December 9, 2024/US SEC The Securities and Exchange Commission today charged Morgan Stanley Smith Barney LLC (MSSB) with failing to reasonably supervise four investment adviser and registered representatives (hereafter, financial advisors) who stole millions of dollars of advisory clients’ and brokerage customers’ funds and for failing to adopt policies and […]
Frauds & Scandals
SEC Charges Ken Leech, Former Co-Chief Investment Officer of Western Asset Management Co., with Fraud
December 3, 2024/US SEC On November 25, 2024, the Securities and Exchange Commission charged Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment adviser Western Asset Management Company LLC or WAMCO, for engaging in a multi-year scheme to allocate favorable trades to certain portfolios, while allocating […]
SEC Charges Former CEO of Biotherapeutics Company with Misleading Investors about Status of FDA Reviews
December 3, 2024/US SEC The Securities and Exchange Commission today filed settled charges against Maurizio Chiriva-Internati, the former CEO of Houston-based biotherapeutics company, Kiromic BioPharma, Inc., for failing to disclose material information about Kiromic’s two cancer fighting drug candidates before, during, and after a July 2, 2021 follow-on public offering […]