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News and Alerts

01/29/2015

SEC Charges Stock-Based Lender With Selling Billions of Penny Stock Shares as Unregistered Broker-Dealer

The Securities and Exchange Commission today charged a Chicago-area company that provides stock loans using equities as collateral, its two co-founders, and its former chief operating officer with selling more than nine billion shares of penny stocks through purported stock-based loans, block trades, and other transactions without registering with the SEC as a broker-dealer as required under the federal securities laws. Read more

01/27/2015

SEC Charges Oppenheimer With Securities Law Violations Related to Improper Penny Stock Sales

The Securities and Exchange Commission today charged Oppenheimer & Co. with violating federal securities laws while improperly selling penny stocks in unregistered offerings on behalf of customers. Read more

01/21/2015

SEC Charges Investment Adviser and Manager in South Florida-Based Fraud

The Securities and Exchange Commission today announced fraud charges and an asset freeze against a Fort Lauderdale, Florida-based investment advisory firm, its manager, and three related funds in a scheme that raised more than $17 million since November 2013.Read more

01/21/2015

SEC Charges Investment Adviser and Manager in South Florida-Based Fraud

The Securities and Exchange Commission today announced fraud charges and an asset freeze against a Fort Lauderdale, Florida-based investment advisory firm, its manager, and three related funds in a scheme that raised more than $17 million since November 2013. Read more

01/15/2015

SEC Announces Charges Against Attorneys and Auditors in Microcap Scheme Involving Purported Mining Companies

The Securities and Exchange Commission today announced charges against attorneys, auditors, and others allegedly involved in a microcap scheme the agency stifled last year when it suspended the registration statements of 20 purported mining companies being used for sham offerings of stock to investors.Read more