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05/29/2013

SEC Charges Total S.A. for Illegal Payments to Iranian Official

Washington, D.C., May 29, 2013 — The Securities and Exchange Commission today charged France-based oil and gas company Total S.A. with violating the Foreign Corrupt Practices Act (FCPA) by paying $60 million in bribes to intermediaries of an Iranian government official who then exercised his influence to help the company obtain valuable contracts to develop significant oil and gas fields in Iran.Read more

05/29/2013

SEC Charges NASDAQ for Failures During Facebook IPO

Washington, D.C., May 29, 2013 — The Securities and Exchange Commission today charged NASDAQ with securities laws violations resulting from its poor systems and decision-making during the initial public offering (IPO) and secondary market trading of Facebook shares. NASDAQ has agreed to settle the SEC’s charges by paying a $10 million penalty – the largest ever against an exchange.Read more

05/24/2013

SEC Charges Dallas-Based Trader With Front Running

Washington, D.C., May 24, 2013 — The Securities and Exchange Commission today announced fraud charges and an asset freeze against a trader at a Dallas-based investment advisory firm who improperly profited by placing his own trades before executing large block trades for firm clients that had strong potential to increase the stock's price.Read more

05/23/2013

SEC Charges Institutional Shareholder Services in Breach of Clients' Confidential Proxy Voting Information

Washington, D.C., May 23, 2013 — The Securities and Exchange Commission today charged charged Rockville, Md.-based proxy adviser Institutional Shareholder Services (ISS) for failing to safeguard the confidential proxy voting information of clients participating in a number of significant proxy contests.Read more

05/22/2013

SEC Charges City of South Miami with Defrauding Investors About Tax-Exempt Status of Municipal Bonds

Washington, D.C., May 22, 2013 — The Securities and Exchange Commission today charged the City of South Miami, Fla., with defrauding bond investors about the tax-exempt financing eligibility of a mixed-use retail and parking structure being built in its downtown commercial district.Read more