SEC News – Ponzi Scheme, Misleading Customers, Insider Trading

SEC Shuts Down $102 Million Ponzi SchemeThe SEC filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S.Merrill Lynch Admits to Misleading Customers about Trading VenuesMerrill Lynch, Pierce, Fenner & Smith has been charged with misleading customers about how it handled their orders. Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty.Wells Fargo Advisors Settles SEC ChargesWells Fargo Advisors LLC agreed to settle charges of misconduct in the sale of financial products known as market-linked investments, or MLIs, to retail investors.SEC Charges Credit Ratings Analyst and Two Friends with Insider TradingThe SEC charged a credit ratings agency employee with tipping two friends about The Sherwin-Williams Co.’s confidential plans to acquire The Valspar Corp., which he learned of through his work. The SEC also charged the two…

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