Items Tagged with 'Securities and Exchange Commission'

ARTICLES

  • Former Colliers real estate broker admits to trying (and failing) to bribe foreign government official

    Joo Hyun Bahn paid off intermediary, who kept money for himself
    A former real estate broker at Colliers International Group admitted that he tried to bribe a foreign government official in order to secure a massive commercial real estate deal, but failed in that effort when the intermediary who was supposed to pass the money to the government official kept it for himself.
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  • NFL player Mychal Kendricks accused of insider trading on News Corp’s acquisition of Move

    Former Browns linebacker admits to getting tips from former Goldman Sachs analyst
    Former Cleveland Browns linebacker Mychal Kendricks admitted Wednesday that he engaged in insider trading when he used privileged information from a former Goldman Sachs analyst to make a profit of nearly $280,000 when News Corp acquired Move back in 2014.
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  • SEC hits Moody’s with $15 million fine over mortgage bond ratings

    Credit ratings agency will also pay $1.25 million for “ratings symbol deficiencies”
    In the wake of the financial crisis, the country’s largest credit ratings agencies all touted new ratings methodologies that were, in theory, designed to guard against the sorts of malfeasance that surrounded mortgage bond ratings in the run-up to the crisis. But it looks like the new mortgage bond rating system at one of the nation’s largest credit ratings agencies was far from perfect.
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  • SEC going after brokers for peddling shares in $1.2 billion real estate Ponzi scheme

    Claims brokers were unlicensed while selling shares in Woodbridge companies
    The Securities and Exchange Commission is already pursuing charges against Robert Shapiro, the founder of the Woodbridge group of companies, for allegedly bilking thousands of investors out of hundreds of millions of dollars via a $1.2 billion real estate Ponzi scheme. And now, the regulator is going after brokers who sold shares in the collapsed group of companies.
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  • Morgan Stanley fined for failing to protect clients

    Agrees to pay SEC $3.6M for weak policies
    Morgan Stanley agreed to pay a $3.6 million fine after regulators determined it failed to detect or prevent the misappropriation of client funds, the U.S. Securities and Exchange Commission said Friday. As part of the agreement, Morgan Stanley did not admit or deny any wrongdoing.
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  • Former Bankrate CFO admits to defrauding shareholders out of $25 million

    Edward DiMaria pleads guilty to accounting and securities fraud
    Bankrate’s former chief financial officer admitted in court this week that he cooked the company’s books over a four-year period in a scheme that eventually cost shareholders more than $25 million. According to the DOJ, Edward DiMaria used his position at Bankrate, a publisher, aggregator, and distributor of personal finance content and lead generator for the financial services industry, to artificially inflate the company’s earnings from 2010 through 2014.
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  • Another former Equifax employee charged with insider trading

    SEC charges former manager for dumping stock before data breach announcement
    On Thursday, the Securities and Exchange Commission announced insider trader charges against a former Equifax manager for dumping stock prior to the company’s announcement of a data breach that exposed the data of more than 143 million American consumers to hackers.
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  • Merrill Lynch ordered to pay $15.7M for cheating customers in mortgage bond trades

    SEC orders company to pay up for misleading customers
    Merrill Lynch will pay $15.7 million to settle allegations that its employees misled mortgage bond customers and overcharged those customers residential mortgage-backed securities trades during a three-year period from 2009 through 2012, the Securities and Exchange Commission announced this week.
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  • Former Equifax executive accused of dumping stock after learning of data breach

    SEC, DOJ charge former CIO Jun Ying with insider trading
    The former chief information officer of Equifax’s U.S. business dumped nearly $1 million in company stock after learning of the massive data breach at the credit reporting agency, but before the breach was disclosed to the public, the Securities and Exchange Commission and Department of Justice said Wednesday.
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