1. On July 29, 2025, the North American Securities Administrators Association (NASAA) sought public comment on proposed amendments to four rules related to investment adviser advertising for State registered investment advisers. The proposal would update the NASAA rules to align them more closely to federal standards. By way of background, the SEC amended its investment … Read More
1. On June 29, 2025, two workers for the SEC’s EDGAR system were charged with insider trading. Federal prosecutors allege that Justin Chen, 31, and Jun Zhen, 29, exploited their privileged access to the SEC’s EDGAR system to trade ahead of market-moving announcements—pocketing more than $1 million in three months. Between March and June 2025, … Read More
1. On May 28, 2025, the SEC charged Kronus Financial Corporation and Finser International Corporation, along with their principal, Andrew Jacobus, for misappropriating over $17 million from 40 advisory clients, most of whom are Venezuelan nationals and include Catholic dioceses and elderly individuals. Jacobus raised approximately $39.7 million from advisory clients who believed they were investing … Read More
1. On April 29, 2025, the SEC charged Kenneth Alexander, Robert Welsh and Caedrynn Conner for operating a Ponzi scheme that raised at least $91 million from more than 200 investors. Defendants falsely represented that investors would receive twelve guaranteed monthly payments of between 3% and 6% per month with the principal investment to be … Read More
1. On March 27, 2025, the Senate banking committee held a confirmation hearing for Paul Atkins, President Donald Trump’s nominee to lead the Securities and Exchange Commission. Atkins is expected to advocate for focusing on enforcement cases that affect investors and on crypto-friendly policies. https://www.banking.senate.gov/hearings/03/20/2025/nomination-hearing and https://www.banking.senate.gov/imo/media/doc/atkins_testimony_3-27-25.pdf 2. On March 27, 2025, the SEC filed … Read More
1. On March 3, 2025, Reuters reported that the SEC is offering some employees $50,000 if they choose to resign or to retire under an early retirement program, according to an agency memo. The SEC and other federal agencies have been looking at ways to cut staff and costs to meet demands from President Donald … Read More
1. On January 2, 2025, the U.S. Treasury Department’s final rule will go into effect that prohibits all U.S. persons from engaging in certain transactions involving technologies and products in China that pose a national security threat to the United States. Covered technologies fall into three categories: semiconductors and microelectronics, quantum information technologies and artificial … Read More
1. On November 27, 2024, the SEC announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 14 soliciting entities, two impersonators of genuine firms, and four bogus regulators. The SEC’s list of soliciting entities that have been the subject of investor complaints, known as the Public … Read More
1. On October 31, 2024, the SEC instituted administrative proceedings against J.P. Morgan Investment Management Inc. (“JP Morgan”), a registered investment adviser, for engaging in or caused 65 prohibited principal trades with a combined notional value of approximately $8.2 billion and which included approximately $22,000 in spreads. To conduct these trades, a JP Morgan portfolio … Read More