Category Archives: Securities

SEC Publicizes 2013 Whistleblower Results

On November 15, 2013, the SEC publicized its 2013 Annual Report on the Dodd-Frank Whistleblower Program.  Although the Whistleblower Program is only in its third year, the SEC trumpeted its results as “historic.”  During Fiscal Year 2013, the program paid … Continue reading

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SEC Charges Mark Megalli with Insider Trading

SEC v. Mark Megalli, (N.D. Ga.).  On November 14, 2013, the SEC announced it filed insider trading charges against Mark Megalli for trading on nonpublic information about clothing company Carter’s Inc.  According to the SEC, Megalli got inside information through a … Continue reading

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SEC Enters into Deferred Prosecution Agreement with Scott Herckis

On November 12, 2013, the SEC announced that it entered into its first deferred prosecution agreement (“DPA”) with an individual.  DPAs are intended to encourage cooperation with the SEC as it investigates wrongdoing.  In return for such cooperation, the SEC … Continue reading

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SEC Charges Subsidiary of the Royal Bank of Scotland with Fraud in Connection with Mortgage-Backed Security Offering

SEC v. RBS Securities, Inc., Case No. 3:13-cv-01643 (D. Conn.).  On November 7, 2013, the SEC announced it filed settled fraud charges against RBS Securities Inc., a subsidiary of the Royal Bank of Scotland plc, in connection with a subprime … Continue reading

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SEC Charges Audit Firm Sherb & Co. LLP and Four of its Auditors for Audit Failures of China-based Companies

In the Matter of Sherb & Co., LLP, et al., Admin Proc. No. 3-15609.  On November 6, 2013, the SEC announced the filing of a settled administrative proceeding against Sherb & Co. LLP, and four of its auditors, Steven J. … Continue reading

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SEC Files Subpoena Enforcement Action against Anthony Coronati

SEC v. Anthony Coronati, Case No. 1:13-mc-00372-P1.  On November 5, 2013, the SEC announced it filed a subpoena enforcement action against Anthony Coronati and obtained an order directing Coronati to show cause why he should not be ordered to comply … Continue reading

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SEC Charges Municipal Issuer and the Underwriter and Outside Developer in Connection with a Bond Offering that Financed the Construction of a Regional Events Center and Ice Hockey Arena

In the Matter of the Greater Wenatchee Regional Events Center Public Facilities District, et al., Admin Proc. No. 3-156602; In the Matter of  Piper Jaffray & Co. and Jane Towery, Admin Proc. No. 3-15603.  On November 5, 2013, the SEC … Continue reading

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SEC Obtains Emergency Relief Against Christopher A.T. Pedras to Stop Ponzi Scheme

SEC v. Christopher A.T. Pedras, et al., Case No. CV 13-07932 DMG JCGx (C.D. Cal.)  On November 4, 2013, the SEC announced it obtained an emergency asset freeze against Christopher A.T. Pedras who allegedly deceived investors into believing they were … Continue reading

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SEC Charges Yin Nan Wang and Wendy Ko in Real Estate Scheme and Obtains Emergency Asset Freeze

SEC v. Yin Nan “Michael” Wang, Wendy Ko, et al., Case No. CV 13-07553 JAK CSSx (C.D. Cal.)  On November 1, 2013, the SEC announced it obtained an emergency asset freeze against Yin Nan (Michael) Wang, Wendy Ko and some … Continue reading

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SEC Charges Dennis Rosenberg with Insider Trading

SEC v. Dennis S. Rosenberg, Case No. 1:13-cv-3559-AT (N.D. Ga.).  On October 29, 2013, the SEC announced insider trading charges against Dennis Rosenberg (“Rosenberg”) for trading in the securities of Carter’s Inc. (“Carter’s”).  According to the SEC, Rosenberg would trade … Continue reading

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