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Monthly Archives: May 2013
SEC Charges Total S.A. With FCPA Violations for Payments to Iranian Official
In the Matter of Total S.A., SEC Admin. Proc. No. 3-15338. On May 29, 2013, the SEC announced it filed a settled administrative proceeding against Total S.A. for violating the FCPA by paying $60 million in bribes to associates of … Continue reading
Posted in Securities
Tagged FCPA, SEC, Securities Exchange Act
SEC Files Settled Charges Against NASDAQ Related to Facebook IPO
In the Matter of the NASDAQ Stock Market, LLC and NASDAQ Execution Services, LLC, SEC Admin. Proc. No. 3-15339. On May 29, 2013, the SEC announced it filed a settled administrative proceeding against NASDAQ related to poor systems and decision-making … Continue reading
Posted in Securities
Tagged Reg. SHO, Regulation NMS, Securities Exchange Act
SEC Charges Daniel Bergin with Front Running
SEC v. Daniel Bergin, et al., Case No. 3:13-cv-1940 (D. TX.). On May 24, 2013, the SEC announced it filed an emergency action and obtained an asset freeze against Daniel Bergin, an equity trader at Cushing MLP Asset Management. According … Continue reading
Posted in Securities
Tagged Fraud, Investment Company Act, SEC, Securities Exchange Act
SEC Charges China-based Executives Dejun “David” Zou and Jianping “Amy” Qiu with Stealing Money and Overstating Revenues
SEC v. RINO International Corporation, et al., Case No. 1:13-cv-00711 (D.D.C). On May 15, 2013, the SEC announced it filed fraud charges against China-based RINO, Corp., its former CEO, Dejun “David” Zou, and its chairman of the board, Jianping “Amy” … Continue reading
Posted in Securities
Tagged Books and Records, Fraud, SEC, Securities Act, Securities Exchange Act
SEC Charges China-based Sabuye, Inc. and former CFO James T. Crane with Fraud
SEC v. Subaye, Inc. and James T. Crane, Case No. 13-civ-3114 (S.D.N.Y). On May 8, 2013, the SEC announced it filed fraud charges against China-based Subaye, Inc. and its former CFO, James T. Crane. According to the SEC, Subaye purported … Continue reading
Posted in Securities
Tagged Fraud, Sarbanes-Oxley Act, SEC, Securities Exchange Act
SEC Charges Traders in Illegal Kickback Scheme
SEC v. Thomas Alberto Clarke Bethancourt et al, Case No. 13-cv-3074 (S.D.N.Y). On May 6, 2013, the SEC announced it filed fraud charges against Tomas Alberto Clarke Bethancourt, Iuri Rodolfo Bethancourt, Jose Alejandro Hurtado, and Haydee Leticia Pabon. The SEC … Continue reading
Posted in Securities
Tagged Broker-Dealer, Fraud, SEC, Securities Act, Securities Exchange Act
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SEC Charges the City of Harrisburg with Securities Fraud
In the Matter of the City of Harrisburg, Pennsylvania, Admin. Proc. File No. 3-15316. On May 6, 2013, the SEC announced it filed a settled administrative proceeding against the City of Harrisburg. The SEC’s Order finds that Harrisburg is virtually … Continue reading
Posted in Securities
Tagged Fraud, municipal bonds, SEC, Securities Exchange Act
Level Global Settles SEC Insider Trading Case for $21.5 Million
SEC v. Adondakis et al., Case No. 12 Civ. 0409 HB (S.D.N.Y). On April 30, 2013, the SEC announced it settled insider trading charges against Level Global Investors LP. In January 2012, the SEC filed insider trading charges against Level … Continue reading
Posted in Securities
Tagged Hedge Fund, illegal trades, Insider Trading, SEC, Securities Act, Securities Exchange Act
