Category Archives: SEC

Litigation Release No. 24589 / September 10, 2019 Securities and Exchange Commission v. Strategic Capital Management, LLC and Michael J. Breton, No. 1:17-cv-10125 (D. Mass. filed Jan. 25, 2017) United States v. Michael J. Breton, No. 1:17-cr-10017 (D. Mass.) On September 6, 2019, U.S. District Judge Mark L. Wolf entered a final judgment against Massachusetts […]

Sept. 9, 2019 Jim was a dedicated and respected public servant who left us far too soon. While at the Commission, he was committed to establishing and enforcing accounting and auditing policy as well as improving the professional performance of public company auditors. The strong leadership he demonstrated during his time here should be looked […]

Sept. 9, 2019 Today, the Commission proposed amendments to the national market system (“NMS”) plan governing the consolidated audit trail (“CAT NMS Plan”).  The amendments are designed to bring greater transparency and financial accountability to the development of the consolidated audit trail (“CAT”) by FINRA and the national securities exchanges (collectively, the “SROs”).  A discussion […]

The Securities and Exchange Commission today charged Toon Goggles Inc., a Los Angeles-based company that offers on-demand entertainment content for children, and its founder, Ira Warkol, for conducting a $19 million illegal securities offering. The SEC also charged Warkol for acting as an unregistered broker-dealer in connection with the offering. The SEC’s complaint, filed in […]

Litigation Release No. 24587 / September 5, 2019 U.S. Securities and Exchange Commission v. Keith G. Daubenspeck and Geoffrey L. Homer, No. 19-cv-05939 (N.D. IL filed September 5, 2019) The Securities and Exchange Commission today filed insider trading charges against Chicago residents Keith Daubenspeck and Geoffrey Homer for engaging in illegal insider trading in the […]

Litigation Release No. 24586 / September 5, 2019 Securities and Exchange Commission v. E. Herbert Hafen, Civil Action No. 19-civ-8234 (S.D.N.Y., filed September 4, 2019) On September 4, 2019, the Securities and Exchange Commission charged Connecticut resident E. Herbert Hafen with defrauding multiple retail clients by misappropriating approximately $1.6 million of client assets. In a […]

Sept. 5, 2019 As Prepared for Delivery Good morning. I understand the Committee will be continuing the discussion about our proxy system in today’s telephonic meeting. Last month the Commission issued guidance regarding how an investment adviser’s fiduciary duty and Rule 206(4)-6 under the Advisers Act relate to an adviser’s proxy voting on behalf of […]

The Securities and Exchange Commission today announced fraud charges against two individuals and six entities relating to an ongoing, Nevada-based $29 million sports betting investment scheme impacting over 600 investors from more than 40 states, as well as other charges against three individuals and a company who sold investments. The SEC’s complaint alleges that convicted […]

Litigation Release No. 24584 / September 3, 2019 Securities and Exchange Commission v. Jayat P. Kanetkar and Guaranteed Investigations, Inc, No. 1:19-cv-03915 (N.D. Ga. Filed Aug. 30, 2019) On August 30, 2019, the Securities and Exchange Commission charged a North Brunswick, New Jersey attorney, who is also a former FBI agent, and his company with […]

Investor.gov is the SEC’s website for Main Street investors, designed to help you better understand investing.  Use the informative tools and resources on Investor.gov to make a plan, learn important questions to ask, and get tips to avoid investment fraud.        DO A BACKGROUND CHECK ON YOUR INVESTMENT PROFESSIONAL Are you thinking about using an […]