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News and Alerts

10/30/2014

SEC and FINRA Warn Investors About Penny Stock Scams Hyping Dormant Shell Companies

The Securities and Exchange Commission’s Office of Investor Education and Advocacy and the Financial Industry Regulatory Authority (FINRA) today issued an alert warning investors that some penny stocks being aggressively promoted as great investment opportunities may in fact be stocks of dormant shell companies with little to no business operations.Read more

10/29/2014

SEC Announces Charges Against Investment Advisory Firm and Top Officials for Custody Rule Violations

The Securities and Exchange Commission today announced charges against an investment advisory firm and three top officials for violating the “custody rule” that requires firms to follow certain procedures when they control or have access to client money or securities.Read more

10/24/2014

SEC Charges New Jersey Man in Insider Trading Case Involving Pharmaceutical Companies

The Securities and Exchange Commission today announced insider trading charges against a New Jersey man who generated nearly $700,000 in illicit profits trading in the securities of two pharmaceutical companies that were about to be acquired. The SEC charged his source of nonpublic information earlier this month.Read more

10/24/2014

SEC Sanctions Florida-Based Auditor for Circumventing Rules

The Securities and Exchange Commission today sanctioned a Florida-based auditor for violating federal laws and regulations requiring lead audit partners to periodically rotate off their audit engagements with a publicly traded company in order to preserve the integrity of the financial reporting process. Read more

10/23/2014

Rengan Rajaratnam Agrees to Settle Insider Trading Charges

The Securities and Exchange Commission today announced that former hedge fund manager Rajarengan “Rengan” Rajaratnam has agreed to pay more than $840,000 and accept securities industry bars in order to settle the agency’s insider trading case against him.Read more