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Corporate / Securities Law News

News on Corporate / Securities Law continually updated from thousands of sources around the net.

24 min ago | JD Supra

SEC Charges Insiders for Violations of Section 16(a) and Section 13

On September 10, 2014, the Securities and Exchange Commission announced charges against 28 officers, directors, and major shareholders for violating federal securities laws requiring them to report information about their holdings and transactions in company stock as required pursuant to Sections 16 , 13 , and 13 of the Securities Exchange Act of 1934. The SEC also charged six publicly-traded companies for failing to report their insiders' filing delinquencies or for contributing to their insiders' failures to file.

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Related Topix: Securities and Exchange Commission, Law

24 min ago | JD Supra

SEC Announces Enforcement Initiative for Delinquent Securities...

On September 10, 2014, the Securities and Exchange Commission announced charges against 13 officers or directors and 15 major shareholders of publicly traded companies for violating Section 16 , Section 13 , and/or Section 13 of the Securities Exchange Act of 1934, which require certain corporate insiders and major shareholders to timely report information about holdings and transactions in registered classes of company equity securities.The SEC also charged six public companies with contributing to the filing failures or neglecting to report the violations.

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Related Topix: Securities and Exchange Commission, Law

2 hrs ago | WVIZ-TV Cleveland

27-Year-Old Businessman Indicted, Accused of Defrauding Cleveland Investors

A 27-year-old businessman from Mexico who once lived in Gates Mills has been indicted on federal charges. Prosecutors accuse him of defrauding investors in Ohio and elsewhere.

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Related Topix: Securities and Exchange Commission, Law

5 hrs ago | JD Supra

[Video] SEC Approves New Rules to Address Run Risks in Money Market Funds

On September 9, 2014, Pepper Hamilton attorneys Gregory J. Nowak and John P. Falco spoke on a webinar for West LegalEdcenter, part of Thomson Reuters. This podcast is a recording of this webinar.

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Related Topix: Securities and Exchange Commission, Law, Mutual Funds, Personal Finance

9 hrs ago | Reuters

UPDATE 1-U.S. SEC's Gallagher calls for reforms in fixed income markets

A top U.S. regulator called on Tuesday for major reforms in the fixed income markets, saying many of the rules are out of date and lack enough protections for retail investors. In remarks at a market structure conference at Georgetown University, Securities and Exchange Commission Republican member Daniel Gallagher said he is concerned by "a troubling asymmetry of information" in the bond market.

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Related Topix: Securities and Exchange Commission, Law, Georgetown University

Tue Sep 16, 2014

BroadcastNewsroom

Communications & Power Industries Provides Quad-Band Radome For ViaSat Roaming Demonstration

The Radant Technologies Division of Communications & Power Industries LLC provided a novel, quad-band satellite communications radome to support the recent successful flight demonstrations of ViaSat, Inc.'s first integrated Ku-band and Ka-band airborne satellite terminal. The demonstrations showed that the ViaSat terminal, utilizing a radome from the CPI Radant Technologies Division, can switch dynamically among six satellites and three satellite networks across both Ku-band and Ka-band frequencies.

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Related Topix: Law

Wall Street Journal

A 1980s Corporate Raider Holds Off the SEC

At a beachside picnic table on this Caribbean island, where he lives in voluntary exile, former corporate raider Paul Bilzerian says he hasn't lost his taste for battling his enemies in the U.S. government. But 25 years after Mr. Bilzerian became a Wall Street felon, the Securities and Exchange Commission is quitting the fight, winding down its quest to collect a $62 million civil judgment against him for securities fraud.

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Related Topix: Securities and Exchange Commission, Law

Business Journal

Former AARP leader in Miami-Dade ran offshore Ponzi scheme, SEC charges

Joseph Laurer was well known in southern Miami-Dade County as the president of the South Dade chapter of the AARP and a member of Homestead's General Employee Pension Board when he passed away in July, but federal authorities say he was running a Ponzi scheme.

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Related Topix: Securities and Exchange Commission, Health, Law, AARP

Business Journal

Former AARP leader in Miami-Dade ran offshore Ponzi scheme, SEC charges

Joseph Laurer was well known in southern Miami-Dade County as the president of the South Dade chapter of the AARP and a member of Homestead's General Employee Pension Board when he passed away in July, but federal authorities say he was running a Ponzi scheme. The 69-year-old, who also went by Dr. Josef V. Laurer , is the subject of a civil complaint by the Securities and Exchange Commission over an alleged investment fraud that raised $4.6 million from 50 mostly local investors.

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Related Topix: Securities and Exchange Commission, Law, Health, AARP

Business Journal

Federal authorities bust $300 Ponzi scheme in Florida Keys

Two residents of the Florida Keys were indicted for running a $300 million Ponzi scheme that sold investors vacation rental units. Fred Davis Clark Jr. and Cristal R. Clark were charged with conspiracy to commit bank fraud and bank fraud for a scheme that allegedly defrauded 1,400 investors.

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Related Topix: Securities and Exchange Commission, Law, Housing

Business Journal

With Novartis deal dead, Proteon turns to Plan B: IPO

Proteon Therapeutics Inc. is planning an initial public offering according to a Tuesday filing with the Securities and Exchange Commission.

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Related Topix: Securities and Exchange Commission, Law

Reuters

UPDATE 1-Tech specialist at U.S. law firm charged with insider trading

An information technology employee at a major U.S. law firm was arrested on Tuesday on charges that he engaged in an insider trading scheme that enabled him to earn nearly $297,000. Dmitry Braverman, a former senior information systems engineer at Wilson Sonsini Goodrich & Rosati, was charged with one count of securities fraud in a criminal complaint filed in New York.

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Related Topix: Criminal Defense Law, Law, Wilson Sonsini Goodrich and Rosati, Startups, Wilson Sonsini Goodrich & Rosati, Securities and Exchange Commission, US Securities and Exchange Commission, Financial Services

GlobeNewswire

Identiv Closes $30 Million Public Offering of Common Stock

Identiv, Inc. , a global security technology company that provides trust solutions for premises, information, and everyday items, announced the closing of an underwritten public offering of 2,000,000 shares of its common stock at a public offering price of $15.00 per share. Identiv has also granted the underwriter a 30-day option to purchase up to an additional 300,000 shares of common stock to cover overallotments, if any.

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Related Topix: Securities and Exchange Commission, Law

WTVF Nashville

Tennessee Feed Company Agrees To Fraud Settlement

Securities and Exchange Commission officials said a Tennessee-based animal feed company has agreed to pay back $18 million in illegal profits from an accounting fraud. In a news release, the SEC said Monday that AgFeed Industries and top company executives were charged in March for repeatedly reporting fake revenues from the company's China operations in order to meet financial targets and inflate AgFeed's stock price.

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Related Topix: Securities and Exchange Commission, Law, Economics News, Bankruptcy

JD Supra

CFTC Permits Additional Third-Party Recordkeepers for Registered CPOs

The Division of Swap Dealer and Intermediary Oversight of the U.S. Commodity Futures Trading Commission issued exemptive relief1 on September 8, 2014 to permit a registered commodity pool operator to keep its required CPO and commodity pool records at a location other than the CPO's "main business office" if certain conditions are met. Historically, CFTC rules generally mandated that registered CPOs maintain required CPO and commodity pool records at the CPO's main business address.

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Related Topix: Law

ThinkProgress

The Vaguely Written Rule That's Letting Corporations Get Away With Staying Very White And Male

The United States only has one requirement relating to diversity on corporate boards. But it's so vague that employers get to fill in the blanks, and it's unlikely to change the fact that boards remain overly filled with white men anytime soon.

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Related Topix: Securities and Exchange Commission, Law, US News, Liberal Political News

GhanaWeb

Amended securities law set for Dec

A new securities law to address gaps in the regulatory environment and allow for the introduction of new products onto the capital market is expected to be passed by the end of year. The current securities law -- which is 21-year old -- does not suffice for the changing trend in the securities industry and new products being developed for the capital market, thereby necessitating a review.

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Related Topix: Securities and Exchange Commission, Law

Mon Sep 15, 2014

InvestmentNews

SEC moves closer to decision on and#8220;nontransparentand#8221; active ETFs

The Securities and Exchange Commission appears to be deciding whether to allow a new type of actively managed ETF to trade that does not regularly disclose its underlying holdings. Kevin M. O'Neill, a deputy secretary at the SEC, set a deadline of Nov. 7 as the date by which the agency will decide whether to approve a NASDAQ rule change that would allow exchange-traded managed fund shares to trade, according to a regulatory notice.

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Related Topix: Securities and Exchange Commission, Law

AmericanBankingNews.com

Century Bancorp major shareholder Purchases $40,612 in Stock

Century Bancorp major shareholder James J. Filler purchased 1,167 shares of the company's stock on the open market in a transaction that occurred on Monday, September 15th. The stock was purchased at an average cost of $34.80 per share, with a total value of $40,611.60.

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Related Topix: Securities and Exchange Commission, Law

JD Supra

M&A Broker Exemption Bill Resurrects Financial Statement Replaced in 1988

Last week, the North American Securities Administrators Association withdrew its support for S. 1923 which, if enacted, would exempt "M&A brokers" from the broker registration requirements of the Securities Exchange Act of 1934. In this letter to Senators Joe Manchin and David Vitter, Arkansas Securities Commissioner A. Heath Abshure blamed NASAA's change in position on the "inexplicable removal from the bill of a basic and critical provision disqualifying 'bad actors' from qualifying for the registration exemption established by the bill .

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Related Topix: Law

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