Stock sale fraud schemes are one of the Commission’s long standing targets. Typically the cases center on the acquisition of a penny stock issuer, the accumulation of large numbers of shares for a few cents each and then the resale … Commission Names 10 as Defendants in Stock Sale Scheme Read More »
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CEO’s Long Term Relation with Executive Results in Injunction
Relationships are often centeral focus. Relationships with family and friends are typically at the center of many matters and events. There are times, however, when relationships can cause issues and even difficulties. In one case recently settled by the Commission, … CEO’s Long Term Relation with Executive Results in Injunction Read More »
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SEC Announces Departure of Enforcement Director Gurbir S. Grewal
The Securities and Exchange Commission today announced that Gurbir S. Grewal, Director of the Division of Enforcement, will depart the agency, effective Oct. 11, 2024. Upon Mr. Grewal’s departure, Sanjay Wadhwa, the Division’s Deputy Director, will serve…
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What You Need To Know From Q3
This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the third quarter of 2024. (See here for a summary post from the first quarter of 2024 and here from the second quarter of 2024).
DOJ Enforcement (Corporate)
The DOJ brought corporate FCPA enforcement action in the third quarter.
SEC Charges Independent Director and Ex-CEO of Church & Dwight With Concealing Close Friendship with Company Executive
The Securities and Exchange Commission today announced settled charges against James R. Craigie, a former CEO, Chairman, and board member of Church & Dwight Co. Inc., for violating proxy disclosure rules by standing for election as an independent…
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TD Securities Charged in Spoofing Scheme
The Securities and Exchange Commission today announced charges against registered broker-dealer TD Securities (USA) LLC for manipulating the U.S. Treasury cash securities market through an illicit trading strategy known as spoofing. The bank was also…
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SEC Charges Three Individuals in the New York Metropolitan Area for Perpetrating a $120 Million Pre-IPO Fraud Scheme
The Securities and Exchange Commission today charged John LoPinto, Robert Wilkos, and Laren Pisciotti for their roles in a fraudulent scheme involving investments in pre-IPO private companies. The SEC also charged several companies owned and/or…
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Advisory Firm Marathon Asset Management Charged with Policies Failures Regarding Potential Receipt of Confidential Information from Ad Hoc Creditors’ Committees
The Securities and Exchange Commission today announced settled charges against registered investment adviser Marathon Asset Management LP for failing to establish, maintain, and enforce written policies and procedures reasonably designed to prevent the…
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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
SEC Charges Olayinka Oyebola and His Accounting Firm With Aiding and Abetting Massive Fraud
The Securities and Exchange Commission today charged Olayinka Oyebola and his Public Company Accounting Oversight Board-registered accounting firm, Olayinka Oyebola & Co. (Chartered Accountants), with aiding and abetting a massive securities fraud…
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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
What If Turkey Had A FEPA-Like Law?
It is sometimes interesting to think about if foreign countries had laws like the U.S. and/or enforced those laws in ways in which the U.S. does.
The U.S. has brought several Foreign Corrupt Practices Act enforcement actions against foreign companies for bribing their own “domestic” officials (for instance an FCPA enforcement action against a Brazil