Topic: SEC

The US Securities and Exchange Commission has settled charges against Robert D. Press, the former CEO of advisory firm TCA Fund Management Group Corp (TCA) and a portfolio manager, Donna Silverman, for artificially inflating the net asset values and performance results of several Cayman funds they managed.

Cayman-incorporated direct-selling company Herbalife Nutrition Ltd has agreed to pay $20 million to settle charges that it misled investors over its China operations in...

Because the SEC has made it so costly, time consuming, and restrictive for entrepreneurs to issue stock, they, of course, try to find other ways to raise capital.

A U.S. district judge for the Southern District of New York has approved a consent order between the U.S. Securities and Exchange Commission and the liquidators of Caledonian, paving the way for a settlement in the case against the bank and its brokerage for their alleged role in facilitating a number of penny stock pump-and-dump schemes.

The U.S. Securities and Exchange Commission’s Office of Inspector General is evaluating a perceived lack of coordination involving the commission’s case against Caledonian and several other cases with overlapping factual circumstances.

Documents submitted by the U.S. Securities and Exchange Commission to a U.S. court in February have shed new light on the involvement of Caledonian executives and clients in trading securities used in four penny stock manipulation fraud schemes.

Caledonian Bank and the U.S. Securities and Exchange Commission have agreed to a settlement that permanently bars the Cayman bank and its subsidiaries from trading in penny stocks and imposes a $25 million fine, though the U.S. regulator says it will forgo the payment so Caledonian can pay its creditors.