SEC – Administrative Proceeding against Benjamin F. Edwards & Company

Washington, DC (STL.News) The US Securities and Exchange Commission (SEC) has filed an Administrative Proceeding against Benjamin F. Edwards & Company, Inc. pursuant to Section 15(b) of the Securities and Exchange Act of 1934, and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, making findings and imposing remedial sanctions in addition to a Cease-and-Desist Order.

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SEC files Administrative Proceeding against John G. Stumpf

Washington, DC (STL.News) The US Securities and Exchange Commission has filed an Administrative Proceeding against John G. Stumpf pursuant to Section 8A of the Securities Act of 1933, and imposing a Cease-and-Desist Order.

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SEC Awards Whistleblower

SEC Awards More Than $3.6 Million and $750,000 in Separate Whistleblower

Washington, DC (STL.News) The Securities and Exchange Commission today announced two separate whistleblower awards for total payments of over $4.3 million.

In the first order, the Commission awarded a whistleblower over $3.6 million for providing important information that alerted the Commission to misconduct occurring abroad.  The whistleblower provided substantial and ongoing assistance to enforcement staff, which included traveling to another country at the whistleblower’s own expense to meet with staff in person and providing extensive supporting documentation.

In the second order, the Commission awarded $750,000 to a whistleblower who provided significant information that led the Commission to uncover an ongoing fraud.  The whistl

SEC Awards Over $28 Million to Whistleblower

Washington, DC (STL.News) The Securities and Exchange Commission today announced an award of over $28 million to a whistle-blower who provided significant information that aided the SEC in bringing a successful enforcement action.  The whistle-blower internally reported information that prompted the company to initiate an internal investigation, and saved the staff time and resources by providing testimony and identifying a key witness.

“In the past month alone, the Commission has awarded four whistle-blowers over $150 million for their important contributions to the Commission’s efforts to detect wrongdoing and protect investors and the marketplace,” said Jane Norberg, Chief of the SEC’s Office of the Whistle-blower.  “I hope our recent awards will continue to incentivize whistle-blowers to come forward to repo

SEC Files Administrative Proceeding Against Mohammed Ali Rashid

Washington, DC (STL.News) The US Securities and Exchange Commission filed an Administrative Proceeding against Mohammed Ali Rashid pursuant to Section 203(f) of the Investment Advisers Act of 1940 and given notice of hearing.

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Goldman Sachs Charged in Foreign Bribery Case and Agrees to Pay Over $2.9 Billion

Washington, DC (STL.News) The Goldman Sachs Group Inc. (Goldman Sachs or the Company), a global financial institution headquartered in New York, New York, and Goldman Sachs (Malaysia) Sdn. Bhd. (GS Malaysia), its Malaysian subsidiary, have admitted to conspiring to violate the Foreign Corrupt Practices Act (FCPA) in connection with a scheme to pay over $1 billion in bribes to Malaysian and Abu Dhabi officials to obtain lucrative business for Goldman Sachs, including its role in underwriting approximately $6.5 billion in three bond deals for Malaysia Development Bhd.(1MDB), for which the bank earned hundreds of millions in fees.  Goldman Sachs will pay more than $2.9 billion as part of a coordinated resolution with criminal and civil authorities in the United States, the

SEC files Administrative Proceeding against Paul Horton Smith, Sr.

Washington, DC (STL.News) The US Securities and Exchange Commission (SEC) has filed an Administrative Proceeding against Paul Horton Smith, Sr. pursuant to the Investment Advisers Act of 1940 and Notice of Hearing.

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SEC files Administrative Proceeding against Mustafa David Sayid, Esq.

Washington, DC (STL.News) The US Securities and Exchange Commission (SEC) has filed an Administrative Proceeding against Mustafa David Sayid, Esq. pursuant to Rule 102(e)(3)(i) of the commissions’s Rules of Practice.

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SEC files Administrative Proceeding against Norman T. Reynolds, ESQ

Washington, DC (STL.News) The US Securities and Exchange Commission (SEC) has filed an Administrative Proceeding (File No. 3-20136) against Norman T. Reynolds, ESQ. pursuant to rule 102(e)(3)(i) of the commission’s Rules of Practice.

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SEC Issues Record $114 Million Whistleblower Award

Washington, DC (STL.News) The Securities and Exchange Commission today announced an award of over $114 million to a whistleblower whose information and assistance led to the successful enforcement of SEC and related actions.

The $114 million award consists of an approximately $52 million award in connection with the SEC case and an approximately $62 million award arising out of the related actions by another agency.  The combined $114 million reward marks the highest award in the program’s history, and eclipses the next highest award of $50 million made to an individual in June 2020.

“Today’s milestone award is a testament to the Commission’s commitment to award whistleblowers who provide the agency with high-quality information,” said SEC Cha

SEC files Administrative Proceeding Against The Goldman Sachs Group

Washington, DC (STL.News) The US Securities and Exchange Commission filed an Administrative Proceeding against the giant brokerage firm, The Goldman Sachs Group, Inc. pursuant to Section 21C of the Securities Exchange Act of 1934 imposing a Cease-and-Desist Order.

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