Allen Stanford conducted an alleged $8 billion Ponzi scheme. 2009-140 Fri, 19 Jun 2009 12:06:27 EDT http://www.sec.gov/news/press/2009/2009-139.htm The Securities and Exchange Commission today charged two Oklahoma City residents with securities fraud and other violations for a scheme in which they misappropriated to themselves millions of dollars from Quest Resource Corporation, Quest Energy Partners, L.P. and their affiliates while they were executives at the company. 2009-139 Wed, 17 Jun 2009 14:52:11 EDT http://www.sec.gov/news/press/2009/2009-137.htm The Securities and Exchange Commission today obtained a court order halting an $11 million Ponzi scheme in which a Chicago-based promoter who is a convicted felon promised investors unusually high returns from purported investments in payday advance stores. 2009-137 Mon, 15 Jun 2009 17:30:55 EDT http://www.sec.gov/news/press/2009/2009-138.htm The Securities and Exchange Commission and the Department of Labor (DOL) today announced the agenda and expected panelists for their June 18 joint hearing about target date funds and other similar investment options. 2009-138 Mon, 15 Jun 2009 17:01:09 EDT http://www.sec.gov/news/press/2009/2009-136.htm The Securities and Exchange Commission today posted information on its Web site for investors in the Reserve Primary Fund, which "broke the buck" last September when its net asset value fell below $1 per share. Since then, the fund has withheld a significant amount of money from investors pending the outcome of numerous lawsuits filed against the fund, its trustees, and other officers and directors of Reserve entities. 2009-136 Mon, 15 Jun 2009 14:55:36 EDT http://www.sec.gov/news/press/2009/2009-135.htm The Securities and Exchange Commission has obtained an emergency court order and asset freeze to shut down a fraudulent prime bank scheme that promised massive returns to investors nationwide and then offered a range of administrative excuses when investors had not received any payments. 2009-135 Fri, 12 Jun 2009 14:13:44 EDT http://www.sec.gov/news/press/2009/2009-134.htm SEC and ASC charge Alabama broker-dealer for rampant churning and extensive supervisory violations. 2009-134 Fri, 12 Jun 2009 10:33:10 EDT http://www.sec.gov/news/press/2009/2009-133.htm Securities and Exchange Commission Mary Schapiro today made the following statement regarding executive compensation. 2009-133 Wed, 10 Jun 2009 14:22:42 EDT http://www.sec.gov/news/press/2009/2009-132.htm The Securities and Exchange Commission today charged an investment adviser who lives in Armonk, N.Y., for orchestrating a scheme in which he stole more than $6 million in investor funds for his own personal use, in some instances victimizing clients who were terminally ill or mentally impaired. 2009-132 Wed, 10 Jun 2009 12:30:36 EDT http://www.sec.gov/news/press/2009/2009-131.htm The Securities and Exchange Commission today charged two California men and two companies they control for conducting an $80 million Ponzi scheme that targeted Korean-American investors with false promises of extraordinarily high returns from foreign currency (forex) trading. 2009-131 Tue, 9 Jun 2009 13:56:50 EDT http://www.sec.gov/news/press/2009/2009-130.htm The Securities and Exchange Commission today charged Boston-based Evergreen Investment Management Company LLC and an affiliate with securities law violations for overstating the value of a mutual fund that invested primarily in mortgage-backed securities, and then only selectively telling shareholders about the fund's valuation problems. 2009-130 Mon, 8 Jun 2009 11:15:21 EDT http://www.sec.gov/news/press/2009/2009-129.htm The Securities and Exchange Commission today charged former Countrywide Financial CEO Angelo Mozilo and two other former executives with securities fraud for deliberately misleading investors about the significant credit risks being taken in efforts to build and maintain the company's market share. Mozilo was additionally charged with insider trading for selling his Countrywide stock based on non-public information for nearly $140 million in profits. 2009-129 Thu, 4 Jun 2009 16:06:15 EDT http://www.sec.gov/news/press/2009/2009-128.htm The U.S. Securities and Exchange Commission's Office of the Chief Accountant announced today the release of Staff Accounting Bulletin (SAB) No. 112. 2009-128 Thu, 4 Jun 2009 13:08:13 EDT http://www.sec.gov/news/press/2009/2009-127.htm The Securities and Exchange Commission today announced finalized settlements with Bank of America, RBC Capital Markets, and Deutsche Bank to resolve SEC charges that the firms misled investors regarding the liquidity risks associated with auction rate securities (ARS) that they underwrote, marketed, or sold. 2009-127 Wed, 3 Jun 2009 14:51:29 EDT http://www.sec.gov/news/press/2009/2009-126.htm Securities and Exchange Commission Chairman Mary Schapiro today announced the formation of an Investor Advisory Committee to give investors a greater voice in the Commission's work. SEC Commissioner Luis A. Aguilar will serve as the Commission's primary sponsor of the Committee. 2009-126 Wed, 3 Jun 2009 13:07:18 EDT http://www.sec.gov/news/press/2009/2009-125.htm The Securities and Exchange Commission Chairman Mary Schapiro today announced the appointment of George S. Canellos as Regional Director of the SEC's New York Regional Office, where he will oversee the enforcement and examination operations. 2009-125 Tue, 2 Jun 2009 13:29:27 EDT http://www.sec.gov/news/press/2009/2009-124.htm The Securities and Exchange Commission today announced the Fair Fund distribution of more than $78 million to more than 590,000 investors who were affected by undisclosed market timing in certain AIM mutual funds. 2009-124 Mon, 1 Jun 2009 15:06:42 EDT http://www.sec.gov/news/press/2009/2009-123.htm The Securities and Exchange Commission today charged 10 brokers with fraud for falsely marketing investments in derivatives of mortgage-backed securities as safe and suitable for retirees and others with conservative investment goals. 2009-123 Thu, 28 May 2009 14:19:25 EDT http://www.sec.gov/news/press/2009/2009-122.htm The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of Texas A&M finance professor Robert D. Watson, Houston lawyer and certified public accountant Daniel J. Petroski, and two firms. 2009-122 Tue, 26 May 2009 12:49:02 EDT http://www.sec.gov/news/press/2009/2009-121.htm Securities and Exchange Commission Chairman Mary Schapiro today outlined a series of measures the agency is taking to strengthen its internal compliance program to guard against inappropriate employee securities trading. 2009-121 Fri, 22 May 2009 16:22:35 EDT http://www.sec.gov/news/press/2009/2009-120.htm The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of an Appleton, Wisc.-based investment adviser charged with engaging in a kickback scheme and other fraudulent conduct involving six unregistered investment pools it managed. 2009-120 Fri, 22 May 2009 11:02:53 EDT http://www.sec.gov/news/press/2009/2009-119.htm The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of an Appleton, Wisc.-based investment adviser charged with engaging in a kickback scheme and other fraudulent conduct involving six unregistered investment pools it managed. 2009-119 Thu, 21 May 2009 15:38:51 EDT http://www.sec.gov/news/press/2009/2009-118.htm The Securities and Exchange Commission today charged a trader from Fort Myers, Fla., with fraud for writing and disseminating a fake press release that, when reported in the media, caused a company's stock price to soar and allowed him to reap thousands of dollars in illicit profits. 2009-118 Thu, 21 May 2009 14:43:23 EDT http://www.sec.gov/news/press/2009/2009-117.htm The Securities and Exchange Commission has charged eight participants in a penny stock manipulation ring that allegedly pumped the market prices of at least four stocks and generated more than $6.2 million in illicit profits when they dumped shares on the market. 2009-117 Thu, 21 May 2009 10:13:39 EDT http://www.sec.gov/news/press/2009/2009-116.htm The Securities and Exchange Commission today voted to propose a comprehensive series of rule amendments to facilitate the rights of shareholders to nominate directors on corporate boards. 2009-116 Wed, 20 May 2009 17:00:25 EDT http://www.sec.gov/news/press/2009/2009-114.htm The Securities and Exchange Commission will conduct a public seminar on June 10, 2009, to help companies and preparers comply with new rules that require financial reports to be filed using interactive data (XBRL). 2009-114 Mon, 18 May 2009 12:31:48 EDT http://www.sec.gov/news/press/2009/2009-113.htm The Securities and Exchange Commission today charged employment search provider Monster Worldwide, Inc. for its multi-year scheme to secretly backdate stock options granted to thousands of Monster officers, directors and employees. Monster agreed to pay a $2.5 million penalty to settle the SEC's charges that the company defrauded investors by granting backdated, undisclosed "in-the-money" stock options while failing to record required non-cash charges for option-related compensation expenses. 2009-113 Mon, 18 May 2009 11:42:00 EDT http://www.sec.gov/news/press/2009/2009-112.htm The Securities and Exchange Commission today announced the start of a $267 million Fair Fund distribution to mutual funds and mutual fund shareholders who were harmed by late trading and market timing that occurred through Bear Stearns, which was charged by the SEC in a 2006 enforcement action. 2009-112 Fri, 15 May 2009 16:46:41 EDT http://www.sec.gov/news/press/2009/2009-111.htm The Securities and Exchange Commission announced today that William Schulz, Director of Legislative and Intergovernmental Affairs, plans to leave the agency to enter the private sector after having served as a key liaison between the Commission and the Congress. 2009-111 Thu, 14 May 2009 17:15:31 EDT http://www.sec.gov/news/press/2009/2009-110.htm The Securities and Exchange Commission today charged two New Jersey men with orchestrating a fraudulent scheme that sold unregistered securities and commingled investor funds with their payroll service used by New Jersey municipalities and small businesses. 2009-110 Thu, 14 May 2009 17:15:31 EDT http://www.sec.gov/news/press/2009/2009-109.htm The Securities and Exchange Commission today proposed rule amendments to substantially increase protections for investors who entrust their money to investment advisers. 2009-109 Thu, 14 May 2009 16:38:15 EDT http://www.sec.gov/news/press/2009/2009-108.htm The Securities and Exchange Commission today charged Julio Ramirez, Jr., who was formerly affiliated with Los Angeles-based broker-dealers DAV/Wetherly Financial L.P. and Park Hill Group LLC, in connection with a multi-million dollar kickback scheme involving New York's largest pension fund. 2009-108 Tue, 12 May 2009 13:06:00 EDT http://www.sec.gov/news/press/2009/2009-107.htm The Securities and Exchange Commission and the Department of Labor will hold a joint one-day hearing on June 18 to explore issues relating to target date or lifecycle funds and other similar investment options. 2009-107 Tue, 12 May 2009 11:19:08 EDT http://www.sec.gov/news/press/2009/2009-106.htm The Securities and Exchange Commission announced today that Michael Lauer, the head of two Connecticut-based hedge fund advisors, has been ordered to pay more than $62 million within 15 days as a result of being found liable on SEC fraud charges last fall. 2009-106 Fri, 08 May 2009 11:02:42 EDT http://www.sec.gov/news/press/2009/2009-105.htm The Securities and Exchange Commission has charged West Palm Beach, Fla.-based INTECH Investment Management LLC and its former chief operating officer David E. Hurley for violating the SEC's proxy voting rule for investment advisers by not sufficiently describing its proxy voting policies and procedures and failing to address a material potential conflict of interest. 2009-105 Fri, 08 May 2009 10:48:40 EDT http://www.sec.gov/news/press/2009/2009-104.htm The Securities and Exchange Commission today filed fraud charges against several entities and individuals who operate the Reserve Primary Fund for failing to provide key material facts to investors and trustees about the fund's vulnerability as Lehman Brothers Holdings, Inc. sought bankruptcy protection. 2009-104 Tue, 05 May 2009 14:12:37 EDT http://www.sec.gov/news/press/2009/2009-103.htm The Securities and Exchange Commission today charged two California-based attorneys as well as a California corporation and its owner for preparing and issuing fraudulent legal opinions involving unregistered stock that enabled promoters and others to sell shares in an illegal pump-and-dump scheme. 2009-103 Tue, 05 May 2009 12:05:13 EDT http://www.sec.gov/news/press/2009/2009-102.htm The Securities and Exchange Commission today charged Renato Negrin, a former portfolio manager at hedge fund investment adviser Millennium Partners L.P., and Jon-Paul Rorech, a salesman at Deutsche Bank Securities Inc., with insider trading in credit default swaps of VNU N.V., an international holding company that owns Nielsen Media and other media businesses. 2009-102 Tue, 05 May 2009 10:18:21 EDT http://www.sec.gov/news/press/2009/2009-101.htm The Securities and Exchange Commission today announced the agenda and panelists for its May 5 roundtable to discuss short sale price tests and short sale circuit breakers. 2009-101 Fri, 01 May 2009 12:34:44 EDT http://www.sec.gov/news/press/2009/2009-100.htm The Securities and Exchange Commission today announced that in fiscal year 2010 the fees that public companies and other issuers pay to register their securities with the Commission will be set at $71.30 per million dollars. In addition, the fees applicable to most securities transactions will be fixed at $12.70 per million dollars. 2009-100 Thu, 30 Apr 2009 16:39:04 EDT http://www.sec.gov/news/press/2009/2009-99.htm The Securities and Exchange Commission today charged a former Citigroup investment banker for repeatedly tipping his brother about upcoming merger deals in an insider trading scheme that involved friends and family throughout Northern California and the Midwest and reaped more than $6 million in illicit profits. 2009-99 Thu, 30 Apr 2009 14:50:37 EDT http://www.sec.gov/news/press/2009/2009-98.htm The Securities and Exchange Commission today announced a new effort to identify and assess risks in the financial markets by attracting seasoned industry professionals to the agency's Office of Risk Assessment. 2009-98 Thu, 30 Apr 2009 12:00:01 EDT http://www.sec.gov/news/press/2009/2009-97.htm The Securities and Exchange Commission today announced charges against Dallas-based Aldus Equity Partners, L.P. and one of its founding principals, Saul Meyer, in connection with a multi-million dollar kickback scheme involving New York's largest pension fund. 2009-97 Thu, 30 Apr 2009 11:14:25 EDT http://www.sec.gov/news/press/2009/2009-96.htm The Securities and Exchange Commission today obtained a court order halting a fraudulent scheme in Beverly Hills, Calif., in which investors were coaxed into investing in two hedge funds that purportedly held more than $800 million in assets when in fact the funds lost money and have less than $1 million in assets. 2009-96 Wed, 29 Apr 2009 16:59:42 EDT http://www.sec.gov/news/press/2009/2009-95.htm The Securities and Exchange Commission's Office of the Chief Accountant (OCA) has selected four professional accounting fellows for two-year terms beginning in 2009. 2009-95 Wed, 29 Apr 2009 15:49:31 EDT http://www.sec.gov/news/press/2009/2009-94.htm The Securities and Exchange Commission today announced the schedule and start of registration for 11 CCOutreach regional seminars for investment adviser and mutual fund Chief Compliance Officers (CCOs) that will be held in several cities around the country during the next few months. 2009-94 Tue, 28 Apr 2009 16:56:26 EDT http://www.sec.gov/news/press/2009/2009-93.htm The Securities and Exchange Commission today charged Tulsa, Okla.-based attorney Matthew J. Browne with insider trading, alleging that he sold all of the stock he owned in a local energy company on the basis of confidential information that he learned while providing legal services to a client. 2009-93 Tue, 28 Apr 2009 15:00:01 EDT http://www.sec.gov/news/press/2009/2009-92.htm The Securities and Exchange Commission today charged two former executives at American Home Mortgage Investment Corporation for engaging in accounting fraud and making false and misleading disclosures to conceal from investors the company's worsening financial condition in early 2007 as the subprime crisis emerged. 2009-92 Tue, 28 Apr 2009 12:48:08 EDT http://www.sec.gov/news/press/2009/2009-91.htm Securities and Exchange Commission Chairman Mary Schapiro today named James Brigagliano and Daniel M. Gallagher as Co-Acting Directors of the SEC's Division of Trading and Markets, replacing Erik R. Sirri, who left the agency on April 24. 2009-91 Mon, 27 Apr 2009 17:45:11 EDT http://www.sec.gov/news/press/2009/2009-90.htm The Securities and Exchange Commission today obtained an emergency court order to freeze the assets of a Connecticut-based money manager and the hedge funds that he controls, alleging that he forged documents, promised false returns, and misrepresented assets managed by the funds to illicitly raise more than $30 million from investors. 2009-90 Mon, 27 Apr 2009 17:45:11 EDT http://www.sec.gov/news/press/2009/2009-89.htm The Securities and Exchange Commission has obtained an emergency court order freezing the assets of Newport Beach, Calif.-based financier Danny Pang and his two companies for allegedly defrauding investors of hundreds of millions of dollars by misrepresenting investments in the life insurance policies of senior citizens and in timeshare real estate. The SEC obtained additional relief against Pang including an order requiring him to repatriate assets sent overseas and turn over to the court all of his passports. 2009-89 Mon, 27 Apr 2009 17:45:11 EDT http://www.sec.gov/news/press/2009/2009-88.htm The Securities and Exchange Commission will hold a roundtable on May 5 beginning at 10 a.m. ET to further discuss whether short sale price test restrictions or short sale circuit breakers should be adopted. 2009-88 Fri, 24 Apr 2009 10:00:00 EDT http://www.sec.gov/news/press/2009/2009-87.htm The Securities and Exchange Commission has obtained an emergency asset freeze and the appointment of a receiver over a Naples, Fla.-based investment adviser that has been charged with defrauding investors by misrepresenting the nature of $550 million in investments. The receivership and asset freeze also extend to the funds managed by the investment adviser. 2009-87 Thu, 23 Apr 2009 15:07:30 EDT http://www.sec.gov/news/press/2009/2009-86.htm The Securities and Exchange Commission today charged New York-based investment adviser Hennessee Group LLC and its principal Charles J. Gradante with securities law violations for failing to perform their advertised review and analysis before recommending that their clients invest in the Bayou hedge funds that were later discovered to be a fraud. 2009-86 Wed, 22 Apr 2009 13:02:55 EDT http://www.sec.gov/news/press/2009/2009-85.htm The Securities and Exchange Commission has charged a Philadelphia-area investment adviser and its principal with misappropriating millions of dollars in client assets, and obtained an emergency court order freezing their assets. 2009-85 Mon, 20 Apr 2009 10:35:14 EDT http://www.sec.gov/news/press/2009/2009-84.htm The Securities and Exchange Commission announced today that it has reopened the public comment period on a proposal for a model privacy form that financial institutions could use to provide disclosures required by the Gramm-Leach-Bliley Act. 2009-84 Wed, 15 Apr 2009 13:00:25 EDT http://www.sec.gov/news/press/2009/2009-83.htm The Securities and Exchange Commission today charged a former New York state political party leader and a former hedge fund manager in connection with a multi-million dollar kickback scheme involving New York's largest pension fund. 2009-83 Wed, 15 Apr 2009 11:12:02 EDT http://www.sec.gov/news/press/2009/2009-82.htm The Securities and Exchange Commission's Office of the Chief Accountant and Division of Corporation Finance today announced the release of Staff Accounting Bulletin (SAB) No. 111. 2009-82 Tue, 14 Apr 2009 16:43:45 EDT http://www.sec.gov/news/press/2009/2009-81.htm Investors who were defrauded by schemes involving Concorde America, Inc. and Absolute Health and Fitness, Inc. will be receiving all of their money back due to the efforts of the Securities and Exchange Commission. 2009-81 Tue, 14 Apr 2009 15:02:04 EDT http://www.sec.gov/news/press/2009/2009-80.htm The Securities and Exchange Commission today charged seven leading members of a church in Queens, N.Y. for orchestrating a fraudulent investment scheme that targeted mostly elderly parishioners. The seven individuals defrauded investors of more than $12 million by making numerous misrepresentations, including promises of returns as high as 75 percent, to encourage them to invest in two hedge funds — the Logos Fund and the Donum Fund. Instead of investing the money as promised, the defendants misappropriated millions of dollars to furnish their own lavish lifestyles with purchases of luxury cars, jewelry, clothing, meals, and expensive foreign travel. 2009-80 Tue, 14 Apr 2009 11:22:48 EDT http://www.sec.gov/news/press/2009/2009-79.htm The Securities and Exchange Commission today charged an El Segundo, Calif.-based promoter and her firm for operating a $23 million Ponzi scheme that purported to use investor funds to invest in risk-free, high-yield investment programs involving bank trading, oil and gold exploration, or real estate. 2009-79 Mon, 13 Apr 2009 17:26:29 EDT http://www.sec.gov/news/press/2009/2009-78.htm Securities and Exchange Commission Chairman Mary L. Schapiro today announced that former SEC official Meredith B. Cross will return to the agency as its new Director of the Division of Corporation Finance. 2009-78 Mon, 13 Apr 2009 16:31:51 EDT http://www.sec.gov/news/press/2009/2009-77.htm The Securities and Exchange Commission today charged a Marietta, Ga.-based attorney for operating a Ponzi scheme that sold promissory notes to raise funds that were purportedly invested in real estate transactions, including private mortgages. 2009-77 Thu, 09 Apr 2009 14:11:16 EDT http://www.sec.gov/news/press/2009/2009-76.htm The Securities and Exchange Commission today voted unanimously to seek public comment on whether short sale price restrictions or circuit breaker restrictions should be imposed and whether such measures would help promote market stability and restore investor confidence. In June 2007, the SEC voted to eliminate price restrictions. 2009-76 Wed, 08 Apr 2009 14:10:23 EDT http://www.sec.gov/news/press/2009/2009-75.htm The Securities and Exchange Commission has charged a Denver-based investment manager and his firm for conducting a multi-million dollar Ponzi scheme through the sale of shares in investment funds that he manages. The SEC also charged the limited liability companies that issued the securities. The SEC is seeking an emergency court order to freeze all of their assets. 2009-75 Wed, 08 Apr 2009 12:07:20 EDT http://www.sec.gov/news/press/2009/2009-74.htm The Securities and Exchange Commission has obtained an asset freeze to halt a multi-million dollar Ponzi scheme and affinity fraud targeting members of the Chinese-American community, primarily in the Dallas area. 2009-74 Mon, 06 Apr 2009 12:23:48 EDT http://www.sec.gov/news/press/2009/2009-73.htm The Securities and Exchange Commission today halted a multi-million dollar Ponzi scheme and froze the assets of the Long Island-based investment adviser operating it. 2009-73 Wed, 01 Apr 2009 15:52:10 EDT http://www.sec.gov/news/press/2009/2009-72.htm The Securities and Exchange Commission today charged video and computer game publisher and distributor Take-Two Interactive Software, Inc. for falsifying its reported income over a seven-year period. Take-Two agreed to pay a $3 million penalty to settle the SEC's charges that the company defrauded investors by granting backdated, undisclosed "in-the-money" stock options to officers, directors, and key employees while failing to record required non-cash charges for option-related compensation expenses. The SEC previously charged Take Two's former Chief Executive Officer and Chairman Ryan Brant for his alleged role as the architect of the fraudulent options backdating scheme. 2009-72 Wed, 01 Apr 2009 12:03:09 EDT http://www.sec.gov/news/press/2009/2009-71.htm The Securities and Exchange Commission today charged John H. Min of Tacoma, Wash., and his company Dime Financial Group LLC for raising more than $6 million in a fraudulent investment scheme that targeted churches, church members and senior citizens. The SEC alleges that Min misled some investors into believing their money would support Third World charitable causes while in fact spending the funds on his own lavish lifestyle and on failed high-risk investments. 2009-71 Tue, 31 Mar 2009 15:05:01 EDT http://www.sec.gov/news/press/2009/2009-70.htm The Securities and Exchange Commission announced today that Erik R. Sirri, Director of the SEC's Division of Trading and Markets, plans to leave the agency at the end of April and return to academia. 2009-70 Tue, 31 Mar 2009 12:04:39 EDT http://www.sec.gov/news/press/2009/2009-69.htm The Securities and Exchange Commission today announced the distribution of the $60 million Fair Fund created as part of a settled SEC enforcement action against MBIA Inc. in 2007. 2009-69 Fri, 27 Mar 2009 14:36:02 EDT http://www.sec.gov/news/press/2009/2009-68.htm The Securities and Exchange Commission has obtained an emergency court order halting a $68 million Ponzi scheme involving the sale of fictitious high-yield certificates of deposit (CDs) by Caribbean-based Millennium Bank. 2009-68 Thu, 26 Mar 2009 13:18:55 EDT http://www.sec.gov/news/press/2009/2009-67.htm The Securities and Exchange Commission has obtained an emergency court order freezing the assets of a Chicago-area investment adviser and two of its principals who are alleged to have misappropriated more than $4 million in client assets by transferring them to third parties, and incorrectly reported the net asset and other investment values to investors. 2009-67 Wed, 25 Mar 2009 16:02:43 EDT http://www.sec.gov/news/press/2009/2009-66.htm The Securities and Exchange Commission announced today that the child development center at its Washington, D.C., headquarters has been awarded a Gold-level Leadership in Energy and Environment Design designation by the U.S. Green Building Council. 2009-66 Wed, 25 Mar 2009 14:30:21 EDT http://www.sec.gov/news/press/2009/2009-65.htm The Securities and Exchange Commission today announced the expected panelists for its April 15 roundtable relating to its oversight of credit rating agencies. 2009-65 Tue, 24 Mar 2009 16:16:41 EDT http://www.sec.gov/news/press/2009/2009-64.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Didem A. Nisanci has been named SEC Chief of Staff. 2009-64 Tue, 24 Mar 2009 12:44:27 EDT http://www.sec.gov/news/press/2009/2009-63.htm The Securities and Exchange Commission today obtained an emergency court order to halt an ongoing scheme by a Palmdale, Calif., company and two individuals who defrauded investors through a series of false claims including that Warren Buffett is associated with the company. 2009-63 Mon, 23 Mar 2009 16:58:50 EDT http://www.sec.gov/news/press/2009/2009-62.htm The Securities and Exchange Commission today charged New York's former Deputy Comptroller and a top political advisor for extracting millions of dollars in kickbacks from investment management firms seeking to manage the assets of New York's largest pension fund. 2009-62 Thu, 19 Mar 2009 12:43:03 EDT http://www.sec.gov/news/press/2009/2009-61.htm The Securities and Exchange Commission today announced that two Texas men have settled SEC charges that they perpetrated a massive e-mail spam campaign to drive up the demand for low value stocks they owned. 2009-61 Wed, 18 Mar 2009 16:38:57 EDT http://www.sec.gov/news/press/2009/2009-60.htm The Securities and Exchange Commission today charged the auditors of Bernard Madoff's broker-dealer firm with committing securities fraud by representing that they had conducted legitimate audits, when in fact they had not. 2009-60 Wed, 18 Mar 2009 10:44:10 EDT http://www.sec.gov/news/press/2009/2009-59.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Julie Zelman Davis has been named Deputy Director of the agency's Office of Legislative and Intergovernmental Affairs, where she will serve as a key liaison between the Commission and Congress. 2009-59 Mon, 16 Mar 2009 13:15:17 EDT http://www.sec.gov/news/press/2009/2009-58.htm The Securities and Exchange Commission today took further action to help increase the transparency of credit default swaps by approving conditional exemptions that will allow the Chicago Mercantile Exchange Inc. (CME) to operate as a central counterparty for clearing them. 2009-58 Fri, 13 Mar 2009 17:00:25 EDT http://www.sec.gov/news/press/2009/2009-57.htm The Securities and Exchange Commission today charged Aliso Viejo, Calif.-based software manufacturer Quest Software, Inc. and three current or former officers for stock option backdating. 2009-57 Thu, 12 Mar 2009 17:33:44 EDT http://www.sec.gov/news/press/2009/2009-56.htm President Barack Obama is expected to sign today H.R. 1105, the appropriations bill that includes funding for the Securities and Exchange Commission. Accordingly, effective March 16, 2009, the Section 6(b) fee rate applicable to the registration of securities, the Section 13(e) fee rate applicable to the repurchase of securities, and the Section 14(g) fee rate applicable to proxy solicitations and statements in corporate control transactions will increase to $55.80 per million dollars. The Section 6(b) rate is also the rate used to calculate the fees payable with the Annual Notice of Securities Sold Pursuant to Rule 24f-2 under the Investment Company Act of 1940. 2009-56 Wed, 11 Mar 2009 17:30:25 EDT http://www.sec.gov/news/press/2009/2009-55.htm The Securities and Exchange Commission today charged Northern California residents Anthony Vassallo and Kenneth Kenitzer for orchestrating a multi-million dollar investment fraud. Vassallo agreed to a court order freezing his assets. 2009-55 Wed, 11 Mar 2009 14:29:52 EDT http://www.sec.gov/news/press/2009/2009-54.htm The Securities and Exchange Commission today charged Merrill Lynch, Pierce, Fenner and Smith Inc. with securities laws violations for having inadequate policies and procedures for controlling access to institutional customer order flow. Merrill Lynch agreed to settle the SECs charges and pay a $7 million penalty, among other remedies. 2009-54 Wed, 11 Mar 2009 10:02:28 EDT http://www.sec.gov/news/press/2009/2009-53.htm The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today announced the opening of registration for five CCOutreach BD regional seminars in 2009. 2009-53 Tue, 10 Mar 2009 10:00:37 EDT http://www.sec.gov/news/press/2009/2009-52.htm The Senior Supervisors Group that comprises senior financial supervisors from seven countries (United States, Canada, France, Germany, Japan, Switzerland, United Kingdom) today issued a report that assesses how firms manage their credit default swap activities related to the settlement of credit derivatives transactions terminated by the occurrence of a credit event. 2009-52 Mon, 9 Mar 2009 12:10:37 EDT http://www.sec.gov/news/press/2009/2009-51.htm The Securities and Exchange Commission today charged a money manager with offices in New York and Rhode Island for falsely creating a billion-dollar client in order to gain credibility and attract legitimate investors. 2009-51 Mon, 9 Mar 2009 11:32:59 EDT http://www.sec.gov/news/press/2009/2009-50.htm The continuing resolution funding the Securities and Exchange Commission for fiscal year 2009 since Oct. 1, 2008, is being extended through March 10, 2009. Therefore, fees paid under Section 6(b) of the Securities Act of 1933 and Sections 13(e), 14(g) and 31 of the Securities Exchange Act of 1934 will remain at their current rates. 2009-50 Fri, 6 Mar 2009 16:30:12 EST http://www.sec.gov/news/press/2009/2009-49.htm The Securities and Exchange Commission today took action to help improve transparency in the multi-trillion dollar credit default swap market by approving conditional exemptions that will allow ICE US Trust LLC to operate as a central counterparty for clearing credit default swaps. 2009-49 Fri, 6 Mar 2009 16:03:43 EST http://www.sec.gov/news/press/2009/2009-48.htm The Securities and Exchange Commission announced today that Mark D. Cahn has been named a Deputy General Counsel in the SEC's Office of the General Counsel, and he will join the agency staff next week. 2009-48 Fri, 6 Mar 2009 12:46:36 EST http://www.sec.gov/news/press/2009/2009-47.htm The Securities and Exchange Commission announced today that Jeffrey P. Singdahlsen has been named the Associate General Counsel for Legal Policy in the agency's Office of the General Counsel. 2009-47 Fri, 6 Mar 2009 12:46:36 EST http://www.sec.gov/news/press/2009/2009-46.htm The Securities and Exchange Commission will hold a roundtable on April 15 relating to its oversight of credit rating agencies. Discussion topics will include issues related to recent SEC rulemaking initiatives, such as conflicts of interest, competition, and transparency. 2009-46 Fri, 6 Mar 2009 12:36:09 EST http://www.sec.gov/news/press/2009/2009-45.htm The Securities and Exchange Commission has charged Los Angeles resident Bruce Friedman and two of his companies with securities fraud, and obtained an emergency court order to freeze their assets and halt an alleged ongoing investment scheme involving purported real estate and mortgage lending ventures. 2009-45 Thu, 5 Mar 2009 13:10:42 EST http://www.sec.gov/news/press/2009/2009-44.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that the agency is moving to improve the handling of whistleblower complaints and enforcement tips in order to better protect investors. 2009-44 Thu, 5 Mar 2009 11:24:15 EST http://www.sec.gov/news/press/2009/2009-43.htm The Securities and Exchange Commission today announced that James Brigagliano has been named a Deputy Director in the agency's Division of Trading and Markets. 2009-43 Wed, 4 Mar 2009 14:10:53 EST http://www.sec.gov/news/press/2009/2009-42.htm The Securities and Exchange Commission today brought enforcement actions against 14 specialist firms for unlawful proprietary trading on several regional and options exchanges. The firms agreed to settle the SEC's charges by collectively paying nearly $70 million in disgorgement and penalties. 2009-42 Wed, 4 Mar 2009 13:10:15 EST http://www.sec.gov/news/press/2009/2009-41.htm Effective on April 1, 2009, or 30 days after the date of enactment of the Commission's regular appropriation for FY 2009, whichever is later, the Section 31 fee rate applicable to securities transactions on the exchanges and over-the-counter markets will increase to $25.70 per million dollars. Until that date, the current rate of $5.60 per million dollars will remain in effect. The Section 31 assessment on security futures transactions will remain unchanged at $0.0042 per round turn transaction. 2009-41 Wed, 4 Mar 2009 10:55:31 EST http://www.sec.gov/news/press/2009/2009-40.htm The Securities and Exchange Commission has announced an enforcement action against Los Angeles-based investment adviser M.A.G. Capital LLC and its president and sole owner, David F. Firestone, for taking warrants from three hedge funds that M.A.G. advises without compensating the funds for them. 2009-40 Tue, 3 Mar 2009 15:59:58 EST http://www.sec.gov/news/press/2009/2009-39.htm The Securities and Exchange Commission today is warning investors and financial services firms about con-artists who may use the names of actual SEC employees to mislead potential victims. The agency also is providing information to help potential victims protect themselves from SEC impersonators. 2009-39 Mon, 2 Mar 2009 16:03:44 EST http://www.sec.gov/news/press/2009/2009-38.htm The Securities and Exchange Commission today charged Oregon-based Sunwest Management Inc. with securities fraud and is seeking an emergency court order freezing its assets. The SEC alleges that Sunwest, which operates hundreds of retirement homes across the United States, lied to investors about its operations and concealed the risks of the investments, exposing investors to massive losses when the economic downturn triggered Sunwest's collapse. 2009-38 Mon, 2 Mar 2009 16:03:44 EST http://www.sec.gov/news/press/2009/2009-37.htm The following is a statement from SEC Chairman Mary L. Schapiro regarding the President's FY 2010 budget request for the SEC, which represents a 13 percent increase over its FY 2008 budget: "The President's requested budget increase for the SEC would enable us to increase our staff and use new technology to pursue risk-based approaches that would better detect fraud and ensure stronger oversight of the nation's securities markets. We appreciate these additional resources that would help strengthen and reinvigorate the SEC and rededicate our commitment to the protection of investors." 2009-37 Thu, 26 Feb 2009 17:00:23 EST http://www.sec.gov/news/press/2009/2009-36.htm The Securities and Exchange Commission today charged Mark Bloom and his firm North Hills Management LLC with securities fraud, and obtained an emergency court order to freeze their assets and halt an alleged investment scheme involving the marketing of a "fund of funds" investment vehicle. 2009-36 Wed, 25 Feb 2009 16:41:18 EST http://www.sec.gov/news/press/2009/2009-35.htm The Securities and Exchange Commission today took emergency action and obtained an asset freeze against two New York residents and their three affiliated entities, who orchestrated a brazen investment fraud involving the misappropriation of as much as $554 million in investor assets. 2009-35 Wed, 25 Feb 2009 15:49:42 EST http://www.sec.gov/news/press/2009/2009-34.htm The Securities and Exchange Commission today charged a Pearl River, N.Y., investment management firm and its principal for operating a large-scale scheme that defrauded hundreds of investors of millions of dollars by providing them with misleading marketing materials that significantly overstated investment returns and by misrepresenting the value of the assets under management. 2009-34 Wed, 25 Feb 2009 13:56:39 EST http://www.sec.gov/news/press/2009/2009-33.htm The Securities and Exchange Commission announced today that Michael A. Conley has been named Deputy Solicitor in the Appellate Group of the SEC's Office of the General Counsel. In that role, Mr. Conley will help oversee the Commission's appellate and amicus curiae litigation. 2009-33 Tue, 24 Feb 2009 11:30:36 EST http://www.sec.gov/news/press/2009/2009-32.htm The Securities and Exchange Commission today made the following statement regarding its enforcement action against Robert Allen Stanford: "At the request of the SEC, Special Agents of the Federal Bureau of Investigation's Richmond Division today located and identified Stanford Financial Group chairman Allen Stanford in the Fredericksburg, Va., area. The agents served Mr. Stanford with court orders and documents related to the SEC's civil filing against him and three of his companies. The SEC very much appreciates the outstanding assistance of the FBI in this matter." 2009-32 Thu, 19 Feb 2009 17:39:36 EST http://www.sec.gov/news/press/2009/2009-31.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that former federal prosecutor Robert Khuzami has been named Director of the Division of Enforcement. 2009-31 Thu, 19 Feb 2009 13:45:13 EST http://www.sec.gov/news/press/2009/2009-30.htm The Securities and Exchange Commission has obtained a court order halting a Ponzi scheme that specifically targeted members of the Deaf community in the United States and Japan. 2009-30 Thu, 19 Feb 2009 10:05:50 EST http://www.sec.gov/news/press/2009/2009-29.htm The Securities and Exchange Commission today filed an enforcement action against UBS AG, charging the firm with acting as an unregistered broker-dealer and investment adviser. 2009-29 Wed, 18 Feb 2009 17:12:20 EST http://www.sec.gov/news/press/2009/2009-28.htm The Securities and Exchange Commission announced today that Andrew N. Vollmer, Acting General Counsel, plans to leave the Commission and return to the private sector. 2009-28 Wed, 18 Feb 2009 17:12:20 EST http://www.sec.gov/news/press/2009/2009-27.htm The Securities and Exchange Commission today charged BlackBerry maker Research in Motion Limited and four of its senior executives for stock option backdating. 2009-27 Tue, 17 Feb 2009 13:42:54 EST http://www.sec.gov/news/press/2009/2009-26.htm The Securities and Exchange Commission today charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion CD program. 2009-26 Tue, 17 Feb 2009 11:55:40 EST http://www.sec.gov/news/press/2009/2009-25.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Kayla J. Gillan has been named Senior Advisor to the Chairman and begins serving in her position today. 2009-25 Tue, 17 Feb 2009 11:39:37 EST http://www.sec.gov/news/press/2009/2009-24.htm The Securities and Exchange Commission today charged George Georgiou of Toronto, Ontario, with manipulating the market in four separate microcap stocks — Avicena Group, Inc., Neutron Enterprises, Inc., Hydrogen Hybrid Technologies, Inc., and Northern Ethanol, Inc. 2009-24 Thu, 12 Feb 2009 15:18:59 EST http://www.sec.gov/news/press/2009/2009-23.htm The Securities and Exchange Commission today announced settlements with KBR, Inc. and Halliburton Co. to resolve SEC charges that KBR subsidiary Kellogg Brown & Root LLC bribed Nigerian government officials over a 10-year period, in violation of the Foreign Corrupt Practices Act (FCPA), in order to obtain construction contracts. The SEC also charged that KBR and Halliburton, KBR's former parent company, engaged in books and records violations and internal controls violations related to the bribery. 2009-23 Wed, 11 Feb 2009 13:33:39 EST http://www.sec.gov/news/press/2009/2009-22.htm The Securities and Exchange Commission announced today that Linda Chatman Thomsen, Director of the Division of Enforcement, plans to return to the private sector. Ms. Thomsen led a historic period of SEC law enforcement during which the Commission brought more than 2,000 enforcement actions and returned billions of dollars to harmed investors. In the past two years, the Commission has brought the second and third-highest number of enforcement actions in agency history. 2009-22 Mon, 09 Feb 2009 13:59:24 EST http://www.sec.gov/news/press/2009/2009-21.htm The Securities and Exchange Commission announced today that it has completed the first in a series of disbursements from a Fair Fund that will return approximately $321 million to more than two million investors who were harmed by undisclosed market timing in the Alliance mutual funds complex. 2009-21 Fri, 06 Feb 2009 14:30:13 EST http://www.sec.gov/news/press/2009/2009-20.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that David M. Becker will return to the agency later this month as its General Counsel and Senior Policy Director. 2009-20 Fri, 06 Feb 2009 12:00:13 EST http://www.sec.gov/news/press/2009/2009-19.htm The Securities and Exchange Commission announced today that Robert B. Malhotra has been named to serve in the SEC's Office of the Chief Accountant (OCA) as a senior advisor. 2009-19 Thu, 05 Feb 2009 15:30:18 EST http://www.sec.gov/news/press/2009/2009-18.htm The Securities and Exchange Commission today charged seven individuals involved in an insider trading ring that generated more than $11.6 million in illegal profits and avoided losses. 2009-18 Thu, 05 Feb 2009 14:26:24 EST http://www.sec.gov/news/press/2009/2009-17.htm The Securities and Exchange Commission today announced a settlement with Wachovia Securities LLC that will provide more than $7 billion in liquidity to thousands of customers who invested in auction rate securities (ARS) before the market for those securities collapsed. 2009-17 Thu, 05 Feb 2009 14:26:24 EST http://www.sec.gov/news/press/2009/2009-16.htm The Securities and Exchange Commission has taken emergency action to stop a massive and ongoing international boiler room scheme that allegedly sold shares of U.S. penny stock issuers to investors located in Europe by misrepresenting that investors paid no sales commissions. 2009-16 Wed, 04 Feb 2009 14:59:34 EST http://www.sec.gov/news/press/2009/2009-15.htm The Securities and Exchange Commission has taken emergency action against a private fund manager in Gilberts, Ill., alleging that he fraudulently obtained at least $10 million from approximately 300 investors and misappropriated the funds for personal use and to pay purported returns to investors. 2009-15 Wed, 04 Feb 2009 14:36:10 EST http://www.sec.gov/news/press/2009/2009-14.htm The Securities and Exchange Commission announced today that Robert L.D. Colby, Deputy Director of the Division of Trading and Markets, will leave the agency in February to join the law firm of Davis Polk and Wardwell in its Washington, D.C. office. 2009-14 Mon, 02 Feb 2009 11:40:27 EST