Securities Law

SEC Policy Director Corey Klemmer to Step Down

January 17, 2025
SEC Policy Director Corey Klemmer to Step Down

The Securities and Exchange Commission today announced that Corey Klemmer will step down from her role as Policy Director, a role she has held since May 2024. She joined the SEC as Corporation Finance Counsel to Chair Gary Gensler in July 2021. “I thank… Full report at: Read More

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SEC Charges Digital Currency Group and Soichiro “Michael” Moro, Former CEO of Genesis Global Capital, for Misleading Investors about Genesis’s Financial Condition

January 17, 2025
SEC Charges Digital Currency Group and Soichiro “Michael” Moro, Former CEO of Genesis Global Capital, for Misleading Investors about Genesis’s Financial Condition

The Securities and Exchange Commission today announced that Digital Currency Group Inc. (DCG), and Soichoro “Michael” Moro, the former CEO of DCG’s now-defunct subsidiary, Genesis Global Capital LLC, will pay a combined $38.5 million in civil penalties… Full report at: Read More

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SEC Charges Paul McCabe and PMAC Consulting with Acting as Unregistered Brokers for Pre-IPO Stocks

January 17, 2025
SEC Charges Paul McCabe and PMAC Consulting with Acting as Unregistered Brokers for Pre-IPO Stocks

The Securities and Exchange Commission today announced that Paul John McCabe Jr. and his unregistered firm PMAC Consulting LLC have agreed to pay $3 million to resolve SEC charges for illegally brokering transactions involving the stock of private… Full report at: Read More

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SEC Charges GrubMarket with Overstating Revenue to Investors by More Than $500 Million

January 17, 2025
SEC Charges GrubMarket with Overstating Revenue to Investors by More Than $500 Million

The Securities and Exchange Commission today announced settled charges against GrubMarket Inc., a private, California-based e-commerce food distributor, for providing investors with financial information that the company should have known was unreliable… Full report at: Read More

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SEC Charges LPL Financial with Anti-Money Laundering Violations

January 17, 2025
SEC Charges LPL Financial with Anti-Money Laundering Violations

The Securities and Exchange Commission today announced charges against broker-dealer and investment adviser LPL Financial LLC for multiple failures related to its anti-money laundering (AML) program. To resolve the SEC’s charges, LPL agreed to pay a… Full report at: Read More

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SEC Charges Two Sigma for Failing to Address Known Vulnerabilities in its Investment Models

January 16, 2025
SEC Charges Two Sigma for Failing to Address Known Vulnerabilities in its Investment Models

The Securities and Exchange Commission today announced settled charges against New York-based investment advisers Two Sigma Investments LP and Two Sigma Advisers LP (collectively, Two Sigma) for breaching their fiduciary duties by failing to reasonably… Full report at: Read More

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SEC Announces Departure of Director of International Affairs YJ Fischer

January 16, 2025
SEC Announces Departure of Director of International Affairs YJ Fischer

The Securities and Exchange Commission today announced that YJ Fischer, the Director of the Office of International Affairs (OIA) since August 2021, will leave her role on Jan. 20, 2025. “I want to thank YJ for her leadership of the Office of… Full report at: Read More

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SEC Charges Four Individuals for Long-Running Scheme to Unlawfully Trade in Advance of Numerous Follow-On Offerings

January 15, 2025
SEC Charges Four Individuals for Long-Running Scheme to Unlawfully Trade in Advance of Numerous Follow-On Offerings

The Securities and Exchange Commission today filed fraud charges against John Lowe, Randy Grewal, Richard Ringel, and David Cooper arising from their longstanding fraudulent scheme to trade in advance of the public announcement of the timing or price, or… Full report at: Read More

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SEC Announces Departure of Chief Economist Jessica Wachter

January 15, 2025
SEC Announces Departure of Chief Economist Jessica Wachter

The Securities and Exchange Commission today announced that Jessica A. Wachter, the Chief Economist and Director of the Division of Economic and Risk Analysis (DERA), will depart the agency on January 17. “I thank Jessica for her leadership of the… Full report at: Read More

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SEC Monitoring Impact of California Wildfires on Capital Markets

January 15, 2025
SEC Monitoring Impact of California Wildfires on Capital Markets

The Securities and Exchange Commission is closely monitoring the impact of the California wildfires on investors and capital markets. The SEC divisions and offices that oversee companies, accountants, investment advisers, mutual funds, brokerage firms,… Full report at: Read More

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