Category Archives: SEC

Washington D.C., Sept. 27, 2019 — The Securities and Exchange Commission today charged Michigan-based automaker FCA US LLC, and its parent company, Fiat Chrysler Automobiles N.V., for misleading investors about the number of new vehicles sold each month to customers in the United States.  FCA US and Fiat Chrysler Automobiles have agreed to pay $40 million […]

Washington D.C., Sept. 27, 2019 — The Securities and Exchange Commission today announced that Herbalife Nutrition Ltd.—a direct selling company with operations in over 90 countries— has agreed to pay $20 million to settle charges that it made false and misleading statements about its China business model in numerous U.S. regulatory filings over a six-year […]

Washington D.C., Sept. 27, 2019 — The Securities and Exchange Commission today announced charges against Pennsylvania-based pharmaceutical company Mylan N.V. for accounting and disclosure failures relating to a Department of Justice (DOJ) probe into whether Mylan overcharged Medicaid by hundreds of millions of dollars for EpiPen, its largest revenue and profit generating product. Mylan agreed to […]

Sept. 27, 2019 This month, the Division of Economic and Risk Analysis celebrated its 10th anniversary. In September 2009, the SEC created the Division of Risk, Strategy and Financial Innovation to better integrate economic analysis, risk assessment and data analytics functions within the SEC. “RiskFin,” as it was known, was subsequently renamed the Division of […]

Washington D.C., Sept. 26, 2019 — The Securities and Exchange Commission today announced that Quad/Graphics Inc., a Wisconsin-based digital and print marketing provider, has agreed to pay nearly $10 million to resolve charges that it violated the Foreign Corrupt Practice Act (FCPA) by engaging in multiple bribery schemes in Peru and China. The SEC’s order […]

Litigation Release No. 24620 / September 26, 2019 Securities and Exchange Commission v. Sean Stewart, et al., No. 1:15-cv-03719 (AT) (S.D.N.Y. filed May 14, 2015) United States v. Sean Stewart, 1:15-cr-287 (S.D.N.Y.) On September 23, 2019, a jury in federal court in Manhattan again returned a guilty verdict against former investment banker, Sean R. Stewart, […]

Washington D.C., Sept. 26, 2019 — The Securities and Exchange Commission Retail Strategy Task Force will host a roundtable on Oct. 3 on combating elder investor fraud. The roundtable will focus on the types of fraudulent and manipulative schemes currently targeting elder investors. The roundtable also will explore views from a broad range of regulators […]

Washington D.C., Sept. 26, 2019 — The Securities and Exchange Commission today charged three foreign individuals, Gil Beserglik, Raz Beserglik and Kai Christian Petersen, with deceiving U.S. investors, including vulnerable retirees, and causing them to lose tens of millions of dollars through fraudulent, online sales of high-risk securities known as binary options. According to the SEC’s […]

Washington D.C., Sept. 26, 2019 — The Securities and Exchange Commission today announced that is has voted to adopt a new rule and form amendments that are designed to modernize the regulation of exchange-traded funds (ETFs), by establishing a clear and consistent framework for the vast majority of ETFs operating today.  The adoption will facilitate […]

Actions Increase Availability of Issuer Information and Modernize the Rule Governing Quotations for Over-the-Counter Securities Washington D.C., Sept. 26, 2019 — The Securities and Exchange Commission today announced that it has voted to propose amendments to Exchange Act Rule 15c2-11, which sets out certain requirements with which a broker-dealer must comply before it can publish […]