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 […]
Frauds & Scandals
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 […]
SEC Charges 17 Individuals in $300 million Crypto-Asset Ponzi Scheme Targeting the Latino Community
March 14, 2024/US SEC The Securities and Exchange Commission today charged 17 individuals for their roles in a $300 million Ponzi scheme that involved Houston, Texas-based CryptoFX LLC and targeted more than 40,000 predominately Latino investors in the U.S. and two other countries. Today’s complaint follows the SEC’s successful emergency […]