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Category: SEC

February 28, 2021

Whistleblower business – SEC awards more than $4.7M in four cases

Whistleblowing has long since become a billion-dollar business in the United States, involving whistleblowers, lawyers, and private investigators. It is a lucrative business. Over the last seven days, the U.S. Securities and Exchange Commission (SEC) announced awards totaling more than $4.7M. The SEC has awarded approximately $752 million to 138 individuals since issuing its first award in 2012.

February 17, 2021

Let’s go crypto! Canadian regulator approved first two BTC ETFs in North America

Cryptocurrencies are the future, right? At least that's what many experts and visionaries like Elon Musk claim. Apparently, North American regulators are now also giving in to the crypto trend, finally approving the first crypto ETFs and thus facilitating entry of more institutional investors into crypto. While the U.S. SEC has not yet approved a crypto ETF the Canadian Ontario Securities Commission (OSC) has approved two Bitcoin ETFs within just a couple of days.

January 2, 2021

SEC Complaint against Ripple may cause the first financial collapse in crypto universe

The last days of 2020 saw the U.S. SEC complaint against Ripple Labs Inc. alleging that its XRP is actually a security. A regulatory attack on the entire crypto scene, some analysts argue. Once the 3rd-largest crypto, XRP's market cap plummeted from more than $26 billion to less than $10 billion. Some crypto exchanges such as Coinbase, OKCoin, or Crypto.com have suspended trading in XRP. Is it the end of days for XRP and the crypto bull-run?

December 28, 2020

U.S. SEC obtained Emergency Asset Freeze against $120 Mio crypto scheme Virgil Capital

The U.S. SEC filed an emergency action and obtained an order imposing an asset freeze and other emergency relief against Virgil Capital LLC (www.virgilcap.com) and its affiliated companies in connection with an alleged securities fraud relating to Virgil Capital's cryptocurrency trading fund, Virgil Sigma Fund LP. The Commission's action alleges that the fraud was directed by Stefan Qin, an Australian citizen and part-time resident of New York, who owns and controls the crypto scheme.

December 18, 2020

John Grisham Business – SEC Issues multiple whistleblower awards totaling over $3.6 million

Whistleblowing has a long tradition in the U.S. and has been a tradition under the False Claims Act (FCA) since the 19th century. Initially, the fight against fraud on the government has been incentivized, and now regulators work with whistleblower programs to efficiently expose violators of securities laws and financial fraud. The Internet has given whistleblowers wings. Most recently, the U.S. SEC again paid out over $3.6 million in whistleblower awards.

December 16, 2020

Investor Alert – Investment scams on the rise amid COVID-19 pandemic

The U.S. Securities and Exchange Commission (SEC) reports a significant increase in complaints since the beginning of the COVID-19 crisis. Those frauds include Ponzi schemes, fake certificates of deposit, bogus stock promotions, and community-based financial scams. Scammers evidently use the current COVID-19 pandemic to lure victims into investment scams. Most broker and investment scams and MLMs are designed as Ponzi schemes using money from new investors to pay existing investors' fake profits.

December 16, 2020

Investor Alert – Investment scams on the rise amid COVID-19 pandemic

November 23, 2020

Bloomberg: Jay Clayton’s exit at SEC is excellent news for investor protection

SEC Chairman Jay Clayton is leaving his position at the end of the year that after serving for more than three and a half years. He will conclude his tenure at the end of this year though his term runs through June. While Clayton is considered the man of Wall Street and Trump's likely successor Joe Biden is expected to tighten regulations and focus on retail investors and investor protection. Hence, he put Gary Gensler in charge of his financial policy transition team and maybe makes him Clayton's successor.

November 21, 2020

SEC awards over $1 million to Whistleblower for an independent analysis

The U.S. Securities and Exchange Commission (SEC) announced an award of over $1.1 million to a whistleblower whose independent analysis led to a look at new conduct during an ongoing investigation. This whistleblower investigated publicly available materials and conducted an analysis that revealed important new insights into securities law violations.

November 21, 2020

Whistleblower Business – U.S. SEC awards $900,000 for exposing overseas violations

The U.S. Whistleblower programs of regulators such as the SEC and CFTC are becoming a lucrative business for agencies that focus on the procurement of whistleblower information. This includes activities outside the U.S. This week the SEC awarded $900,000 for the detection of securities law violations overseas. Whistleblowers get their award

November 8, 2020

Investor Protection – SEC secured $600 million for harmed investors in 2020

In the fiscal year 2020, the U.S. Securities and Exchange Commission (SEC) dealt with 715 regulatory enforcement actions addressing a broad range of significant issues. Through these actions, the SEC obtained judgments and orders totaling approximately $4.68 billion in disgorgement and penalties and returned more than $600 million to harmed investors. The Commission awarded a record $175 million to 39 whistleblowers, both the highest dollar amount and the highest number of individuals awarded in any previous fiscal year.

November 8, 2020

SEC awarded more than $32 million in whistleblower awards this week

Whistleblowers are probably the most powerful weapon of law, tax, and regulatory enforcement to combat fraud and scams. Often, only with the information of insiders can the ultimate beneficial owners behind cybercrime organizations be identified and their illegal activities be exposed. This information is worth a lot of money. The SEC has this week awarded more than €32 million in rewards and whistleblowers.