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Category Archives: Securities and Exchange Commission
The Tesla whistleblower scandal intensified Wednesday with reports that Martin Tripp's counsel, Meissner and Associates, had filed a claim on his behalf with the Securities and Exchange Commission. Other news outlets have done an excellent job of reporting on Tripp's accusations, but my focus is on the potential downside for Tesla shares from an SEC investigation.
On June 28, 2018, the U.S. Securities and Exchange Commission proposed amendments to the rules governing its whistleblower program. Press Release, SEC Proposes Whistleblower Rule Amendments , No.
Monroe resident Edward J. DiMaria pleaded guilty in June 2018 to a "cookie jar" scheme in which he cooked the books of Bankrate while chief financial officer to boost the financial information website's earnings, resulting in investors losing $25 million. less Monroe resident Edward J. DiMaria pleaded guilty in June 2018 to a "cookie jar" scheme in which he cooked the books of Bankrate while chief financial officer to boost the financial information website's ... more Monroe resident Edward J. DiMaria pleaded guilty to a "cookie jar" scheme in which he cooked the books of Bankrate while chief financial officer to boost the financial information website's earnings, resulting in investors losing $25 million.
The Securities and Exchange Commission has charged James Hocker, a Bellefonte, Penn., insurance agent, with engaging in a Ponzi scheme that targeted unsophisticated retail investors. After selling insurance policies, according to the SEC's complaint, Mr. Hocker encouraged his clients to invest with him by promising guaranteed returns of between 10% and 30% from investments he would make on their behalf.
In May, the Revolving Door Project and over 30 other organizations urged Senate Democrats to push for strong progressives for the leadership positions at key financial agencies allocated to Democrats. Democrats now have a chance to demonstrate that they have become the party of the people by whom they choose for open leadership positions at the Securities and Exchange Commission and the Federal Deposit Insurance Corporation .
PNC Financial Services Group Inc. lessened its stake in iShares Barclays 7-10 Year Trasry Bnd Fd by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,389 shares of the exchange traded fund's stock after selling 28,268 shares during the quarter.
Trump's pick to lead the Consumer Financial Protection Bureau says he wants to give it the credibility of the SEC. One of the first things Mick Mulvaney did last year after President Trump asked him to be acting director of the protect consumers from the abuses of the financial industry and is one of the Democratic Party's proudest recent achievements.
Republicans finally managed to roll back some of the Wall Street regulations passed by Congress in the wake of the 2008 financial crisis after years of trying. While it wasn't a full repeal as some had hoped, it's the first legislative overhaul since the Dodd-Frank Act became law in 2010.
American Asset Management Inc. lessened its holdings in Ishares Lehman 20 Year by 95.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission . The fund owned 18,914 shares of the exchange traded fund's stock after selling 425,396 shares during the quarter.
Millennium Management LLC trimmed its holdings in shares of Engility by 63.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission . The firm owned 66,205 shares of the aerospace company's stock after selling 115,801 shares during the period.
An upcoming Supreme Court decision in a case most Americans have never heard of, and even lawyers will find obscure, could offer a clue about how the justices would react to President Trump firing Special Counsel Robert Mueller. Technically, the case of Raymond J. Lucia v.
President Trump says he has the power to fire special counsel Robert S. Mueller III, who is leading the Russia investigation. President Trump says he has the power to fire special counsel Robert S. Mueller III, who is leading the Russia investigation.
The fiduciary rule may be taken off the books as a result of the ruling, and an SEC fiduciary standard wouldn't cover products not registered as securities Indexed annuities - and the intermediaries that sell them - appear to be the biggest benefactors of an appellate court's decision last week to vacate the Department of Labor fiduciary rule. While observers are divided on the ruling's implications, a consensus seems to be growing that the fiduciary rule would be erased nationwide if the DOL doesn't appeal - a potential outcome given the Trump administration's deregulatory agenda.
A harrowing journey for the Labor Department's fiduciary rule has become even more treacherous in the last few days, following a decision by the 5th Circuit Court of Appeals to strike down the regulation . Will the DOL appeal the 5th Circuit decision? The agency has until April 30 to request a rehearing of the appeal before the entire 17-judge 5th Circuit.
The United States Supreme Court last week held in Digital Realty Trust, Inc. v. Somers that when a whistleblower reports suspected violations of securities laws internally, but not to the Securities and Exchange Commission , the whistleblower is not entitled to the protections of the Dodd-Frank Act's anti-retaliation provisions.
Yesterday, in a unanimous decision, the U.S. Supreme Court declined to broaden the definition of "whistleblower" in federal anti-retaliation law, ruling that employees who simply raise complaints with their employers are not protected by the Dodd-Frank Act despite regulations which sought to provide additional protections. This is a positive decision for employers because it significantly limits the type of reports protected by the Act, while decreasing the likelihood that you could face liability for discharging an employee .
Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters. Bipartisan momentum is growing in the Senate and House of Representatives for action to address the risks posed by virtual currencies to investors and the financial system, they said.
Apple is cooperating with U.S. government inquiries into its secret slowdown of older iPhones, further complicating its efforts to move past an issue that irked customers whose devices bogged down. The company acknowledged the probes late Tuesday after both The Wall Street Journal and Bloomberg reported the U.S. Justice Department and Securities and Exchange Commission were investigating how investors have been affected by Apple's handling of the situation.
Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of ProShares UltraShort Lehman 20+ Yr by 77.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,358 shares of the exchange traded fund's stock after buying an additional 1,906 shares during the period.
In the first enforcement action initiated by its new "Cyber Unit," the Securities and Exchange Commission on Monday announced it has secured a court order to freeze the assets of individuals behind a "scam" initial coin offering, or ICO. Ben Hancock is a San Francisco-based reporter covering litigation, technology, finance, and the future of law.