Securities Law

SEC Announces Departure of Acting Enforcement Director Sanjay Wadhwa

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced that Sanjay Wadhwa, the Acting Director of the Division of Enforcement, will depart the agency, effective January 31, 2025, after more than 21 years of service with the Commission. “I thank Sanjay… Full report at: Read More

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SEC Charges Arete Wealth Broker-Dealer and Advisory Firms, Their Chief Compliance Officer, and Several Representatives in Connection With Illegal Securities Offering

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced charges against Joey Miller, Jeff Larson, and Randy Larson, formerly dually registered personnel with Arete Wealth Management LLC, a broker-dealer, and Arete Wealth Advisors LLC, an affiliated… Full report at: Read More

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SEC Announces Record Enforcement Actions Brought in First Quarter of Fiscal Year 2025

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced that, based on its preliminary results, it filed 200 total enforcement actions in the first quarter of fiscal year 2025, which ran from October through December 2024, including 118 standalone… Full report at: Read More

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SEC Announces Departure of Public Affairs Head Scott Schneider

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced the departure of Scott Schneider, a counselor to Chair Gary Gensler and Director of the Office of Public Affairs (OPA), effective next month. Mr. Schneider has served in the role since April 19, 2021… Full report at: Read More

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SEC Policy Director Corey Klemmer to Step Down

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced that Corey Klemmer will step down from her role as Policy Director, a role she has held since May 2024. She joined the SEC as Corporation Finance Counsel to Chair Gary Gensler in July 2021. “I thank… Full report at: Read More

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SEC Charges Digital Currency Group and Soichiro “Michael” Moro, Former CEO of Genesis Global Capital, for Misleading Investors about Genesis’s Financial Condition

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced that Digital Currency Group Inc. (DCG), and Soichoro “Michael” Moro, the former CEO of DCG’s now-defunct subsidiary, Genesis Global Capital LLC, will pay a combined $38.5 million in civil penalties… Full report at: Read More

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SEC Charges Paul McCabe and PMAC Consulting with Acting as Unregistered Brokers for Pre-IPO Stocks

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced that Paul John McCabe Jr. and his unregistered firm PMAC Consulting LLC have agreed to pay $3 million to resolve SEC charges for illegally brokering transactions involving the stock of private… Full report at: Read More

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SEC Charges GrubMarket with Overstating Revenue to Investors by More Than $500 Million

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced settled charges against GrubMarket Inc., a private, California-based e-commerce food distributor, for providing investors with financial information that the company should have known was unreliable… Full report at: Read More

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SEC Charges LPL Financial with Anti-Money Laundering Violations

January 17, 2025
U.S. Capital

The Securities and Exchange Commission today announced charges against broker-dealer and investment adviser LPL Financial LLC for multiple failures related to its anti-money laundering (AML) program. To resolve the SEC’s charges, LPL agreed to pay a… Full report at: Read More

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SEC Charges Two Sigma for Failing to Address Known Vulnerabilities in its Investment Models

January 16, 2025
U.S. Capital

The Securities and Exchange Commission today announced settled charges against New York-based investment advisers Two Sigma Investments LP and Two Sigma Advisers LP (collectively, Two Sigma) for breaching their fiduciary duties by failing to reasonably… Full report at: Read More

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