Securities and Exchange Commission Chairman Christopher Cox today unveiled the successor to the agency’s 1980s-era EDGAR database, which will give investors far faster and easier access to key financial information about public companies and mutual funds.
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The Securities and Exchange Commission today announced the distribution of nearly $40 million to more than 600,000 investors who were harmed by undisclosed market timing and excessive short-term trading in certain mutual funds managed by Putnam Investment Management, LLC.
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The Securities and Exchange Commission today distributed more than $18 million to more than 325,000 investors who were affected by undisclosed market timing in certain mutual funds managed by Janus Capital Management LLC (JCM).
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The Securities and Exchange Commission’s Division of Enforcement today announced that investors, small businesses, and charities who purchased auction rate securities through Wachovia Securities, LLC and Wachovia Capital Markets, LLC could receive up to $9 billion to fully restore their losses and liquidity through a preliminary settlement that has been reached with Wachovia.
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The Securities and Exchange Commission announced today that it has obtained an emergency court order freezing the profits from an alleged $13 million international fraud involving a Seattle-area microcap company and a Barcelona stock promoter.
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The Securities and Exchange Commission today announced that it has published for public comment an agreement among the securities self-regulatory organizations that is designed to improve detection of insider trading across the equities markets by centralizing surveillance, investigation, and enforcement under NYSE Regulation, Inc. (NYSE Regulation) and the Financial Industry Regulatory Authority, Inc. (FINRA). Currently, each equity exchange is responsible for surveillance of trading on its market and any investigations and enforcement actions involving its members.
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The United States Securities and Exchange Commission today filed charges against Wextrust Capital, LLC (Wextrust), its principals, and four affiliated Wextrust entities, alleging that defendants conducted a massive Ponzi-type scheme from 2005 or earlier that raised approximately $255 million from approximately 1,200 investors. The targets of the fraudulent offerings are primarily members of the Orthodox Jewish community. Simultaneous with the filing of the action, the Commission is seeking emergency relief from the Court to freeze the defendants’ assets and place the Wextrust entities under the control of a receiver to safeguard assets. The Commission is also seeking a temporary restraining order to stop the ongoing offerings and other immediate relief.
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The Securities and Exchange Commission today announced the distribution of more than $48 million to more than 12,000 investors who were victims of fraudulent financial reporting by media conglomerate Vivendi Universal, S.A. Investors receiving checks reside in the United States and in 15 other countries. More than half bought heir Vivendi stock on foreign exchanges and are receiving their Fair Fund distribution in euros.
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The Securities and Exchange Commission’s Division of Enforcement today announced a preliminary settlement in principle with UBS Securities LLC and UBS Financial Services, Inc. (collectively, UBS) including proposed charges and a plan that would restore approximately $22 billion in liquidity to its customers who invested in auction rate securities (ARS).
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The Securities and Exchange Commission has charged six microcap companies, four company officers and several market professionals for their roles in a scheme to raise millions of dollars in capital through improperly registered stocks to fund the companies’ struggling businesses.
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