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Citigroup Settlement with SEC blocked by Federal Judge

A federal judge in New York on Monday threw out a settlement between the Securities and Exchange Commission and Citigroup over a 2007 mortgage derivatives deal, saying that the S.E.C.’s policy of settling cases by allowing a company to neither admit nor deny the agency’s allegations did not satisfy the law. The judge, Jed S. […]

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FINRA Dispute Resolution Statistics

Summary Arbitration Statistics October 2011   New Case Filings through October: 2009 2010 2011 2011 vs 2010 6,114 4,768 4,033 -15%   Number of Cases Closed through October: 2009 2010 2011 2011 vs 2010 3,683 5,129 5,196 -1%   Turnaround Time* (in months) through October:   2009 2010 2011 2011 vs 2010 Overall 11.5 12.5 14.2 […]

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SEC Halts Scam Touting Access to Pre-IPO Shares of Facebook and Groupon

The Securities and Exchange Commission today filed an emergency enforcement action to stop a fraudulent scheme targeting investors seeking coveted stock in Internet and technology companies like Facebook and Groupon in advance of a public offering. The SEC alleges that Florida resident John A. Mattera and several other individuals carried out the scam using a […]

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Final Judgement Entered in Insider Trading Case

The Securities and Exchange Commission announced that the Honorable Deborah A. Batts of the United States District Court for the Southern District of New York entered final judgments against Dr. Joseph F. Skowron III and Dr. Yves M. Benhamou in the SEC’s insider trading case, SEC v. Joseph F. “Chip” Skowron III, et al., Civil Action […]

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The Securities and Exchange Commission charged a Bethesda, Md. man and several family members and friends with conducting a multi-million dollar Ponzi scheme targeting investors in the Washington D.C. metropolitan area. The SEC alleges that Garfield M. Taylor lured primarily middle-class residents in his community with little to no investing experience to invest in promissory notes […]

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