On April 17, 2020, the SEC announced it has settled charges against three firms that self-reported as part of the Division of Enforcement’s Share Class Selection Disclosure Initiative. The SEC’s orders found Merrill Lynch, Pierce, Fenner & Smith Inc. (MLPFS) and Eagle
SEC Charges California Trader for Manipulative Trading Scheme Involving COVID-19 Claims
On June 9, 2020, the SEC charged a penny stock trader in California with conducting a pump-and-dump scheme using the stock of a biotech company. According to the complaint, the trader attempted to drive up the stock price of Arrayit Corporation by
Municipal Advisors Granted Relief under SEC’s Temporary Conditional Exemption
On June 16, 2020, the Securities and Exchange Commission announced a Temporary Conditional Exemption for municipal advisors (MAs), which provides an exemption from certain broker registration requirements under Section 15 of the Securities Exchange Act of 1934. This order is in response
Paycheck Protection Program Disclosure Requirements: UPDATE
On April 27, 2020 the SEC updated its Division of Investment Management Coronavirus (COVID-19) Response FAQ and addressed a question pertinent to our article dated April 17, 2020. Question II.4 asked: “If I receive or have received a PPP loan, what are
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