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Merrill Lynch Paying $10 Million Penalty for Misleading Investors in Structured Notes

The Securities and Exchange Commission today announced that Merrill Lynch has agreed to pay a $10 million penalty to settle charges that it was responsible for misleading statements in offering materials provided to retail investors for structured notes linked to a proprietary volatility index. Read more


SEC Sues UK-Based Trader for Account Intrusion Scheme

The Securities and Exchange Commission today announced it has obtained an emergency court order to freeze the assets of a United Kingdom resident charged with intruding into the online brokerage accounts of U.S. investors to make unauthorized stock trades that allowed him to profit on trades in his own account.Read more


SEC Halts Scheme Defrauding Pro Athletes

The Securities and Exchange Commission today announced that it has obtained a court order freezing the assets of an investment adviser it has charged with secretly siphoning millions of dollars from accounts he managed for professional athletes and investing them in a struggling online sports and entertainment ticket business on whose board he served.Read more


Former CEO of Chicago Charter School Operator Settles Muni-Bond Fraud Charges

The Securities and Exchange Commission today announced a settlement with Juan Rangel, the former President of UNO Charter School Network Inc. and former CEO of United Neighborhood Organization of Chicago, for his role in a misleading $37.5 million bond offering to build three charter schools. Read more


SEC Approves IEX Proposal to Launch National Exchange, Issues Interpretation on Automated Securities Prices - Staff Issues Guidance on Speed Bumps

The Securities and Exchange Commission today approved Investors’ Exchange LLC’s (IEX) application to register as a national securities exchange. At the same time, the Commission issued an updated interpretation that will require trading centers to honor automated securities prices that are subject to a small delay or “speed” bump when being accessed. Read more