March 22, 2024/US SEC The Securities and Exchange Commission announced settled fraud charges against Stephen Scott Burns, former Chairman and CEO of bankrupt automaker Lordstown Motors Corp., for misleading investors about “pre-orders” for Lordstown’s flagship electric pickup truck called Endurance. According to the SEC’s complaint, Burns made misleading statements about […]
Frauds & Scandals
SEC Charges Two Investment Advisers with Making False and Misleading Statements About Their Use of Artificial Intelligence
March 18, 2024/US SEC The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their purported use of artificial intelligence (AI). The firms agreed to settle the SEC’s charges and pay $400,000 in […]
Fed Fines JPMorgan Chase & Co. Approximately $98.2 Million for Market Misconduct
March 14, 2024/US Federal Reserve The Federal Reserve Board on Thursday issued an enforcement action against JPMorgan Chase & Co. and fined the firm approximately $98.2 million for an inadequate program to monitor firm and client trading activities for market misconduct. The Board’s action requires JPMorgan Chase to review and […]
