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Outline of Selected SEC Enforcement Actions, Division of Enforcement (October 2016)

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Outline of Selected SEC Enforcement Actions, Division of Enforcement (October 2016) © Practising Law Institute CORPORATE LAW AND PRACTICE Course Handbook Series Number B-2303 The SEC Speaks in 2017 Co-Chairs David W. Grim Marc Wyatt To order this book, call (800) 260-4PLI or fax us at (800) 321-0093. Ask our Customer Service Department for PLI Order Number 186008, Dept. BAV5. Practising Law Institute 1177 Avenue of the Americas New York, New York 10036 © Practising Law Institute Enforcement Panel and Workshop 41 © Practising Law Institute 42 © Practising Law Institute 3 Outline of Selected SEC Enforcement Actions, Division of Enforcement (October 2016) Prepared by: Sherry A. Peyton Research Specialist Seth Groveunder Intern The SEC (SEC), as a matter of policy, disclaims responsibility for any private publication or statement by any of its employees. The views expressed herein are those of the authors and do not necessarily reflect the views of the SEC or of the authors’ colleagues upon the staff of the SEC. Parts of this outline have been used in other publications. If you find this article helpful, you can learn more about the subject by going to www.pli.edu to view the on demand program or segment for which it was written. 43 © Practising Law Institute 44 © Practising Law Institute Table of Contents ACTIONS INVOLVING BROKER-DEALERS, INVESTMENT ADVISERS AND INVESTMENT COMPANIES AND OTHER REGULATED ENTITIES ......................................................................... 9 In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated ........................................................................................ 11 In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated Professional Clearing Corp. ........................................... 13 In the Matter of William Tirrell ............................................................. 15 SEC v. Ash Narayan, et al. ................................................................. 19 In the Matter of Apex Fund Services (US), Inc. - ClearPath ............... 21 In the Matter of Apex Fund Services (US), Inc. – EquityStar and Steven Zoernack ........................................................ 23 In the Matter of Morgan Stanley Smith Barney LLC ........................... 25 In the Matter of Galen J. Marsh .......................................................... 27 SEC v. Richard W. Davis, Jr., et al. .................................................... 29 In the Matter of Albert Fried & Company, LLC .................................... 31 In the Matter of Blackstreet Capital Management, LLC and Murry N. Gunty .................................................................................... 33 SEC v. Hope Advisors, LLC, et al. ...................................................... 35 In the Matter of Central States Capital Markets, LLC, et al. ............... 37 In the Matter of Royal Alliance Associates, Inc., et al. ........................ 39 In the Matter of Charles P. Grom ........................................................ 41 In the Matter of E.S. Financial Services, Inc. n/k/a/ Brickell Global Markets, Inc. ............................................................... 43 In the Matter of Goldman, Sachs & Co. .............................................. 45 In the Matter of Steven A. Cohen ........................................................ 47 In the Matter of J.P. Morgan Securities LLC ....................................... 49 In the Matter of Morgan Stanley Investment Management Inc. and Sheila Huang ................................................... 51 In the Matter of SG Americas Securities, LLC and Yimin Ge ............. 53 SEC v. Martin Shkreli, et al. ................................................................ 55 In the Matter of Owen Li and Canarsie Capital, LLC .......................... 57 In the Matter of Marwood Group Research, LLC ................................ 59 In the Matter of JH Partners, LLC ....................................................... 61 In the Matter of Virtus Investment Advisers, Inc. ................................ 69 In the Matter of Cherokee Investment Partners, LLC and Cherokee Advisers, LLC ..................................................................... 71 In the Matter of Fenway Partners, LLC, et al. ..................................... 77 In the Matter of DBRS, Inc. ................................................................. 79 In the Matter of UBS AG ..................................................................... 81 In the Matter of Blackstone Management Partners L.L.C., et al. .......................................................................... 83 5 45 © Practising Law Institute ACTIONS INVOLVING THE FOREIGN CORRUPT PRACTICES ACT ............. 85 In the Matter of Analogic Corporation and Lars Frost ......................... 87 SEC and Akamai Technologies, Inc. .................................................. 89 SEC and Nortek, Inc. .......................................................................... 91 In the Matter of Las Vegas Sands Corp. ............................................. 93 In the Matter of Novartis AG ............................................................... 95 In the Matter of Qualcomm Incorporated ............................................ 97 SEC v. VimpelCom, Ltd. ..................................................................... 99 In the Matter of PTC, Inc. .................................................................. 101 In the Matter of Yu Kai Yuan ............................................................. 103 In the Matter of SciClone Pharmaceuticals, Inc. ............................... 105 ACTIONS INVOLVING PUBLIC FINANCE ABUSE ........................................ 106 SEC v. Juan Rafael Rangel .............................................................. 107 In the Matter of Keygent LLC, Anthony Hsieh, and Chet Wang ....... 109 In the Matter of School Business Consulting, Inc. and Terrance Bradley ................................................................. 111 SEC v. Eric J. Kellogg ....................................................................... 113 SEC v. Town of Ramapo, et al. ......................................................... 115 In the Matter of Central States Capital Markets, LLC, et al. ............. 119 In the Matter of Westlands Water District, et al. ............................... 121 SEC v. Rhode Island Commerce Corporation, et al. ........................ 123 In the Matter of First Southwest Company, LLC ............................... 125 Municipalities Continuing Disclosure Cooperation Initiative (22 Underwriting Firms) ...................................................... 127 In the Matter of State Street Bank and Trust Company .................... 129 In the Matter of Vincent J. DeBaggis ................................................ 131 SEC v. Robert B. Crowe ................................................................... 133 ACTIONS INVOLVING VIOLATIONS OF INSIDER TRADING ....................... 134 SEC v. Sanjay Valvani and Gordon Johnston .................................. 135 SEC v. Christopher Plaford ............................................................... 137 SEC v. Stefan Lumiere ...................................................................... 139 SEC v. Peter D. Nunan ..................................................................... 141 SEC v. Steven V. McClatchey and Gary J. Pusey ............................ 143 SEC v. William T. Walters and Thomas C. Davis ............................. 145 SEC v. Jay Y. Fung ........................................................................... 149 SEC v. Daryl M. Payton, et al. .......................................................... 151 SEC v. Bonan Huang, et al. .............................................................. 153 SEC v. Dennis Wayne Hamilton ....................................................... 155 SEC v. Yue Han and Wei Han .......................................................... 157 ACTIONS INVOLVING ISSUER FRAUD, DISCLOSURE AND REPORTING ........................................................................................... 159 In the Matter of IEC Electronics Corp., et al. ..................................... 161 SEC v. First Mortgage Corporation, Inc., et al. ................................. 163 In the Matter of Logitech International, S.A., et al. ............................ 165 SEC v. Erik K. Bardman and Jennifer F. Wolf .................................. 167 6 46 © Practising Law Institute In the Matter of Ener1, Inc., et al. ...................................................... 169 In the Matter of Robert D. Hesselgesser, CPA ................................. 171 In the Matter of Navistar International Corporation ........................... 173 SEC v. Daniel C. Ustian .................................................................... 175 SEC v. Reed J. Killion, et al. ............................................................. 177 SEC v. Marrone Bio Innovations, Inc. ............................................... 179 In the Matter of Donald J. Glidewell, CPA ......................................... 181 In the Matter of Julieta Favela Barcenas .......................................... 183 SEC v. Hector M. Absi, Jr. ................................................................ 185 In the Matter of Barclays Capital, Inc. ............................................... 187 In the Matter of Credit Suisse Securities (USA) LLC ........................ 189 In the Matter of Ocwen Financial Corp. ...........................................
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