Securities Law

SEC Proposes Rule to Prohibit Conflicts of Interest in Certain Securitizations

January 25, 2023

The Securities and Exchange Commission today proposed a rule to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. The rule is intended to prevent the sale of asset-backed securities (ABS) that… Full report at: Read More

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SEC Issues $28 Million Award to Joint Whistleblowers

January 24, 2023

The Securities and Exchange Commission today announced an award of more than $28 million to joint whistleblowers who provided critical information and assistance in an SEC enforcement action. The joint whistleblowers’ detailed information prompted the… Full report at: Read More

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Fee Rate Advisory #2 For Fiscal Year 2023

January 23, 2023

The Securities and Exchange Commission today announced that, starting on February 27, 2023, the fee rates applicable to most securities transactions will be set at $8.00 per million dollars.  Consequently, each self-regulatory organization will… Full report at: Read More

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Bloomberg to Pay $5 Million for Misleading Disclosures About Its Valuation Methodologies for Fixed Income Securities

January 23, 2023

The Securities and Exchange Commission today announced settled charges against Bloomberg Finance L.P. (Bloomberg) for misleading disclosures relating to its paid subscription service, BVAL, which provides daily price valuations for fixed-income… Full report at: Read More

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SEC Charges Avraham Eisenberg with Manipulating Mango Markets’ “Governance Token” to Steal $116 Million of Crypto Assets

January 20, 2023

The Securities and Exchange Commission today charged Avraham Eisenberg with orchestrating an attack on a crypto asset trading platform, Mango Markets, by manipulating the MNGO token, a so-called governance token that was offered and sold as a security.… Full report at: Read More

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SEC Seeks Candidates for Small Business Capital Formation Advisory Committee

January 20, 2023

The Securities and Exchange Commission is seeking candidates for appointment to the Small Business Capital Formation Advisory Committee to provide advice and recommendations on Commission rules, regulations, and policy matters relating to small… Full report at: Read More

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Nexo Agrees to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Product

January 19, 2023

The Securities and Exchange Commission today charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP). To settle the SEC’s charges, Nexo agreed to pay a $22.5… Full report at: Read More

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SEC Awards Approximately $18 Million to Three Whistleblowers

January 19, 2023

The Securities and Exchange Commission today announced three awards totaling approximately $18 million to three whistleblowers whose information and assistance led to a successful enforcement action. The first whistleblower provided the SEC with… Full report at: Read More

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SEC Announces Departure of Renee Jones; Erik Gerding Named Director of Division of Corporation Finance

January 17, 2023

The Securities and Exchange Commission today announced that Renee Jones, Director of the Division of Corporation Finance, will depart the agency to return to her faculty position at Boston College Law School, effective Feb. 3, 2023. Erik Gerding,… Full report at: Read More

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SEC Charges Former BlackRock Portfolio Manager with Undisclosed Conflict of Interest

January 5, 2023

The Securities and Exchange Commission today charged Randy Robertson, a former BlackRock Advisors, LLC portfolio manager, for failing to disclose a conflict of interest arising from his relationship with a film distribution company in which the fund he… Full report at: Read More

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