Category Archives: SEC

Washington D.C., Sept. 23, 2019 — The Securities and Exchange Commission today charged accounting firm PricewaterhouseCoopers LLP with improper professional conduct in connection with 19 engagements on behalf of 15 SEC-registered issuers and violating auditor independence rules in connection with engagements for one issuer where the firm performed prohibited non-audit services. The SEC also charged […]

Litigation Release No. 24606 / September 23, 2019 Accounting and Auditing Release No. 4088 / September 23, 2019 Securities and Exchange Commission v. Carlos Ghosn and Gregory L. Kelly, No. 1:19-civ-08798 (S.D.N.Y. filed September 23, 2019) Washington D.C., Sept. 23, 2019 – The SEC today filed settled fraud charges against Nissan, its former CEO Carlos […]

Washington D.C., Sept. 23, 2019 — The Securities and Exchange Commission today filed settled fraud charges against Nissan, its former CEO Carlos Ghosn, and its former director Greg Kelly related to false financial disclosures that omitted more than $140 million to be paid to Ghosn in retirement. According to the SEC’s orders and complaint, beginning in 2004 Nissan’s […]

The Securities and Exchange Commission has charged Zvi Feiner, a resident of Chicago, Illinois, his company FNR Healthcare, LLC (FNR), and Erez Baver, a former executive at FNR, with operating a fraudulent scheme targeted at investors in the Orthodox Jewish community in Chicago. The SEC’s complaint, filed September 19, 2019 in the U.S. District Court […]

Litigation Release No. 24604 / September 20, 2019 Securities and Exchange Commission v. Earl D. Miller, et a, , 3:15-cv-519-JVB-MGG (N.D. Ind.) filed November 5, 2015 On September 12, 2019, the U.S. District Court for the Northern District of Indiana entered a Final Judgment against defendant Earl Miller in SEC v. Miller, 3:15-cv-519-JVB-MGG (N.D. Ind.), […]

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Alert to warn investors that fraudsters sometimes pose as SEC employees.  Do not send money, or personal information, to anyone claiming to be from the SEC without verifying their identity using the steps described in this Alert.     SEC staff are aware of […]

Sept. 19, 2019 Yesterday the Commission finalized the rollback of the Volcker Rule—the risktaking limits that keep banks from gambling with taxpayer money. These limits are designed to help regulators address a basic problem of incentives: bankers, anticipating taxpayer-funded bailouts, prefer to take excessive risks to maximize their bonuses.[1] That’s why I’ve called upon my […]

Sept. 19, 2019 The Volcker Rule is intended to prevent banks from gambling with taxpayer money.[2] Mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, and adopted in 2013, the rule prohibits proprietary trading and fund investments by taxpayer-backed banks and their affiliates.[3] This is a straightforward and sensible proposition born of both […]

The Securities and Exchange Commission today announced that Florida stock promoter Brian Robert Sodi, and two of his now-defunct companies, Capital Financial Media LLC (CFM) and List Data Solutions LLC (LDS), have agreed to settle charges arising from their roles in scalping and pump-and-dump schemes involving two penny stocks in 2013. The Commission’s complaint, filed […]

Litigation Release No. 24602 / September 19, 2019 Securities and Exchange Commission v. Ruben James Rojas, No. 5:19-civ-01799 (C.D. Cal. filed September 19, 2019) The Securities and Exchange Commission today charged Montebello Unified School District (“Montebello” or the “District”), its former Chief Business Officer, and its Superintendent of Schools with defrauding investors by failing to […]