The SEC has charged Concord Management LLC of Tarrytown, New York, and its owner and principal, Michael Matlin, for operating as an unregistered investment adviser to their single client, resulting in allegedly avoiding scrutiny and over $80 million in compensation.
The SEC has charged Tilila Walker Sumchai with fraudulently raising over $11.8 million from 1,000 investors in the Tongan American community by falsely promising high returns on their investments through her investment scheme.
The SEC today approved a rule that revises and updates the Regulations under the Privacy Act to allow for electronic methods to verify identity and submit requests.
The SEC has adopted amendments to the Investment Company Act "Names Rule" to help ensure that funds' portfolios align with their names and promote investor protection.
The SEC has charged Mexico-based company Aras Investment Business Group, its CEO Armando Gutierrez Rosas, and four other individuals with fraudulently raising $15 million from over 450 retail investors in the U.S. through a Ponzi scheme and affinity fraud.
The SEC imposed a $6 million penalty against Goldman Sachs & Co. for failing to provide complete and accurate trading information, known as blue sheet data, over a period of ten years.
The SEC charged GTT Communications, Inc. with failing to disclose material information in several Commission filings, and although not imposing a monetary penalty, credited the company for promptly self-reporting and undertaking affirmative remedial measures.