Category Archives: SEC

Washington D.C., Sept. 19, 2019 — The Securities and Exchange Commission today announced that it took a significant step toward establishing the regulatory regime for security-based swap dealers by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). These actions establish […]

Litigation Release No. 24601 / September 19, 2019 Securities and Exchange Commission v. ICOBox and Nikolay Evdokimov, No. 19-cv-08066 (C.D. Cal. filed September 18, 2019) The Securities and Exchange Commission sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal $14 million securities offering of ICOBox’s digital tokens and for acting as unregistered brokers […]

SEC Chairman Jay Clayton CFTC Chairman Heath Tarbert FCA Chief Executive Andrew Bailey Sept. 19, 2019 U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton, U.S. Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert , and U.K. Financial Conduct Authority (FCA) Chief Executive Andrew Bailey issued the following update to the June 24 joint statement regarding […]

Sept. 18, 2019 Today, the Commission joined the OCC, FDIC and CFTC in adopting amendments to the rules under section 13 of the Bank Holding Company Act, commonly known as the “Volcker Rule.”[1]  The Volcker Rule is an important prudential component of the Dodd-Frank Act.  It is intended to restrict high-risk, speculative trading activity by […]

Litigation Release No. 24600 / September 18, 2019 Securities and Exchange Commission v. Mediatrix Capital Inc., et al., No. 1:19-cv-02594-RM (D. Colo. filed September 12, 2019) The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and asset freeze against three individuals and three entities […]

Washington D.C., Sept. 18, 2019 — The Securities and Exchange Commission today sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal $14 million securities offering of ICOBox’s digital tokens and for acting as unregistered brokers for other digital asset offerings.  According to the SEC’s complaint, ICOBox raised funds in 2017 to develop a […]

Washington D.C., Sept. 18, 2019 — The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and asset freeze against three individuals and three entities in connection with an alleged fraudulent, ongoing international trading program that has placed at risk more than $125 million of investor funds. […]

Washington D.C., Sept. 17, 2019 — The Securities and Exchange Commission today announced that it has proposed rules to update the statistical disclosures that bank and savings and loan registrants provide to investors, and eliminate disclosures that overlap with Commission rules, U.S. GAAP or IFRS.  The proposed rules would replace Industry Guide 3, Statistical Disclosure […]

The Securities and Exchange Commission today announced fraud charges against Tom Simeo, the former Chairman and Chief Executive Officer of Viking Energy Group, Inc., for making materially misleading disclosures in Viking’s publicly filed reports regarding Viking’s purported Chief Financial Officer. The SEC alleges that Tom Simeo, a resident of New York City, New York, created […]

Washington D.C., Sept. 17, 2019 — The Securities and Exchange Commission today instituted a settled order against three Raymond James entities for improperly charging advisory fees on inactive retail client accounts and charging excess commissions for brokerage customer investments in certain unit investment trusts (UITs). The SEC order finds that Raymond James & Associates, Inc., […]