Securities and Exchange Commission News

SEC Warns GE of Possible Securities Violations in Its Insurance Accounting

General Electric said on Tuesday it has received a notice from U.S. Securities and Exchange Commission staff, warning that the company could face a civil action for possible violations of securities laws related to accounting practices for some of its …

U.S. Needs an SEC for Its Health Care System: Opinion

The U.S. health care system suffers from a lack of transparency. Employers, insurers and individual consumers pay varying prices for treatments, drugs and digital information of varying quality, without knowing whether the prices are relatively high or low, or whether …

Allianz Confirms SEC Probing Its ‘Structured Alpha’ Funds, Subject to Investor Lawsuit

Allianz said on Wednesday that it was fielding a request for information from the U.S. Securities and Exchange Commission over a series of funds that suffered sharp losses amid the coronavirus-led market meltdown earlier this year and are the subject …

AmTrust, Ex-CFO to Pay $10.5M to Settle SEC Charges Of Improper Reporting

The Securities and Exchange Commission (SEC) has charged insurance company AmTrust Financial Services and Ronald E. Pipoly Jr., its former chief financial officer, with failing to disclose material facts about how the company estimated its insurance losses and reserves for …

Argo Group to Pay $900,000 to SEC for Failing to Fully Disclose CEO Perks

Argo Group International Holdings will pay $900,000 to the Securities and Exchange Commission for failing to fully disclose perks and benefits provided to its former chief executive officer. In proxy statements filed from 2014 through 2018, Argo failed to disclose …

SEC Pursues Coronavirus Fraudsters With Help From Whistleblowers

The novel coronavirus outbreak and economic fallout is proving to be a bonanza for whistleblower lawyers as the U.S. securities regulator cracks down on a range of related misconduct from companies touting sham cures to misuse of federal aid. The …

SEC Enforcement Activity Up From Last Year; One Case Affected 8,400 Investors

Enforcement activity by the U.S. Securities and Exchange Commission in fiscal 2019 resulted in $4.3 billion in fines and disgorgements, up from $3.9 billion a year earlier, the regulator said on Wednesday. Those fines and disgorgements – or the return …

SEC Investigating Valic, AIG’s Teacher Retirement Plan Unit, Reports WSJ

The U.S. Securities and Exchange Commission is probing sales and disclosure practices at Valic, a unit of U.S. insurer American International Group Inc, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. The inquiry centers on …

States Take Aim at SEC’s New Broker-Dealer Adviser Rule

New York and a half dozen other states accused the Securities and Exchange Commission of botching a final regulation intended to protect broker-dealer customers from conflicts of interest under the landmark Dodd-Frank Act passed nearly a decade ago. The new …

Safe Auto in Ohio Files Registration Statement with SEC for IPO

Columbus, Ohio-based Safe Auto Insurance Group Inc. announced it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common shares. The number of shares to …