Under Armour pays $9 million to end charges is misled investors about sales growth to meet analysts’ revenue targets

Under Armour will pay $9 million to settle federal regulators’ charges that it misled investors about its sales growth in 2015 and 2016 to meet analysts’ revenue targets. For six consecutive quarters beginning in the third quarter of 2015, the sports apparel company “pulled forward” a total of $408 million in existing product orders that […]

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Securities and Exchange Commission charges investment advisor with defrauding sports clients for undisclosed fees and high risk investments

The Securities and Exchange Commission charged Douglas Elstun, an investment advisor serving pro athletes, with defrauding his clients with undisclosed fees and misleading them about a high-risk investment strategy. Elston operated registered investment advisor (RIA) Crossroads Financial Management and billed clients annual fees as high as 1.25% of assets under management, above the 1% maximum […]

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Securities and Exchange Commission files suit against New Hampshire firm LBRY for failure to register offering of securities LBRY Token

The Securities and Exchange Commission (SEC) has filed a civil suit against New Hampshire firm LBRY because it allegedly failed to register an offering of securities. The SEC Complaint states: “From 2016 through the present, LBRY offered and sold millions of dollars’ worth of unregistered securities to investors, in the form of a digital asset […]

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Major Canadian cryptocurrency exchange Coinsquare ordered to hand over client info to federal tax authorities

A major Canadian cryptocurrency exchange Coinsquare of Toronto has been ordered to render its client information to federal tax authorities following a first-of-its-kind court ruling. The Federal Court issued an order compelling Coinsquare Ltd. to reveal customer details to the Canada Revenue Agency as it expands its enforcement among cryptocurrency holders and traders. The tax agency […]

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Coinbase pays $6.5 million to settle charges by CFTC of fraudulent “wash trades” in Bitcoin and Litecoin

The US Commodity Futures Trading Commission (CFTC) said on Friday digital asset exchange Coinbase Inc paid $6.5 million to settle charges it reported misleading transaction data that potentially inflated the apparent trading volume on its professional GDAX platform. The fine was issued for  “wash trades” in litecoin and bitcoin by a former Coinbase employee on […]

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Securities and Exchange Commission issues first ever enforcement action on securities fraud on the darknet

The U.S. Securities and Exchange Commission has announced charges against California resident James Roland Jones in the first-ever enforcement action from the commission to target securities fraud on the darknet. The dark web was designed to let users access the internet anonymously and it is intentionally hidden requiring special software to access the content. It is […]

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Securities & Exchange Commission charges trader with fraud for false tweets alleging yield over $900,000 in profits

  The Securities and Exchange Commission has issued fraud charges and an asset freeze against a trader who used Twitter to spread false information about a defunct company. According to the SEC’s Complaint, the trader, Andrew Fassari secretly profited $900,000 by selling his own holdings of the company’s stock. The SEC complaint said he used […]

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SEC charges AT&T and three execs with selectively providing nonpublic information to research analysts

The Securities and Exchange Commission has charged AT&T, Inc. with repeatedly violating a securities regulation prohibiting disclosure of nonpublic ionformation, and three of its Investor Relations executives with aiding and abetting AT&T’s violations, by selectively disclosing material nonpublic information to research analysts. According to the SEC’s complaint, AT&T learned in March 2016 that a steeper-than-expected […]

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SEC will allow enforcement staff go launch investigations allowing for subpoenas to companies for records or testimony

The Securities and Exchange Commission will give more power to its enforcement staff to launch investigations, an early sign that it plans to become more assertive under the Biden administration. This change allows more enforcement supervisors to authorize investigations, permitting about 36 senior officials at the agency to subpoena companies and individuals for records or […]

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SEC charges AT&T and 3 execs with giving certain Wall street analysts access to nonpublic info without sharing it widely

AT&T and three of its executives have been charged by the SEC with selectively giving some Wall Street analysts access to nonpublic information without sharing it widely. The SEC said that internal documents showed that data was generally considered material to investors and cannot be selectively disclosed under the Fair Disclosure Regulation (Regulation FD). That […]

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