The Securities and Exchange Commission (SEC) has made an official announcement regarding the settlement of charges against registered investment adviser AssetMark Inc., based in Concord, California. AssetMark has agreed to pay an amount exceeding $18 million to resolve allegations pertaining to undisclosed conflicts of interest related to a cash sweep program operated by its affiliated [...]

The Securities and Exchange Commission (SEC) has made an official announcement regarding the resolution of charges against New York-based Bruderman Asset Management LLC (BAM) and its principal, Matthew J. Bruderman. The charges stem from their failure to disclose the improper use of proceeds obtained from investment advisory clients and their failure to implement adequately designed [...]

The Securities and Exchange Commission (SEC) has taken legal action against Matthew Motil, the host of the podcast "The Cash Flow King," on charges of orchestrating a fraudulent Ponzi scheme that raked in approximately $11 million from over 50 investors. This scheme purportedly involved promissory notes supposedly backed by residential properties. According to the SEC's [...]

The Securities and Exchange Commission (SEC) has taken action against GTT Communications, Inc., alleging the company's failure to disclose crucial information regarding unsupported adjustments made in its Commission filings. These adjustments significantly inflated GTT's reported operating income by a minimum of 15 percent over three quarters spanning from 2019 through 2020. In a notable gesture, [...]

The Securities and Exchange Commission (SEC) has announced that American Infrastructure Funds LLC (AIM), a registered investment adviser based in Foster City, California, has reached a settlement in which it will pay over $1.6 million to resolve charges stemming from various violations. These violations include the acceleration of monitoring fees from portfolio companies, the transfer [...]

The Securities and Exchange Commission (SEC) has officially declared that it has resolved charges against Citadel Securities LLC, a broker-dealer, concerning a violation of a provision within Regulation SHO. Regulation SHO is a regulatory framework designed to combat abusive short selling practices. It mandates that broker-dealers must accurately classify sale orders as long, short, or [...]

The Securities and Exchange Commission (SEC) has made an official announcement regarding the resolved charges against Goldman Sachs & Co. LLC. These charges pertain to the firm's failure to provide complete and accurate securities trading data, commonly referred to as "blue sheet data," to the SEC. As part of the resolution, Goldman has agreed to [...]

The U.S. Securities and Exchange Commission (SEC) has made a significant announcement concerning Aras Investment Business Group S.A.P.I. de C.V., a Mexico-based company, its CEO Armando Gutierrez Rosas, and four individuals. The charges revolve around an elaborate fraud scheme that saw the fraudulent raising of at least $15 million from over 450 retail investors in [...]

MJ Capital Funding LLC board member Pavel Ruiz Hernandez has been sentenced to over nine years in prison for his involvement in a $190 million investment Ponzi scheme conducted through the Florida-based company. U.S. District Judge Rodney Smith issued a sentence of 110 months in prison, along with an additional three years of supervised release, [...]