Securities and Exchange Commission Archives - The Industry Spread

SEC Awards $50 Million to Two Whistleblowers

April 1, 2019

The Securities and Exchange Commission today announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.  One whistleblower received an award of $37 million and the other received an award of $13 million.  The $37 million award is the Commission’s third-highest award to date after the $50 million award made in March 2018 to joint whistleblowers and more than $39 million award announced in September 2018.  

SEC Names Danae M. Serrano as Ethics Counsel

March 31, 2019

The Securities and Exchange Commission today announced that Danae M. Serrano has been named the agency’s Ethics Counsel. Ms. Serrano has served as Acting Ethics Counsel since December 2018. 

SEC Names Jeffrey Dinwoodie Senior Counsel and Policy Advisor for Market and Activities-Based Risk

March 30, 2019

The Securities and Exchange Commission today announced that Jeffrey T. Dinwoodie has been appointed Senior Counsel and Policy Advisor for Market and Activities-Based Risk.  Chairman Jay Clayton has created this senior officer position to manage and coordinate the agency’s efforts to identify, monitor and respond to market risks—including activities-based risks—affecting the U.S. capital markets. 

SEC Charges Lumber Liquidators With Fraud

March 15, 2019

The Securities and Exchange Commission today announced charges against Lumber Liquidators Holdings Inc. for making fraudulent misstatements to investors.  The charges stem from Lumber Liquidators’ false public statements in response to media allegations that the company was selling laminate flooring that contained levels of formaldehyde exceeding regulatory standards.  Lumber Liquidators agreed to pay more than $6 million to settle the SEC action.

Tradeweb Files for Initial Public Offering With CFTC

March 10, 2019

The net proceeds from the offering will be used to purchase equity interests from certain existing owners, although Refinitiv will continue to own a controlling interest in the company following the Initial Public Offering.

SEC Charges Audit Firm and Suspends Accountants for Deficient Audits

December 26, 2018

The Securities and Exchange Commission today filed settled charges against national audit firm Crowe LLP, two of its partners, and two partners of a now-defunct audit firm for their significant failures in audits of Corporate Resource Services Inc., which went bankrupt in 2015 after the discovery of approximately $100 million in unpaid federal payroll tax liabilities.

SEC Charges Former Panasonic Executives

December 20, 2018

The Securities and Exchange Commission today charged two former senior executives of the U.S. subsidiary of Panasonic Corp. with knowingly violating the books and records and internal accounting controls provisions of the federal securities laws and causing similar violations by the parent company.