Securities and Exchange commission charges financial services professional and associate in $47 Million front running scheme

The Securities and Exchange Commission today announced fraud charges against Lawrence Billimek, an employee of a major asset management firm with securities portfolios worth billions of dollars, and Alan Williams, who previously worked at several financial industry firms, for perpetrating a multi-year front-running scheme that generated at least...
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Number of major cyber attacks against financial institutions spike and whistleblower reports are expected to rise as regulators tighten regulations

Cyberattacks in the financial sector have skyrocketed by all reliable data sources. According to VMware, U.S. financial institutions experienced a 238% increase in cyberattacks within the first six months of 2020 and the rate of such attacks has continued to increase through 2021 and into 2022. Financial institutions are being attacked...
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Cyberattacks- when must publicly traded companies report them to the Securities and Exchange Commission and other agencies?

The SEC and other agencies are concerned about the significant increase in Cyberattacks on financial companies, banks, critical infrastructure companies and others as these attacks from nationstates threaten the security of the United States. In August of last year, the SEC filed a settlement enforcement action against Pearson plc, a London-based public...
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U.S. Securities and Exchange Commission issues investor alert to identify theft and data breaches to your investment accounts due to significant spikes in cybercrime

The United States Securities and Exchange Commission Office of Investor Education has recommended that all investors check their accounts to determine whether financial information or assets have been stolen. This is because the amount of cyrber attacks and cyber penetration has increased substantially in the past...
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Neurological injury compensation plan and association to pay $51 Million to resolve False Claims Act allegations

The Florida Birth-Related Neurological Injury Compensation Plan and its administrator, the Florida Birth-Related Neurological Injury Compensation Association (collectively, “NICA”), have agreed to pay $51 million to resolve allegations that they violated the False Claims Act by causing NICA participants to submit their healthcare claims to Medicaid rather...
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