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Selected Press Releases

SEC Charges ITG With Operating Secret Trading Desk and Misusing Dark Pool Subscriber Trading Information


The Securities and Exchange Commission today announced that ITG Inc. and its affiliate AlterNet Securities have agreed to pay $20.3 million to settle charges that they operated a secret trading desk and misused the confidential trading information of dark pool subscribers.Read more

SEC Charges 32 Defendants in Scheme to Trade on Hacked News Releases - Hackers, Traders Allegedly Reaped More Than $100 Million of Illegal Profits


The Securities and Exchange Commission today announced fraud charges against 32 defendants for taking part in a scheme to profit from stolen nonpublic information about corporate earnings announcements. Those charged include two Ukrainian men who allegedly hacked into newswire services to obtain the information and 30 other defendants in and outside the U.S. who allegedly traded on it, generating more than $100 million in illegal profits. Read more

Guggenheim Partners Investment Management LLC Settles Charges it Failed to Disclose Conflict to Clients


The Securities and Exchange Commission today announced that Guggenheim Partners Investment Management LLC has agreed to settle charges it breached its fiduciary duty by failing to disclose a $50 million loan that one of its senior executives received from an advisory client. Read more

SEC Adopts Rule for Pay Ratio Disclosure - Rule Implements Dodd-Frank Mandate While Providing Companies with Flexibility to Calculate Pay Ratio


The Securities and Exchange Commission today adopted a final rule that requires a public company to disclose the ratio of the compensation of its chief executive officer (CEO) to the median compensation of its employees. The new rule, mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, provides companies with flexibility in calculating this pay ratio, and helps inform shareholders when voting on “say on pay.” Read more

SEC Charges Houston-Area Businessman in Ponzi Scheme


The Securities and Exchange Commission today charged a Houston-area businessman with operating a $114 million Ponzi scheme that defrauded investors, some of whom were told that their money would fund technology to prevent accidents caused by drowsy driving.Read more