http://www.sec.gov/news/press.shtml The latest press releases from the Securities and Exchange Commission en-us Thu, 2 Jul 2009 00:00:01 EDT Thu, 2 Jul 2009 16:15:16 EDT http://www.sec.gov/news/press/2009/2009-150.htm The Securities and Exchange Commission today announced that Lorin L. Reisner, a former federal prosecutor and current litigation partner at Debevoise & Plimpton LLP, will join the Division of Enforcement as Deputy Director in early August. 2009-150 Thu, 2 Jul 2009 16:15:16 EDT http://www.sec.gov/news/press/2009/2009-149.htm The Securities and Exchange Commission's Office of the Chief Accountant today announced the selection of Jack Krogstad and Nancy Mangold as Academic Accounting Fellows for one-year terms beginning this summer. 2009-149 Thu, 2 Jul 2009 15:31:12 EDT http://www.sec.gov/news/press/2009/2009-148.htm The Securities and Exchange Commission today suspended trading in the securities of Fort Lauderdale-based music production company GenX Corporation amid questions about the accuracy and adequacy of publicly disseminated information appearing in stock promotional materials about the company and its purported relationships with music stars. 2009-148 Thu, 2 Jul 2009 12:20:22 EDT http://www.sec.gov/news/press/2009/2009-147.htm The Securities and Exchange Commission today voted on three measures that are intended to better inform and empower investors to improve corporate governance and help restore investor confidence. 2009-147 Wed, 1 Jul 2009 15:34:22 EDT http://www.sec.gov/news/press/2009/2009-146.htm The Securities and Exchange Commission today charged the former chief accounting officer of Atlanta-based home builder Beazer Homes, USA, Inc., for conducting a multi-year fraudulent earnings management scheme and misleading Beazer's outside auditors and internal Beazer accountants in order to conceal his wrongdoing. 2009-146 Wed, 1 Jul 2009 14:33:05 EDT http://www.sec.gov/news/press/2009/2009-145.htm The Securities and Exchange Commission today instituted an enforcement action against a Poughkeepsie, N.Y.-based firm and several representatives and supervisors for their alleged roles in fraudulent and unsuitable sales of variable annuities to senior citizens who were lured through free-lunch seminars at restaurants in south Florida. 2009-145 Tue, 30 Jun 2009 11:03:42 EDT http://www.sec.gov/news/press/2009/2009-144.htm The Securities and Exchange Commission today charged a Chula Vista, Calif. resident and two entities he controls for operating a Ponzi-like scheme through five hedge funds. 2009-144 Wed, 24 Jun 2009 16:05:07 EDT http://www.sec.gov/news/press/2009/2009-143.htm The Securities and Exchange Commission today charged a money manager who lives in Wayland, Mass., for conducting a multi-million dollar Ponzi scheme in which he promised investors lofty returns as high as 20 percent but instead often stole their money for his personal use. 2009-143 Wed, 24 Jun 2009 16:05:07 EDT http://www.sec.gov/news/press/2009/2009-142.htm The Securities and Exchange Commission today proposed rule amendments designed to significantly strengthen the regulatory framework for money market funds to increase their resilience to economic stresses and reduce the risks of runs on the funds. 2009-142 Wed, 24 Jun 2009 13:53:00 EDT http://www.sec.gov/news/press/2009/2009-141.htm The Securities and Exchange Commission today charged a New York-based broker-dealer and four individuals with securities fraud, alleging that they collectively raised billions of dollars from investors for Bernard L. Madoff's Ponzi scheme. 2009-141 Mon, 22 Jun 2009 13:00:02 EDT http://www.sec.gov/news/press/2009/2009-140.htm The Securities and Exchange Commission today charged two accountants who produced bogus financial statements and an Antiguan regulator who took bribes to look the other way as Robert Allen Stanford conducted an alleged $8 billion Ponzi scheme. 2009-140 Fri, 19 Jun 2009 12:06:27 EDT http://www.sec.gov/news/press/2009/2009-139.htm The Securities and Exchange Commission today charged two Oklahoma City residents with securities fraud and other violations for a scheme in which they misappropriated to themselves millions of dollars from Quest Resource Corporation, Quest Energy Partners, L.P. and their affiliates while they were executives at the company. 2009-139 Wed, 17 Jun 2009 14:52:11 EDT http://www.sec.gov/news/press/2009/2009-137.htm The Securities and Exchange Commission today obtained a court order halting an $11 million Ponzi scheme in which a Chicago-based promoter who is a convicted felon promised investors unusually high returns from purported investments in payday advance stores. 2009-137 Mon, 15 Jun 2009 17:30:55 EDT http://www.sec.gov/news/press/2009/2009-138.htm The Securities and Exchange Commission and the Department of Labor (DOL) today announced the agenda and expected panelists for their June 18 joint hearing about target date funds and other similar investment options. 2009-138 Mon, 15 Jun 2009 17:01:09 EDT http://www.sec.gov/news/press/2009/2009-136.htm The Securities and Exchange Commission today posted information on its Web site for investors in the Reserve Primary Fund, which "broke the buck" last September when its net asset value fell below $1 per share. Since then, the fund has withheld a significant amount of money from investors pending the outcome of numerous lawsuits filed against the fund, its trustees, and other officers and directors of Reserve entities. 2009-136 Mon, 15 Jun 2009 14:55:36 EDT http://www.sec.gov/news/press/2009/2009-135.htm The Securities and Exchange Commission has obtained an emergency court order and asset freeze to shut down a fraudulent prime bank scheme that promised massive returns to investors nationwide and then offered a range of administrative excuses when investors had not received any payments. 2009-135 Fri, 12 Jun 2009 14:13:44 EDT http://www.sec.gov/news/press/2009/2009-134.htm SEC and ASC charge Alabama broker-dealer for rampant churning and extensive supervisory violations. 2009-134 Fri, 12 Jun 2009 10:33:10 EDT http://www.sec.gov/news/press/2009/2009-133.htm Securities and Exchange Commission Mary Schapiro today made the following statement regarding executive compensation. 2009-133 Wed, 10 Jun 2009 14:22:42 EDT http://www.sec.gov/news/press/2009/2009-132.htm The Securities and Exchange Commission today charged an investment adviser who lives in Armonk, N.Y., for orchestrating a scheme in which he stole more than $6 million in investor funds for his own personal use, in some instances victimizing clients who were terminally ill or mentally impaired. 2009-132 Wed, 10 Jun 2009 12:30:36 EDT http://www.sec.gov/news/press/2009/2009-131.htm The Securities and Exchange Commission today charged two California men and two companies they control for conducting an $80 million Ponzi scheme that targeted Korean-American investors with false promises of extraordinarily high returns from foreign currency (forex) trading. 2009-131 Tue, 9 Jun 2009 13:56:50 EDT http://www.sec.gov/news/press/2009/2009-130.htm The Securities and Exchange Commission today charged Boston-based Evergreen Investment Management Company LLC and an affiliate with securities law violations for overstating the value of a mutual fund that invested primarily in mortgage-backed securities, and then only selectively telling shareholders about the fund's valuation problems. 2009-130 Mon, 8 Jun 2009 11:15:21 EDT http://www.sec.gov/news/press/2009/2009-129.htm The Securities and Exchange Commission today charged former Countrywide Financial CEO Angelo Mozilo and two other former executives with securities fraud for deliberately misleading investors about the significant credit risks being taken in efforts to build and maintain the company's market share. Mozilo was additionally charged with insider trading for selling his Countrywide stock based on non-public information for nearly $140 million in profits. 2009-129 Thu, 4 Jun 2009 16:06:15 EDT http://www.sec.gov/news/press/2009/2009-128.htm The U.S. Securities and Exchange Commission's Office of the Chief Accountant announced today the release of Staff Accounting Bulletin (SAB) No. 112. 2009-128 Thu, 4 Jun 2009 13:08:13 EDT http://www.sec.gov/news/press/2009/2009-127.htm The Securities and Exchange Commission today announced finalized settlements with Bank of America, RBC Capital Markets, and Deutsche Bank to resolve SEC charges that the firms misled investors regarding the liquidity risks associated with auction rate securities (ARS) that they underwrote, marketed, or sold. 2009-127 Wed, 3 Jun 2009 14:51:29 EDT http://www.sec.gov/news/press/2009/2009-126.htm Securities and Exchange Commission Chairman Mary Schapiro today announced the formation of an Investor Advisory Committee to give investors a greater voice in the Commission's work. SEC Commissioner Luis A. Aguilar will serve as the Commission's primary sponsor of the Committee. 2009-126 Wed, 3 Jun 2009 13:07:18 EDT http://www.sec.gov/news/press/2009/2009-125.htm The Securities and Exchange Commission Chairman Mary Schapiro today announced the appointment of George S. Canellos as Regional Director of the SEC's New York Regional Office, where he will oversee the enforcement and examination operations. 2009-125 Tue, 2 Jun 2009 13:29:27 EDT http://www.sec.gov/news/press/2009/2009-124.htm The Securities and Exchange Commission today announced the Fair Fund distribution of more than $78 million to more than 590,000 investors who were affected by undisclosed market timing in certain AIM mutual funds. 2009-124 Mon, 1 Jun 2009 15:06:42 EDT http://www.sec.gov/news/press/2009/2009-123.htm The Securities and Exchange Commission today charged 10 brokers with fraud for falsely marketing investments in derivatives of mortgage-backed securities as safe and suitable for retirees and others with conservative investment goals. 2009-123 Thu, 28 May 2009 14:19:25 EDT http://www.sec.gov/news/press/2009/2009-122.htm The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of Texas A&M finance professor Robert D. Watson, Houston lawyer and certified public accountant Daniel J. Petroski, and two firms. 2009-122 Tue, 26 May 2009 12:49:02 EDT http://www.sec.gov/news/press/2009/2009-121.htm Securities and Exchange Commission Chairman Mary Schapiro today outlined a series of measures the agency is taking to strengthen its internal compliance program to guard against inappropriate employee securities trading. 2009-121 Fri, 22 May 2009 16:22:35 EDT http://www.sec.gov/news/press/2009/2009-120.htm The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of an Appleton, Wisc.-based investment adviser charged with engaging in a kickback scheme and other fraudulent conduct involving six unregistered investment pools it managed. 2009-120 Fri, 22 May 2009 11:02:53 EDT http://www.sec.gov/news/press/2009/2009-119.htm The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of an Appleton, Wisc.-based investment adviser charged with engaging in a kickback scheme and other fraudulent conduct involving six unregistered investment pools it managed. 2009-119 Thu, 21 May 2009 15:38:51 EDT http://www.sec.gov/news/press/2009/2009-118.htm The Securities and Exchange Commission today charged a trader from Fort Myers, Fla., with fraud for writing and disseminating a fake press release that, when reported in the media, caused a company's stock price to soar and allowed him to reap thousands of dollars in illicit profits. 2009-118 Thu, 21 May 2009 14:43:23 EDT http://www.sec.gov/news/press/2009/2009-117.htm The Securities and Exchange Commission has charged eight participants in a penny stock manipulation ring that allegedly pumped the market prices of at least four stocks and generated more than $6.2 million in illicit profits when they dumped shares on the market. 2009-117 Thu, 21 May 2009 10:13:39 EDT http://www.sec.gov/news/press/2009/2009-116.htm The Securities and Exchange Commission today voted to propose a comprehensive series of rule amendments to facilitate the rights of shareholders to nominate directors on corporate boards. 2009-116 Wed, 20 May 2009 17:00:25 EDT http://www.sec.gov/news/press/2009/2009-114.htm The Securities and Exchange Commission will conduct a public seminar on June 10, 2009, to help companies and preparers comply with new rules that require financial reports to be filed using interactive data (XBRL). 2009-114 Mon, 18 May 2009 12:31:48 EDT http://www.sec.gov/news/press/2009/2009-113.htm The Securities and Exchange Commission today charged employment search provider Monster Worldwide, Inc. for its multi-year scheme to secretly backdate stock options granted to thousands of Monster officers, directors and employees. Monster agreed to pay a $2.5 million penalty to settle the SEC's charges that the company defrauded investors by granting backdated, undisclosed "in-the-money" stock options while failing to record required non-cash charges for option-related compensation expenses. 2009-113 Mon, 18 May 2009 11:42:00 EDT http://www.sec.gov/news/press/2009/2009-112.htm The Securities and Exchange Commission today announced the start of a $267 million Fair Fund distribution to mutual funds and mutual fund shareholders who were harmed by late trading and market timing that occurred through Bear Stearns, which was charged by the SEC in a 2006 enforcement action. 2009-112 Fri, 15 May 2009 16:46:41 EDT http://www.sec.gov/news/press/2009/2009-111.htm The Securities and Exchange Commission announced today that William Schulz, Director of Legislative and Intergovernmental Affairs, plans to leave the agency to enter the private sector after having served as a key liaison between the Commission and the Congress. 2009-111 Thu, 14 May 2009 17:15:31 EDT http://www.sec.gov/news/press/2009/2009-110.htm The Securities and Exchange Commission today charged two New Jersey men with orchestrating a fraudulent scheme that sold unregistered securities and commingled investor funds with their payroll service used by New Jersey municipalities and small businesses. 2009-110 Thu, 14 May 2009 17:15:31 EDT http://www.sec.gov/news/press/2009/2009-109.htm The Securities and Exchange Commission today proposed rule amendments to substantially increase protections for investors who entrust their money to investment advisers. 2009-109 Thu, 14 May 2009 16:38:15 EDT http://www.sec.gov/news/press/2009/2009-108.htm The Securities and Exchange Commission today charged Julio Ramirez, Jr., who was formerly affiliated with Los Angeles-based broker-dealers DAV/Wetherly Financial L.P. and Park Hill Group LLC, in connection with a multi-million dollar kickback scheme involving New York's largest pension fund. 2009-108 Tue, 12 May 2009 13:06:00 EDT http://www.sec.gov/news/press/2009/2009-107.htm The Securities and Exchange Commission and the Department of Labor will hold a joint one-day hearing on June 18 to explore issues relating to target date or lifecycle funds and other similar investment options. 2009-107 Tue, 12 May 2009 11:19:08 EDT http://www.sec.gov/news/press/2009/2009-106.htm The Securities and Exchange Commission announced today that Michael Lauer, the head of two Connecticut-based hedge fund advisors, has been ordered to pay more than $62 million within 15 days as a result of being found liable on SEC fraud charges last fall. 2009-106 Fri, 08 May 2009 11:02:42 EDT http://www.sec.gov/news/press/2009/2009-105.htm The Securities and Exchange Commission has charged West Palm Beach, Fla.-based INTECH Investment Management LLC and its former chief operating officer David E. Hurley for violating the SEC's proxy voting rule for investment advisers by not sufficiently describing its proxy voting policies and procedures and failing to address a material potential conflict of interest. 2009-105 Fri, 08 May 2009 10:48:40 EDT http://www.sec.gov/news/press/2009/2009-104.htm The Securities and Exchange Commission today filed fraud charges against several entities and individuals who operate the Reserve Primary Fund for failing to provide key material facts to investors and trustees about the fund's vulnerability as Lehman Brothers Holdings, Inc. sought bankruptcy protection. 2009-104 Tue, 05 May 2009 14:12:37 EDT http://www.sec.gov/news/press/2009/2009-103.htm The Securities and Exchange Commission today charged two California-based attorneys as well as a California corporation and its owner for preparing and issuing fraudulent legal opinions involving unregistered stock that enabled promoters and others to sell shares in an illegal pump-and-dump scheme. 2009-103 Tue, 05 May 2009 12:05:13 EDT http://www.sec.gov/news/press/2009/2009-102.htm The Securities and Exchange Commission today charged Renato Negrin, a former portfolio manager at hedge fund investment adviser Millennium Partners L.P., and Jon-Paul Rorech, a salesman at Deutsche Bank Securities Inc., with insider trading in credit default swaps of VNU N.V., an international holding company that owns Nielsen Media and other media businesses. 2009-102 Tue, 05 May 2009 10:18:21 EDT http://www.sec.gov/news/press/2009/2009-101.htm The Securities and Exchange Commission today announced the agenda and panelists for its May 5 roundtable to discuss short sale price tests and short sale circuit breakers. 2009-101 Fri, 01 May 2009 12:34:44 EDT http://www.sec.gov/news/press/2009/2009-100.htm The Securities and Exchange Commission today announced that in fiscal year 2010 the fees that public companies and other issuers pay to register their securities with the Commission will be set at $71.30 per million dollars. In addition, the fees applicable to most securities transactions will be fixed at $12.70 per million dollars. 2009-100 Thu, 30 Apr 2009 16:39:04 EDT http://www.sec.gov/news/press/2009/2009-99.htm The Securities and Exchange Commission today charged a former Citigroup investment banker for repeatedly tipping his brother about upcoming merger deals in an insider trading scheme that involved friends and family throughout Northern California and the Midwest and reaped more than $6 million in illicit profits. 2009-99 Thu, 30 Apr 2009 14:50:37 EDT http://www.sec.gov/news/press/2009/2009-98.htm The Securities and Exchange Commission today announced a new effort to identify and assess risks in the financial markets by attracting seasoned industry professionals to the agency's Office of Risk Assessment. 2009-98 Thu, 30 Apr 2009 12:00:01 EDT http://www.sec.gov/news/press/2009/2009-97.htm The Securities and Exchange Commission today announced charges against Dallas-based Aldus Equity Partners, L.P. and one of its founding principals, Saul Meyer, in connection with a multi-million dollar kickback scheme involving New York's largest pension fund. 2009-97 Thu, 30 Apr 2009 11:14:25 EDT http://www.sec.gov/news/press/2009/2009-96.htm The Securities and Exchange Commission today obtained a court order halting a fraudulent scheme in Beverly Hills, Calif., in which investors were coaxed into investing in two hedge funds that purportedly held more than $800 million in assets when in fact the funds lost money and have less than $1 million in assets. 2009-96 Wed, 29 Apr 2009 16:59:42 EDT http://www.sec.gov/news/press/2009/2009-95.htm The Securities and Exchange Commission's Office of the Chief Accountant (OCA) has selected four professional accounting fellows for two-year terms beginning in 2009. 2009-95 Wed, 29 Apr 2009 15:49:31 EDT http://www.sec.gov/news/press/2009/2009-94.htm The Securities and Exchange Commission today announced the schedule and start of registration for 11 CCOutreach regional seminars for investment adviser and mutual fund Chief Compliance Officers (CCOs) that will be held in several cities around the country during the next few months. 2009-94 Tue, 28 Apr 2009 16:56:26 EDT http://www.sec.gov/news/press/2009/2009-93.htm The Securities and Exchange Commission today charged Tulsa, Okla.-based attorney Matthew J. Browne with insider trading, alleging that he sold all of the stock he owned in a local energy company on the basis of confidential information that he learned while providing legal services to a client. 2009-93 Tue, 28 Apr 2009 15:00:01 EDT http://www.sec.gov/news/press/2009/2009-92.htm The Securities and Exchange Commission today charged two former executives at American Home Mortgage Investment Corporation for engaging in accounting fraud and making false and misleading disclosures to conceal from investors the company's worsening financial condition in early 2007 as the subprime crisis emerged. 2009-92 Tue, 28 Apr 2009 12:48:08 EDT http://www.sec.gov/news/press/2009/2009-91.htm Securities and Exchange Commission Chairman Mary Schapiro today named James Brigagliano and Daniel M. Gallagher as Co-Acting Directors of the SEC's Division of Trading and Markets, replacing Erik R. Sirri, who left the agency on April 24. 2009-91 Mon, 27 Apr 2009 17:45:11 EDT http://www.sec.gov/news/press/2009/2009-90.htm The Securities and Exchange Commission today obtained an emergency court order to freeze the assets of a Connecticut-based money manager and the hedge funds that he controls, alleging that he forged documents, promised false returns, and misrepresented assets managed by the funds to illicitly raise more than $30 million from investors. 2009-90 Mon, 27 Apr 2009 17:45:11 EDT http://www.sec.gov/news/press/2009/2009-89.htm The Securities and Exchange Commission has obtained an emergency court order freezing the assets of Newport Beach, Calif.-based financier Danny Pang and his two companies for allegedly defrauding investors of hundreds of millions of dollars by misrepresenting investments in the life insurance policies of senior citizens and in timeshare real estate. The SEC obtained additional relief against Pang including an order requiring him to repatriate assets sent overseas and turn over to the court all of his passports. 2009-89 Mon, 27 Apr 2009 17:45:11 EDT http://www.sec.gov/news/press/2009/2009-88.htm The Securities and Exchange Commission will hold a roundtable on May 5 beginning at 10 a.m. ET to further discuss whether short sale price test restrictions or short sale circuit breakers should be adopted. 2009-88 Fri, 24 Apr 2009 10:00:00 EDT http://www.sec.gov/news/press/2009/2009-87.htm The Securities and Exchange Commission has obtained an emergency asset freeze and the appointment of a receiver over a Naples, Fla.-based investment adviser that has been charged with defrauding investors by misrepresenting the nature of $550 million in investments. The receivership and asset freeze also extend to the funds managed by the investment adviser. 2009-87 Thu, 23 Apr 2009 15:07:30 EDT http://www.sec.gov/news/press/2009/2009-86.htm The Securities and Exchange Commission today charged New York-based investment adviser Hennessee Group LLC and its principal Charles J. Gradante with securities law violations for failing to perform their advertised review and analysis before recommending that their clients invest in the Bayou hedge funds that were later discovered to be a fraud. 2009-86 Wed, 22 Apr 2009 13:02:55 EDT http://www.sec.gov/news/press/2009/2009-85.htm The Securities and Exchange Commission has charged a Philadelphia-area investment adviser and its principal with misappropriating millions of dollars in client assets, and obtained an emergency court order freezing their assets. 2009-85 Mon, 20 Apr 2009 10:35:14 EDT http://www.sec.gov/news/press/2009/2009-84.htm The Securities and Exchange Commission announced today that it has reopened the public comment period on a proposal for a model privacy form that financial institutions could use to provide disclosures required by the Gramm-Leach-Bliley Act. 2009-84 Wed, 15 Apr 2009 13:00:25 EDT http://www.sec.gov/news/press/2009/2009-83.htm The Securities and Exchange Commission today charged a former New York state political party leader and a former hedge fund manager in connection with a multi-million dollar kickback scheme involving New York's largest pension fund. 2009-83 Wed, 15 Apr 2009 11:12:02 EDT http://www.sec.gov/news/press/2009/2009-82.htm The Securities and Exchange Commission's Office of the Chief Accountant and Division of Corporation Finance today announced the release of Staff Accounting Bulletin (SAB) No. 111. 2009-82 Tue, 14 Apr 2009 16:43:45 EDT http://www.sec.gov/news/press/2009/2009-81.htm Investors who were defrauded by schemes involving Concorde America, Inc. and Absolute Health and Fitness, Inc. will be receiving all of their money back due to the efforts of the Securities and Exchange Commission. 2009-81 Tue, 14 Apr 2009 15:02:04 EDT http://www.sec.gov/news/press/2009/2009-80.htm The Securities and Exchange Commission today charged seven leading members of a church in Queens, N.Y. for orchestrating a fraudulent investment scheme that targeted mostly elderly parishioners. The seven individuals defrauded investors of more than $12 million by making numerous misrepresentations, including promises of returns as high as 75 percent, to encourage them to invest in two hedge funds — the Logos Fund and the Donum Fund. Instead of investing the money as promised, the defendants misappropriated millions of dollars to furnish their own lavish lifestyles with purchases of luxury cars, jewelry, clothing, meals, and expensive foreign travel. 2009-80 Tue, 14 Apr 2009 11:22:48 EDT http://www.sec.gov/news/press/2009/2009-79.htm The Securities and Exchange Commission today charged an El Segundo, Calif.-based promoter and her firm for operating a $23 million Ponzi scheme that purported to use investor funds to invest in risk-free, high-yield investment programs involving bank trading, oil and gold exploration, or real estate. 2009-79 Mon, 13 Apr 2009 17:26:29 EDT http://www.sec.gov/news/press/2009/2009-78.htm Securities and Exchange Commission Chairman Mary L. Schapiro today announced that former SEC official Meredith B. Cross will return to the agency as its new Director of the Division of Corporation Finance. 2009-78 Mon, 13 Apr 2009 16:31:51 EDT http://www.sec.gov/news/press/2009/2009-77.htm The Securities and Exchange Commission today charged a Marietta, Ga.-based attorney for operating a Ponzi scheme that sold promissory notes to raise funds that were purportedly invested in real estate transactions, including private mortgages. 2009-77 Thu, 09 Apr 2009 14:11:16 EDT http://www.sec.gov/news/press/2009/2009-76.htm The Securities and Exchange Commission today voted unanimously to seek public comment on whether short sale price restrictions or circuit breaker restrictions should be imposed and whether such measures would help promote market stability and restore investor confidence. In June 2007, the SEC voted to eliminate price restrictions. 2009-76 Wed, 08 Apr 2009 14:10:23 EDT http://www.sec.gov/news/press/2009/2009-75.htm The Securities and Exchange Commission has charged a Denver-based investment manager and his firm for conducting a multi-million dollar Ponzi scheme through the sale of shares in investment funds that he manages. The SEC also charged the limited liability companies that issued the securities. The SEC is seeking an emergency court order to freeze all of their assets. 2009-75 Wed, 08 Apr 2009 12:07:20 EDT http://www.sec.gov/news/press/2009/2009-74.htm The Securities and Exchange Commission has obtained an asset freeze to halt a multi-million dollar Ponzi scheme and affinity fraud targeting members of the Chinese-American community, primarily in the Dallas area. 2009-74 Mon, 06 Apr 2009 12:23:48 EDT http://www.sec.gov/news/press/2009/2009-73.htm The Securities and Exchange Commission today halted a multi-million dollar Ponzi scheme and froze the assets of the Long Island-based investment adviser operating it. 2009-73 Wed, 01 Apr 2009 15:52:10 EDT http://www.sec.gov/news/press/2009/2009-72.htm The Securities and Exchange Commission today charged video and computer game publisher and distributor Take-Two Interactive Software, Inc. for falsifying its reported income over a seven-year period. Take-Two agreed to pay a $3 million penalty to settle the SEC's charges that the company defrauded investors by granting backdated, undisclosed "in-the-money" stock options to officers, directors, and key employees while failing to record required non-cash charges for option-related compensation expenses. The SEC previously charged Take Two's former Chief Executive Officer and Chairman Ryan Brant for his alleged role as the architect of the fraudulent options backdating scheme. 2009-72 Wed, 01 Apr 2009 12:03:09 EDT http://www.sec.gov/news/press/2009/2009-71.htm The Securities and Exchange Commission today charged John H. Min of Tacoma, Wash., and his company Dime Financial Group LLC for raising more than $6 million in a fraudulent investment scheme that targeted churches, church members and senior citizens. The SEC alleges that Min misled some investors into believing their money would support Third World charitable causes while in fact spending the funds on his own lavish lifestyle and on failed high-risk investments. 2009-71 Tue, 31 Mar 2009 15:05:01 EDT http://www.sec.gov/news/press/2009/2009-70.htm The Securities and Exchange Commission announced today that Erik R. Sirri, Director of the SEC's Division of Trading and Markets, plans to leave the agency at the end of April and return to academia. 2009-70 Tue, 31 Mar 2009 12:04:39 EDT http://www.sec.gov/news/press/2009/2009-69.htm The Securities and Exchange Commission today announced the distribution of the $60 million Fair Fund created as part of a settled SEC enforcement action against MBIA Inc. in 2007. 2009-69 Fri, 27 Mar 2009 14:36:02 EDT http://www.sec.gov/news/press/2009/2009-68.htm The Securities and Exchange Commission has obtained an emergency court order halting a $68 million Ponzi scheme involving the sale of fictitious high-yield certificates of deposit (CDs) by Caribbean-based Millennium Bank. 2009-68 Thu, 26 Mar 2009 13:18:55 EDT http://www.sec.gov/news/press/2009/2009-67.htm The Securities and Exchange Commission has obtained an emergency court order freezing the assets of a Chicago-area investment adviser and two of its principals who are alleged to have misappropriated more than $4 million in client assets by transferring them to third parties, and incorrectly reported the net asset and other investment values to investors. 2009-67 Wed, 25 Mar 2009 16:02:43 EDT http://www.sec.gov/news/press/2009/2009-66.htm The Securities and Exchange Commission announced today that the child development center at its Washington, D.C., headquarters has been awarded a Gold-level Leadership in Energy and Environment Design designation by the U.S. Green Building Council. 2009-66 Wed, 25 Mar 2009 14:30:21 EDT http://www.sec.gov/news/press/2009/2009-65.htm The Securities and Exchange Commission today announced the expected panelists for its April 15 roundtable relating to its oversight of credit rating agencies. 2009-65 Tue, 24 Mar 2009 16:16:41 EDT http://www.sec.gov/news/press/2009/2009-64.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Didem A. Nisanci has been named SEC Chief of Staff. 2009-64 Tue, 24 Mar 2009 12:44:27 EDT http://www.sec.gov/news/press/2009/2009-63.htm The Securities and Exchange Commission today obtained an emergency court order to halt an ongoing scheme by a Palmdale, Calif., company and two individuals who defrauded investors through a series of false claims including that Warren Buffett is associated with the company. 2009-63 Mon, 23 Mar 2009 16:58:50 EDT http://www.sec.gov/news/press/2009/2009-62.htm The Securities and Exchange Commission today charged New York's former Deputy Comptroller and a top political advisor for extracting millions of dollars in kickbacks from investment management firms seeking to manage the assets of New York's largest pension fund. 2009-62 Thu, 19 Mar 2009 12:43:03 EDT http://www.sec.gov/news/press/2009/2009-61.htm The Securities and Exchange Commission today announced that two Texas men have settled SEC charges that they perpetrated a massive e-mail spam campaign to drive up the demand for low value stocks they owned. 2009-61 Wed, 18 Mar 2009 16:38:57 EDT http://www.sec.gov/news/press/2009/2009-60.htm The Securities and Exchange Commission today charged the auditors of Bernard Madoff's broker-dealer firm with committing securities fraud by representing that they had conducted legitimate audits, when in fact they had not. 2009-60 Wed, 18 Mar 2009 10:44:10 EDT http://www.sec.gov/news/press/2009/2009-59.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Julie Zelman Davis has been named Deputy Director of the agency's Office of Legislative and Intergovernmental Affairs, where she will serve as a key liaison between the Commission and Congress. 2009-59 Mon, 16 Mar 2009 13:15:17 EDT http://www.sec.gov/news/press/2009/2009-58.htm The Securities and Exchange Commission today took further action to help increase the transparency of credit default swaps by approving conditional exemptions that will allow the Chicago Mercantile Exchange Inc. (CME) to operate as a central counterparty for clearing them. 2009-58 Fri, 13 Mar 2009 17:00:25 EDT http://www.sec.gov/news/press/2009/2009-57.htm The Securities and Exchange Commission today charged Aliso Viejo, Calif.-based software manufacturer Quest Software, Inc. and three current or former officers for stock option backdating. 2009-57 Thu, 12 Mar 2009 17:33:44 EDT http://www.sec.gov/news/press/2009/2009-56.htm President Barack Obama is expected to sign today H.R. 1105, the appropriations bill that includes funding for the Securities and Exchange Commission. Accordingly, effective March 16, 2009, the Section 6(b) fee rate applicable to the registration of securities, the Section 13(e) fee rate applicable to the repurchase of securities, and the Section 14(g) fee rate applicable to proxy solicitations and statements in corporate control transactions will increase to $55.80 per million dollars. The Section 6(b) rate is also the rate used to calculate the fees payable with the Annual Notice of Securities Sold Pursuant to Rule 24f-2 under the Investment Company Act of 1940. 2009-56 Wed, 11 Mar 2009 17:30:25 EDT http://www.sec.gov/news/press/2009/2009-55.htm The Securities and Exchange Commission today charged Northern California residents Anthony Vassallo and Kenneth Kenitzer for orchestrating a multi-million dollar investment fraud. Vassallo agreed to a court order freezing his assets. 2009-55 Wed, 11 Mar 2009 14:29:52 EDT http://www.sec.gov/news/press/2009/2009-54.htm The Securities and Exchange Commission today charged Merrill Lynch, Pierce, Fenner and Smith Inc. with securities laws violations for having inadequate policies and procedures for controlling access to institutional customer order flow. Merrill Lynch agreed to settle the SECs charges and pay a $7 million penalty, among other remedies. 2009-54 Wed, 11 Mar 2009 10:02:28 EDT http://www.sec.gov/news/press/2009/2009-53.htm The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today announced the opening of registration for five CCOutreach BD regional seminars in 2009. 2009-53 Tue, 10 Mar 2009 10:00:37 EDT http://www.sec.gov/news/press/2009/2009-52.htm The Senior Supervisors Group that comprises senior financial supervisors from seven countries (United States, Canada, France, Germany, Japan, Switzerland, United Kingdom) today issued a report that assesses how firms manage their credit default swap activities related to the settlement of credit derivatives transactions terminated by the occurrence of a credit event. 2009-52 Mon, 9 Mar 2009 12:10:37 EDT http://www.sec.gov/news/press/2009/2009-51.htm The Securities and Exchange Commission today charged a money manager with offices in New York and Rhode Island for falsely creating a billion-dollar client in order to gain credibility and attract legitimate investors. 2009-51 Mon, 9 Mar 2009 11:32:59 EDT http://www.sec.gov/news/press/2009/2009-50.htm The continuing resolution funding the Securities and Exchange Commission for fiscal year 2009 since Oct. 1, 2008, is being extended through March 10, 2009. Therefore, fees paid under Section 6(b) of the Securities Act of 1933 and Sections 13(e), 14(g) and 31 of the Securities Exchange Act of 1934 will remain at their current rates. 2009-50 Fri, 6 Mar 2009 16:30:12 EST http://www.sec.gov/news/press/2009/2009-49.htm The Securities and Exchange Commission today took action to help improve transparency in the multi-trillion dollar credit default swap market by approving conditional exemptions that will allow ICE US Trust LLC to operate as a central counterparty for clearing credit default swaps. 2009-49 Fri, 6 Mar 2009 16:03:43 EST http://www.sec.gov/news/press/2009/2009-48.htm The Securities and Exchange Commission announced today that Mark D. Cahn has been named a Deputy General Counsel in the SEC's Office of the General Counsel, and he will join the agency staff next week. 2009-48 Fri, 6 Mar 2009 12:46:36 EST http://www.sec.gov/news/press/2009/2009-47.htm The Securities and Exchange Commission announced today that Jeffrey P. Singdahlsen has been named the Associate General Counsel for Legal Policy in the agency's Office of the General Counsel. 2009-47 Fri, 6 Mar 2009 12:46:36 EST http://www.sec.gov/news/press/2009/2009-46.htm The Securities and Exchange Commission will hold a roundtable on April 15 relating to its oversight of credit rating agencies. Discussion topics will include issues related to recent SEC rulemaking initiatives, such as conflicts of interest, competition, and transparency. 2009-46 Fri, 6 Mar 2009 12:36:09 EST http://www.sec.gov/news/press/2009/2009-45.htm The Securities and Exchange Commission has charged Los Angeles resident Bruce Friedman and two of his companies with securities fraud, and obtained an emergency court order to freeze their assets and halt an alleged ongoing investment scheme involving purported real estate and mortgage lending ventures. 2009-45 Thu, 5 Mar 2009 13:10:42 EST http://www.sec.gov/news/press/2009/2009-44.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that the agency is moving to improve the handling of whistleblower complaints and enforcement tips in order to better protect investors. 2009-44 Thu, 5 Mar 2009 11:24:15 EST http://www.sec.gov/news/press/2009/2009-43.htm The Securities and Exchange Commission today announced that James Brigagliano has been named a Deputy Director in the agency's Division of Trading and Markets. 2009-43 Wed, 4 Mar 2009 14:10:53 EST http://www.sec.gov/news/press/2009/2009-42.htm The Securities and Exchange Commission today brought enforcement actions against 14 specialist firms for unlawful proprietary trading on several regional and options exchanges. The firms agreed to settle the SEC's charges by collectively paying nearly $70 million in disgorgement and penalties. 2009-42 Wed, 4 Mar 2009 13:10:15 EST http://www.sec.gov/news/press/2009/2009-41.htm Effective on April 1, 2009, or 30 days after the date of enactment of the Commission's regular appropriation for FY 2009, whichever is later, the Section 31 fee rate applicable to securities transactions on the exchanges and over-the-counter markets will increase to $25.70 per million dollars. Until that date, the current rate of $5.60 per million dollars will remain in effect. The Section 31 assessment on security futures transactions will remain unchanged at $0.0042 per round turn transaction. 2009-41 Wed, 4 Mar 2009 10:55:31 EST http://www.sec.gov/news/press/2009/2009-40.htm The Securities and Exchange Commission has announced an enforcement action against Los Angeles-based investment adviser M.A.G. Capital LLC and its president and sole owner, David F. Firestone, for taking warrants from three hedge funds that M.A.G. advises without compensating the funds for them. 2009-40 Tue, 3 Mar 2009 15:59:58 EST http://www.sec.gov/news/press/2009/2009-39.htm The Securities and Exchange Commission today is warning investors and financial services firms about con-artists who may use the names of actual SEC employees to mislead potential victims. The agency also is providing information to help potential victims protect themselves from SEC impersonators. 2009-39 Mon, 2 Mar 2009 16:03:44 EST http://www.sec.gov/news/press/2009/2009-38.htm The Securities and Exchange Commission today charged Oregon-based Sunwest Management Inc. with securities fraud and is seeking an emergency court order freezing its assets. The SEC alleges that Sunwest, which operates hundreds of retirement homes across the United States, lied to investors about its operations and concealed the risks of the investments, exposing investors to massive losses when the economic downturn triggered Sunwest's collapse. 2009-38 Mon, 2 Mar 2009 16:03:44 EST http://www.sec.gov/news/press/2009/2009-37.htm The following is a statement from SEC Chairman Mary L. Schapiro regarding the President's FY 2010 budget request for the SEC, which represents a 13 percent increase over its FY 2008 budget: "The President's requested budget increase for the SEC would enable us to increase our staff and use new technology to pursue risk-based approaches that would better detect fraud and ensure stronger oversight of the nation's securities markets. We appreciate these additional resources that would help strengthen and reinvigorate the SEC and rededicate our commitment to the protection of investors." 2009-37 Thu, 26 Feb 2009 17:00:23 EST http://www.sec.gov/news/press/2009/2009-36.htm The Securities and Exchange Commission today charged Mark Bloom and his firm North Hills Management LLC with securities fraud, and obtained an emergency court order to freeze their assets and halt an alleged investment scheme involving the marketing of a "fund of funds" investment vehicle. 2009-36 Wed, 25 Feb 2009 16:41:18 EST http://www.sec.gov/news/press/2009/2009-35.htm The Securities and Exchange Commission today took emergency action and obtained an asset freeze against two New York residents and their three affiliated entities, who orchestrated a brazen investment fraud involving the misappropriation of as much as $554 million in investor assets. 2009-35 Wed, 25 Feb 2009 15:49:42 EST http://www.sec.gov/news/press/2009/2009-34.htm The Securities and Exchange Commission today charged a Pearl River, N.Y., investment management firm and its principal for operating a large-scale scheme that defrauded hundreds of investors of millions of dollars by providing them with misleading marketing materials that significantly overstated investment returns and by misrepresenting the value of the assets under management. 2009-34 Wed, 25 Feb 2009 13:56:39 EST http://www.sec.gov/news/press/2009/2009-33.htm The Securities and Exchange Commission announced today that Michael A. Conley has been named Deputy Solicitor in the Appellate Group of the SEC's Office of the General Counsel. In that role, Mr. Conley will help oversee the Commission's appellate and amicus curiae litigation. 2009-33 Tue, 24 Feb 2009 11:30:36 EST http://www.sec.gov/news/press/2009/2009-32.htm The Securities and Exchange Commission today made the following statement regarding its enforcement action against Robert Allen Stanford: "At the request of the SEC, Special Agents of the Federal Bureau of Investigation's Richmond Division today located and identified Stanford Financial Group chairman Allen Stanford in the Fredericksburg, Va., area. The agents served Mr. Stanford with court orders and documents related to the SEC's civil filing against him and three of his companies. The SEC very much appreciates the outstanding assistance of the FBI in this matter." 2009-32 Thu, 19 Feb 2009 17:39:36 EST http://www.sec.gov/news/press/2009/2009-31.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that former federal prosecutor Robert Khuzami has been named Director of the Division of Enforcement. 2009-31 Thu, 19 Feb 2009 13:45:13 EST http://www.sec.gov/news/press/2009/2009-30.htm The Securities and Exchange Commission has obtained a court order halting a Ponzi scheme that specifically targeted members of the Deaf community in the United States and Japan. 2009-30 Thu, 19 Feb 2009 10:05:50 EST http://www.sec.gov/news/press/2009/2009-29.htm The Securities and Exchange Commission today filed an enforcement action against UBS AG, charging the firm with acting as an unregistered broker-dealer and investment adviser. 2009-29 Wed, 18 Feb 2009 17:12:20 EST http://www.sec.gov/news/press/2009/2009-28.htm The Securities and Exchange Commission announced today that Andrew N. Vollmer, Acting General Counsel, plans to leave the Commission and return to the private sector. 2009-28 Wed, 18 Feb 2009 17:12:20 EST http://www.sec.gov/news/press/2009/2009-27.htm The Securities and Exchange Commission today charged BlackBerry maker Research in Motion Limited and four of its senior executives for stock option backdating. 2009-27 Tue, 17 Feb 2009 13:42:54 EST http://www.sec.gov/news/press/2009/2009-26.htm The Securities and Exchange Commission today charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion CD program. 2009-26 Tue, 17 Feb 2009 11:55:40 EST http://www.sec.gov/news/press/2009/2009-25.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Kayla J. Gillan has been named Senior Advisor to the Chairman and begins serving in her position today. 2009-25 Tue, 17 Feb 2009 11:39:37 EST http://www.sec.gov/news/press/2009/2009-24.htm The Securities and Exchange Commission today charged George Georgiou of Toronto, Ontario, with manipulating the market in four separate microcap stocks — Avicena Group, Inc., Neutron Enterprises, Inc., Hydrogen Hybrid Technologies, Inc., and Northern Ethanol, Inc. 2009-24 Thu, 12 Feb 2009 15:18:59 EST http://www.sec.gov/news/press/2009/2009-23.htm The Securities and Exchange Commission today announced settlements with KBR, Inc. and Halliburton Co. to resolve SEC charges that KBR subsidiary Kellogg Brown & Root LLC bribed Nigerian government officials over a 10-year period, in violation of the Foreign Corrupt Practices Act (FCPA), in order to obtain construction contracts. The SEC also charged that KBR and Halliburton, KBR's former parent company, engaged in books and records violations and internal controls violations related to the bribery. 2009-23 Wed, 11 Feb 2009 13:33:39 EST http://www.sec.gov/news/press/2009/2009-22.htm The Securities and Exchange Commission announced today that Linda Chatman Thomsen, Director of the Division of Enforcement, plans to return to the private sector. Ms. Thomsen led a historic period of SEC law enforcement during which the Commission brought more than 2,000 enforcement actions and returned billions of dollars to harmed investors. In the past two years, the Commission has brought the second and third-highest number of enforcement actions in agency history. 2009-22 Mon, 09 Feb 2009 13:59:24 EST http://www.sec.gov/news/press/2009/2009-21.htm The Securities and Exchange Commission announced today that it has completed the first in a series of disbursements from a Fair Fund that will return approximately $321 million to more than two million investors who were harmed by undisclosed market timing in the Alliance mutual funds complex. 2009-21 Fri, 06 Feb 2009 14:30:13 EST http://www.sec.gov/news/press/2009/2009-20.htm Securities and Exchange Commission Chairman Mary L. Schapiro announced today that David M. Becker will return to the agency later this month as its General Counsel and Senior Policy Director. 2009-20 Fri, 06 Feb 2009 12:00:13 EST http://www.sec.gov/news/press/2009/2009-19.htm The Securities and Exchange Commission announced today that Robert B. Malhotra has been named to serve in the SEC's Office of the Chief Accountant (OCA) as a senior advisor. 2009-19 Thu, 05 Feb 2009 15:30:18 EST http://www.sec.gov/news/press/2009/2009-18.htm The Securities and Exchange Commission today charged seven individuals involved in an insider trading ring that generated more than $11.6 million in illegal profits and avoided losses. 2009-18 Thu, 05 Feb 2009 14:26:24 EST http://www.sec.gov/news/press/2009/2009-17.htm The Securities and Exchange Commission today announced a settlement with Wachovia Securities LLC that will provide more than $7 billion in liquidity to thousands of customers who invested in auction rate securities (ARS) before the market for those securities collapsed. 2009-17 Thu, 05 Feb 2009 14:26:24 EST http://www.sec.gov/news/press/2009/2009-16.htm The Securities and Exchange Commission has taken emergency action to stop a massive and ongoing international boiler room scheme that allegedly sold shares of U.S. penny stock issuers to investors located in Europe by misrepresenting that investors paid no sales commissions. 2009-16 Wed, 04 Feb 2009 14:59:34 EST http://www.sec.gov/news/press/2009/2009-15.htm The Securities and Exchange Commission has taken emergency action against a private fund manager in Gilberts, Ill., alleging that he fraudulently obtained at least $10 million from approximately 300 investors and misappropriated the funds for personal use and to pay purported returns to investors. 2009-15 Wed, 04 Feb 2009 14:36:10 EST http://www.sec.gov/news/press/2009/2009-14.htm The Securities and Exchange Commission announced today that Robert L.D. Colby, Deputy Director of the Division of Trading and Markets, will leave the agency in February to join the law firm of Davis Polk and Wardwell in its Washington, D.C. office. 2009-14 Mon, 02 Feb 2009 11:40:27 EST