Securities and Exchange Commission Related Content

FASB to Address Standard-Setting Issues During COVID-19 Pandemic

The Financial Accounting Standards Board will discuss plans to support stakeholders as they navigate the impact of the pandemic at its April meeting. read more

SEC Votes to Modernize Disclosures Under Regulation S-K

The SEC voted to propose rule amendments to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make under Regulation S-K. read more

SEC Staff to Hold Fintech Forum on DLT & Digital Assets

The staff of the Securities and Exchange Commission will host a public forum focusing on distributed ledger technology (DLT) and digital assets on May 31, 2019. read more

JPMorgan to Pay $135MM+ to Settle SEC Charges

The Securities and Exchange Commission announced that JPMorgan Chase Bank will pay more than $135 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). read more

SEC Charges Citigroup for Dark Pool Misrepresentations

The Securities and Exchange Commission entered an order finding that Citigroup Global Markets misled users of a dark pool operated by one of its affiliates. read more

SEC Charges Moody’s With Control Failures, Ratings Deficiencies

The Securities and Exchange Commission announced Moody’s Investors Service agreed to pay a total of $16.25 million in penalties to settle charges involving internal control failures and failing to clearly define and consistently apply credit rating symbols. This marks the first time the SEC has filed an enforcement action involving rating symbol deficiencies. read more

Wells Fargo Settles Charges for Improper Sales of MLIs

The SEC announced Wells Fargo Advisors agreed to settle charges of misconduct in the sale of financial products known as market-linked investments to retail investors. read more

SEC Files Compliant Against Failing Equipment Leasing Company

The SEC filed a complaint against Ralph T. Iannelli and his leasing company, Essex Capital, for making false and misleading statements to induce investors to buy promissory notes carrying high interest rates. read more

Yahoo to Pay $35MM for Failure to Disclose Cybersecurity Breach

The SEC announced the entity formerly known as Yahoo has agreed to pay a $35 million penalty to settle charges that it failed to disclose on the world’s largest data breaches. read more

NYSE to Pay $14 Million Penalty for Multiple Violations

The SEC charged the New York Stock Exchange and two affiliated exchanges with regulatory failures. In a settlement, the exchanges agreed to pay a $14 million penalty. read more

Six CPAs Charged With Scheme to Improve Inspection Results for KPMG

The SEC charged six CPAs with using leaked confidential Public Company Accounting Oversight Board data in scheme to improve inspection results for KPMG. read more

Wells Fargo Advisors to Pay $3.5MM to Settle SAR Violations

According to a SEC filing, Wells Fargo Advisors was censured and agreed to pay $3.5 million to settle allegations it failed to file suspicious activity reports for transactions suspected to be linked to money laundering. read more

SEC Announces Enforcement Initiatives to Combat Cyber Threats

The SEC announced two new initiatives that will build on its Enforcement Division’s ongoing efforts to address cyber-based threats and protect retail investors. read more

Merrill Lynch to Pay $415MM for Misusing Customer Cash

The SEC said Merrill Lynch agreed to pay $415 million and admit wrongdoing to settle charges it misused customer cash to generate profits for the firm and failed to safeguard customer securities from the claims of its creditors. read more

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