Sterling Investment Services’ Securities Exchange Commission (SEC) News

  • SEC Announces Agenda for March 9 Investor Advisory Committee Meeting Thursday February 23rd, 2017 08:35:00 PM
    The Securities and Exchange Commission today announced the agenda for the March 9 meeting of its Investor Advisory Committee.  The meeting will commence at 9:30 a.m. in the Multipurpose Room at SEC headquarters at 100 F Street, N.E., Washington, D.C. and is open to the public.  The meeting will be ...

  • SEC Staff Issues Guidance Update and Investor Bulletin on Robo-Advisers Thursday February 23rd, 2017 04:30:00 PM
    The Securities and Exchange Commission today published information and guidance for investors and the financial services industry on the fast-growing use of robo-advisers, which are registered investment advisers that use computer algorithms to provide investment advisory services online with often limited ...

  • SEC to Host Crowdfunding Dialogue February 28 Tuesday February 21st, 2017 04:45:44 PM
    The Securities and Exchange Commission will host a crowdfunding symposium Feb. 28, covering research, challenges, opportunities, and the effects of securities-based crowdfunding on various market participants.The Commission’s Division of Economic and Risk Analysis is partnering with NYU’s Salomon ...

  • SEC, NASAA Sign Info-Sharing Agreement for Crowdfunding and Other Offerings Friday February 17th, 2017 04:45:52 PM
    The Securities and Exchange Commission and the North American Securities Administrators Association today signed an information-sharing agreement as new rules to facilitate intrastate crowdfunding offerings and regional offerings take effect.The agreement signed by the SEC and NASAA is intended to facilitate ...

  • SEC Charges Fuel Cell Company and Officers With Defrauding Investors Tuesday February 14th, 2017 08:45:00 PM
    The Securities and Exchange Commission today charged a California-based penny stock company and four corporate officers with misleading investors about the research, development, and profitability of their purported business to manufacture power generation products such as fuel cells.The SEC alleges ...

  • SEC Announces Cases Related to Disclosures During Battles for Corporate Control Tuesday February 14th, 2017 08:40:00 PM
    The Securities and Exchange Commission today announced two enforcement actions involving disclosure violations that deprived investors of material information during battles for corporate control of publicly traded companies.In one case, the SEC’s order finds that Texas-based oil refinery company CVR ...

  • Purported Real Estate Investment Manager Settles Fraud Charges Tuesday February 14th, 2017 05:35:00 PM
    The Securities and Exchange Commission today announced that a purported real estate investment manager has agreed to pay more than a half-million dollars to settle charges that he pocketed investor money in an investment scheme.The SEC alleges that James P. Toner Jr. of Scottsdale, Ariz., siphoned $51,000 ...

  • Morgan Stanley Settles Charges Related to ETF Investments Tuesday February 14th, 2017 04:40:00 PM
    The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay an $8 million penalty and admit wrongdoing to settle charges related to single inverse ETF investments it recommended to advisory clients.The SEC’s order finds that Morgan Stanley did not adequately ...

  • Brokerage Firm Paying Penalty for Compliance and Trading Surveillance Failures Monday February 13th, 2017 07:40:00 PM
    The Securities and Exchange Commission today announced that a New York-based brokerage firm has agreed to pay a $100,000 penalty to settle charges of compliance and trading surveillance failures.Federal securities laws require firms to enforce policies and procedures to prevent the misuse of material, ...

  • SEC Charges Chinese Citizens Who Reaped Massive Profits From Insider Trading on Comcast-Dreamworks Acquisition Friday February 10th, 2017 07:25:00 PM
    The Securities and Exchange Commission today announced that it obtained an emergency court order freezing brokerage accounts holding more than $29 million in illegal profits from insider trading in advance of the April 2016 acquisition of DreamWorks Animation SKG, Inc. by Comcast Corp.The SEC alleges ...

  • SEC Announces Agenda for February 15 Meeting of the Advisory Committee on Small and Emerging Companies Wednesday February 8th, 2017 07:00:30 PM
    The Securities and Exchange Commission today announced the agenda for the February 15 meeting of its Advisory Committee on Small and Emerging Companies.  The committee will discuss secondary market liquidity for Regulation A companies and reporting companies not listed on an exchange, and explore why ...

  • Private Equity Adviser Barred From Industry for Improper Withdrawal From Funds Tuesday February 7th, 2017 06:05:00 PM
    The Securities and Exchange Commission today announced that a private equity adviser has been permanently barred from the securities industry and must pay a $1.25 million penalty to settle charges that he withdrew improper fees from two private equity funds he managed.The SEC’s order finds that Scott ...

  • SEC Charges Financial Adviser With Stealing From Client Accounts Friday February 3rd, 2017 08:55:00 PM
    The Securities and Exchange Commission today charged an investment adviser representative with stealing approximately $5 million from client accounts by initiating unauthorized wire transfers and issuing checks to third parties to cover personal expenses.The SEC alleges that Barry Connell, who worked ...

  • SEC Charges Investment Adviser With Stealing Investor Funds Thursday February 2nd, 2017 05:10:00 PM
    The Securities and Exchange Commission today charged a Connecticut-based investment advisory business and its owner with stealing money from investors to settle a private lawsuit among other misuses.The SEC alleges that Sentinel Growth Fund Management and its founder Mark J. Varacchi misrepresented to ...

  • Wenchi Hu, Associate Director in the Division of Trading and Markets, to Leave SEC Monday January 30th, 2017 08:56:42 PM
    The Securities and Exchange Commission today announced that Wenchi Hu, an Associate Director in the Division of Trading and Markets, will leave the agency in early February.Ms. Hu has headed the division's Office of Clearance and Settlement Supervision since August 2015, after serving three months as ...

  • OCIE Director Marc Wyatt to Leave SEC Monday January 30th, 2017 07:27:35 PM
    The Securities and Exchange Commission today announced that Marc Wyatt, Director of the Office of Compliance Inspections and Examinations, will leave the agency next month to return to the private sector.Mr. Wyatt joined the SEC in December 2012 as a senior specialized examiner and co-founded the Private ...

  • SEC Announces Charges in Hamilton Ticket Resale Ponzi Scheme Friday January 27th, 2017 08:15:00 PM
    The Securities and Exchange Commission today announced fraud charges against two New York City men accused of running a Ponzi scheme with money raised from investors to fund businesses purportedly created to purchase and resell tickets to such high-demand shows as Adele concerts and the Broadway musical ...

  • Chief Operating Officer Jeffery Heslop to Leave SEC Friday January 27th, 2017 02:56:52 PM
    The Securities and Exchange Commission today announced SEC Chief Operating Officer Jeffery Heslop will leave the agency in February.Mr. Heslop joined the SEC in 2010 when he was named the SEC’s first-ever COO. In the nearly seven years since joining the SEC, Mr. Heslop has led significant innovation ...

  • Citigroup Paying $18 Million for Overbilling Clients Thursday January 26th, 2017 05:10:00 PM
    The Securities and Exchange Commission today announced that Citigroup Global Markets has agreed to pay $18.3 million to settle charges that it overbilled investment advisory clients and misplaced client contracts.The SEC’s order finds that at least 60,000 advisory clients were overcharged approximately ...

  • SEC Charges Two Former Och-Ziff Executives With FCPA Violations Thursday January 26th, 2017 04:00:01 PM
    The Securities and Exchange Commission today charged two former executives at Och-Ziff Capital Management Group with being the driving forces behind a far-reaching bribery scheme that violated the Foreign Corrupt Practices Act (FCPA).Och-Ziff and two other executives previously settled charges against ...

  • Brokerage Firm Charged With Gatekeeper Failures Related to Pump-and-Dump Scheme Wednesday January 25th, 2017 09:40:00 PM
    The Securities and Exchange Commission today announced administrative proceedings against New York-based brokerage firm Windsor Street Capital and its former anti-money laundering officer John D. Telfer.  The SEC’s Enforcement Division alleges that the firm, formerly named Meyers Associates L.P., ...

  • SEC Uncovers Cherry-Picking Scheme, Charges Investment Adviser Behind It Wednesday January 25th, 2017 07:30:00 PM
    The Securities and Exchange Commission today announced that a Massachusetts-based investment adviser agreed to be banned from the securities industry after the agency uncovered an illegal cherry-picking scheme through its data analysis used to detect suspicious trading patterns.The SEC filed fraud charges ...

  • Timothy L. Warren, Associate Director of Enforcement in Chicago Office, to Retire After 30 Years of Service Tuesday January 24th, 2017 08:30:00 PM
    The Securities and Exchange Commission today announced that Timothy L. Warren, Associate Director of Enforcement in the Chicago Regional Office, is retiring at the end of this month after more than 30 years of service.Since his appointment to Associate Director, Mr. Warren has supervised a staff of more ...

  • Morgan Stanley, Citigroup Charged With Misleading Investors About Forex Trading Program Tuesday January 24th, 2017 05:40:00 PM
    The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney and Citigroup Global Markets have agreed to pay more than $2.96 million apiece to settle charges that they made false and misleading statements about a foreign exchange trading program they sold to investors.According ...

  • Shipping Conglomerate and Former CFO Charged With Failure to Recognize Hundreds of Millions in Tax Liabilities Monday January 23rd, 2017 08:45:00 PM
    The Securities and Exchange Commission today charged shipping conglomerate Overseas Shipholding Group (OSG) and its former chief financial officer Myles R. Itkin with failing to recognize hundreds of millions in tax liabilities in its financial statements that had accumulated over nearly 12 years resulting ...


  • Sterling Logo