—-Obtains Consent to Appoint Receiver to Preserve Investor Assets March 25, 2019/US SEC On March 22, 2019, the Securities and Exchange Commission charged registered investment adviser Direct Lending Investments, LLC with a multi-year fraud that resulted in approximately $11 million in over-charges of management and performance fees to its private […]
Frauds & Scandals
SEC Settles with Multiple Defendants in Market Manipulation Case and Amends Complaint as to Thirteen Remaining Defendants
March 23, 2019/US SEC On March 8, 2019, the Securities and Exchange Commission filed an amended complaint in an ongoing civil action in which the SEC alleges that numerous individuals and associated entities participated in microcap schemes that generated over $27 million from unlawful stock sales. The amended complaint includes […]
Merrill Lynch to Pay Over $8 Million for Improper Handling of ADRs
March 22, 2019/US SEC The Securities and Exchange Commission today announced that Merrill Lynch, Pierce, Fenner & Smith Incorporated will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). ADRs – U.S. securities that represent foreign shares of a foreign company – require […]
