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News and Alerts

11/20/2012

SEC Sanctions Two Investment Advisers for Impeding Examinations

Washington, D.C., Nov. 20, 2012 — The Securities and Exchange Commission today sanctioned two investment advisory firms for impeding examinations conducted by SEC staff.Read more

11/19/2012

SEC Charges Ring of High School Buddies with Insider Trading in Health Care Stocks

Washington, D.C., Nov. 19, 2012 — The Securities and Exchange Commission today charged three health care company employees and four others in a New Jersey-based insider trading ring of various high school friends generating $1.7 million in illegal profits and kickbacks by trading in advance of 11 public announcements involving mergers, a drug approval application, and quarterly earnings of pharmaceutical companies and medical technology firms.Read more

11/19/2012

SEC Charges New York-Based Fraudster Who Spent Investor Funds on Drugs and Gambling

Washington, D.C., Nov. 19, 2012 — The Securities and Exchange Commission today charged a purported investment adviser in New York with defrauding investors who he convinced to invest in his start-up businesses while in reality he was spending their money on illegal drugs and gambling.Read more

11/19/2012

SEC Halts Prime Bank Scheme in Georgia

Washington, D.C., Nov. 19, 2012 — The Securities and Exchange Commission today charged the operators of a long-running prime bank scheme with defrauding investors who were promised sky-high returns on loans to a secret European trust. It also is seeking an emergency court order to freeze the operators’ assets for the benefit of investors.Read more

11/16/2012

SEC Charges J.P. Morgan and Credit Suisse With Misleading Investors in RMBS Offerings

Washington, D.C., Nov. 16, 2012 — In coordination with the federal-state Residential Mortgage-Backed Securities Working Group, the Securities and Exchange Commission today charged J.P. Morgan Securities LLC and Credit Suisse Securities (USA) with misleading investors in offerings of residential mortgage-backed securities (RMBS). The firms agreed to settlements in which they will pay more than $400 million combined, and the SEC plans to distribute the money to harmed investors.Read more