Federal Securities Law Source

Tag Archives: Enforcement

Take charge of compliance: Ensure your business meets Federal Corporate Transparency Act reporting requirements

The United States Capitol stands against a sunset.In 2021, Congress passed the Corporate Transparency Act (CTA) which will require many companies to report information about the company and its beneficial owner(s) to the U.S. Department of Treasury‚Äôs Financial Crimes Enforcement Network (FinCEN). Regulations implementing the CTA became effective Jan. 1, 2024. Attorney Jack Beeler explains the new regulations and what businesses need … Continue Reading

This Week in SEC Enforcement Activity

State of Illinois Charged With Misleading Muni Bond Investors The SEC charged the state of Illinois with failing to inform municipal bond investors of potential issues with its pension funding plan. The state failed to disclose that its pension obligations were at risk of “structural underfunding” issues associated with the state’s statutory funding plan, and misrepresented … Continue Reading

SEC Enforcement Activity: March 4-8

Mark Cuban Insider Trading Case Set For Trial Mark Cuban, the charismatic owner of the NBA’s Dallas Mavericks, lost his attempt to dismiss the SEC’s insider trading case against him, sending it to trial. The district court judge in Dallas said the ruling was “in some respects a close one.” Mr. Cuban is charged in connection with … Continue Reading

SEC Enforcement Activity: Feb. 11- 15

Second Circuit Hears Oral Argument on SEC-Citigroup Settlement Last November, a federal judge in New York rejected a proposed settlement between the SEC and Citigroup in connection with charges of misleading investors at the beginning of the financial crisis. This week the Second Circuit Court of Appeals heard oral arguments in the case, which saw the … Continue Reading

SEC Enforcement Activity: Jan. 14-18

SEC Settles with Pond Securities In Market Manipulation Case Four defendants – Andreas Badian, Jeffrey Graham, Pond Securities, and Ezra Birnbaum – agreed to settle charges of market manipulation, the SEC announced this week. In a complaint filed in April 2006, the SEC alleged that the defendants manipulated the stock of Sedona Corporation and violated record-keeping … Continue Reading

SEC Enforcement Activity: Dec. 24-28

Following the short holiday week, below are notable developments in SEC enforcement activity for the week of Dec. 24-28.  Insider Trading: One More Charged for IBM-SPSS Merger Scheme The SEC has charged another broker for taking part in an insider trading scheme connected to IBM’s acquisition of SPSS. Trent Martin learned of the impending merger from an … Continue Reading

SEC Enforcement Activity Round-Up

Below are notable developments in SEC enforcement activity for the week of December 3-7, 2012. Big Lots CEO Resigns Amidst SEC Inquiry The CEO of Central Ohio-based Big Lots (NYSE: BIG) is under scrutiny by the SEC surrounding his sale of over $10 million in company stock prior to a negative quarterly earnings report. Big Lots … Continue Reading

SEC Enforcement Activity Round-Up

Below are updates on notable SEC enforcement activity from the week of November 26-30, 2012: “White-Out” Firm Found Guilty Jeffrey Liskov and his firm, EagleEye Asset Management, LLC were found guilty of securities fraud by a jury in Boston. The Plymouth, MA firm was found guilty of misleading investors by misrepresenting the risks associated with investments … Continue Reading
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