Boston Investment Consulting Firm Fined By SEC
NEPC LLC, an investment consulting firm headquartered in Boston was fined $725,000 by the Securities and Exchange Commission this week for failing to file reports.
New SEC Rule: Disclose Cybersecurity Breaches in Four Days
“Whether a company loses a factory in a fire – or millions of files in a cybersecurity incident – it may be material to investors,” SEC Chair Gary Gensler said in a statement.
SEC Crypto Lawsuits Raise Questions About Industry’s Future
Industry leaders say that, with their latest actions, U.S. regulators are more clearly signaling that they seek to ensure cryptocurrency has no room in the traditional financial system.
Trade Groups Seek Significant Changes to SEC Climate Proposal
Banking and mortgage trade groups have called for the Securities and Exchange Commission to significantly revise or even abandon its proposal to require public companies to disclose climate-related risks.
Biden Administration Brings New Slate of Financial Regulators
President Joseph R. Biden’s inauguration will usher in a new slate of financial regulators in 2021 with nominate cabinet and financial regulatory agency picks that will likely emphasize a more vigorous investor and consumer protection regulatory posture and tougher enforcement.
Biden Picks Warren, Ally for CFPB Head
President-elect Joe Biden has chosen Rohit Chopra to be the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed.
Regulators Ease Volcker Rule Restrictions
The Federal Reserve and four other regulatory agencies announced on Thursday that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds.
The Provident Bank’s $102M Stock Offering Begins Tomorrow
Amesbury-based The Provident Bank faces a big day Wednesday, when its long-planned effort to go fully public will culminate in a stock offering.
SEC Charges Cape Cod Investment Adviser with Fraud
The Securities and Exchange Commission (SEC) filed an enforcement action charging a Cape Cod-based investment advisor with fraud.
BofA’s Merrill Admits Misleading Customers, to Pay $42M SEC Fine
Bank of America Corp.’s Merrill Lynch unit admitted to misleading brokerage customers about which firms processed their trades and agreed to pay a $42 million fine under a settlement with the U.S. Securities and Exchange Commission announced on Tuesday.
Transaction Costs For Fixed-Income Securities Remain Stubbornly High
Banking regulations require that financial institutions implement robust systems to monitor, manage and control risks related to investment activities.
State Street To Pay $35M For Charging Secret Markups
State Street will pay more than $35 million to the...Cambridge Hedge Fund Manager Arrested for Investment Fraud Scheme
The owner of two Cambridge-based investment advisory firms was recently arrested in Vermont in connection with a scheme to defraud hedge fund investors.
Financial Advisor Sentenced For Obstructing SEC Investigation
A Connecticut financial advisor was recently sentenced in federal court in Boston for obstructing a Securities and Exchange Commission investigation by attempting to conceal secret and improper referral payments he made in order to secure the business of a wealthy client.
SEC Charging Boston Financial Adviser With Defrauding Retirees
The Securities and Exchange Commission this week filed a complaint charging a local investment adviser and broker representative with defrauding clients.
Former Bank VP, Pats CB Admit To Multimillion Dollar Investment Scheme
A former bank vice president pleaded guilty Monday in U.S. District Court in Boston in connection with an investment scheme involving fraudulent loans to professional athletes.
SEC Obtains Judgment Against Officers, Promoters In Pyramid Scheme
A federal court in Boston recently entered final judgments against the company officers and promoters of a pyramid scheme that targeted Latino communities, the Securities and Exchange Commission (SEC) said this week.
SEC Charges Chelsea After City Self-Disclosed Bond Offer Problems
When Chelsea’s treasurer-collector learned of a voluntary disclosure program at the Securities and Exchange Commission two years ago, he decided to review prior financial filings, and turned up some minor discrepancies.
SEC Bars MA Man From Securities Industry Over Investment Scam
The Securities and Exchange Commission announced this week that it has barred a former Massachusetts man from the securities industry based on charges brought against him by a state attorney.
Morgan Stanley Pays $1 Million SEC Fine Over Stolen Customer Data
Morgan Stanley has agreed to pay a $1 million fine to...
