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Selected Press Releases

SEC Charges Canadian Man With Conducting Fraudulent Trading Scheme


The Securities and Exchange Commission today charged a man living in Ontario, Canada, with orchestrating a lucrative market manipulation scheme that relied on “layering” in which a trader places orders solely to trick others into buying or selling U.S. publicly traded stocks at artificially inflated or depressed prices.Read more

SEC Charges Direct Edge Exchanges With Failing to Properly Describe Order Types


The Securities and Exchange Commission today announced that two exchanges formerly owned by Direct Edge Holdings and since acquired by BATS Global Markets have agreed to pay a $14 million penalty to settle charges that their rules failed to accurately describe the order types being used on the exchanges. The penalty is the SEC’s largest against a national securities exchange, and the case is the SEC’s first principally focusing on stock exchange order types. Read more

SEC Charges Staten Island-Based Firm With Operating Boiler Room Scheme Targeting Seniors


The Securities and Exchange Commission today charged a Staten Island, N.Y.-based firm, its former president, and two sales representatives involved in a fraudulent boiler room scheme targeting seniors to invest in speculative start-up companies.Read more

SEC Announces Charges in Alleged Gold Mining Investment Scheme


The Securities and Exchange Commission today announced charges against two individuals and their companies behind an alleged gold mining investment scheme based in Miami.Read more

SEC Charges New Orleans-Based Energy Company and Executives With Fraudulent Stock Manipulation - Houston-Based Attorney Charged With Facilitating Scheme in Gatekeeper Role


The Securities and Exchange Commission today charged a New Orleans-based oil-and-gas company and five executives with running a stock trading scheme in which they claimed to have struck oil in Belize in order to manipulate the price of the company’s stock as they illegally sold restricted shares to the public.Read more