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Selected Press Releases

Two UBS Advisory Firms Settle Charges Arising From Failure to Disclose Change in Investment Strategy - Settlement Will Return More Than $13 Million to Harmed Investors

10/19/2015

The Securities and Exchange Commission today announced that two UBS advisory firms have agreed to settle charges arising from their roles in failing to disclose a change in investment strategy by UBS Willow Fund LLC, a closed-end fund they advised. Read more

Former Head of Coastal Investment Advisors Settles Charges, Admits He Stole Money From Investors

10/19/2015

The Securities and Exchange Commission today announced that Michael Donnelly, the former president of Wilmington, Del.-based Coastal Investment Advisors Inc. and its affiliated broker-dealer, has agreed to settle charges that he stole nearly $2 million from his advisory clients and brokerage customers.Read more

SEC Charges Six Firms for Short Selling Violations in Advance of Stock Offerings

10/14/2015

The Securities and Exchange Commission today announced enforcement actions against six firms, including more than $2.5 million in monetary sanctions and, in the case of one previously sanctioned firm, an order barring the firm from participating in stock offerings for a period of one year as part of its ongoing enforcement initiative focused on violations of Rule 105 of Regulation M. Read more

SEC Charges New Jersey Fund Manager With Securities Fraud

10/01/2015

The Securities and Exchange Commission today charged a New Jersey fund manager and his firm with defrauding investors by lying about his credentials, concealing trading losses, and using investor funds to make Ponzi-like payments to other investors. Read more

SEC Halts $32 Million Scheme That Promised Riches From Amber Mining

10/01/2015

The Securities and Exchange Commission today announced it has filed fraud charges and obtained asset freezes against the operator of a worldwide pyramid scheme that falsely promised investors would profit from a venture purportedly backed by the company’s massive amber holdings. Read more