SEC Bans Arizona-Based Investment Adviser from Securities Industry for Fraudulent Actions in Mutual Fund Collapse »
Washington, D.C., Dec. 21, 2012 — The Securities and Exchange Commission today barred an Arizona-based mutual fund manager from the securities industry for failing to follow the investment objectives of a stock mutual fund managed by his firm, leading to…
December 22, 2012 / Read More »
Court Appoints Liquidator to Lemma Insurance Europe Ltd »
The Supreme Court in Gibraltar has appointed Provisional Liquidators of Lemma Europe Insurance Company Ltd. The Financial Services Compensation Scheme (FSCS) is currently in discussions with Grant Thornton who are the Provisional Liquidators and understands that the company’s payments to…
October 3, 2012 / Read More »SEC Approves New Rules Regarding Lost Holders of Securities »
Washington, D.C., Dec. 21, 2012 — The Securities and Exchange Commission today unanimously approved new rules requiring broker-dealers to conduct searches for holders of securities with whom they have lost contact. A similar rule already applied to recordkeeping transfer agents, who are the intermediaries between the clearing house and the…
December 22, 2012 / Read More »SEC Charges Four Penny Stock Purchasers with Fraud »
Washington, D.C., Dec. 21, 2012 — The Securities and Exchange Commission today charged four securities industry professionals with conducting a fraudulent penny stock scheme in which they illegally acquired more than one billion unregistered shares in microcap companies at deep discounts and then dumped them on the market for approximately…
December 22, 2012 / Read More »Paul Beswick Named SEC Chief Accountant »
Washington, D.C., Dec. 21, 2012 — Securities and Exchange Commission Chairman Elisse Walter today announced the appointment of Paul A. Beswick as the agency’s Chief Accountant. Mr. Beswick has been serving as Acting Chief Accountant for the past several months. “Paul has served the Commission with great distinction and provided…
December 22, 2012 / Read More »Estate Agents Assisting with Buying or Selling Overseas Property Now Subject to Anti-Money Laundering Regulations »
Changes to the Anti-Money Laundering (AML) Regulations mean that UK-based estate agents who assist clients to buy or sell overseas property must comply with the regulations from 1 October 2012 and register as soon as possible. Those that fail to do so may be subject to a fine or face…
October 3, 2012 / Read More »
