U.S. Securities And Exchange Commission
State Government: Agencies/Departments/Divisions | State Boards & Commissions
Recent News About U.S. Securities And Exchange Commission
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Illinois unclaimed property rules for gift cards, other securities, could soon change
A proposed new law could change the rules in Illinois concerning unclaimed property - and particularly, unclaimed gift cards and unclaimed property from business-to-business transactions, both of which may no longer be exempt from reverting to the state. -
Judge: SEC OK to continue suit vs Navistar CEO for misleading investors on development of diesel engine
A Chicago federal judge will allow the Securities and Exchange Commission to continue the bulk of its legal action against the former president and CEO of Navistar for allegedly misleading investors and the federal government by lying about Navistar’s development of a new diesel engine that met heightened emissions standards. -
Harvey mayor to pay $10K to settle SEC complaint over misuse of city's muni bonds
The mayor of Harvey has quickly agreed to pay a $10,000 fine as part of a settlement reached with the federal Securities and Exchange Commission, ending a legal action the financial watchdog agency launched over allegations the suburban city had improperly steered nearly $2 million in investors’ money away from an advertised hotel development project to the city’s general coffers. -
Judge orders Ditto Trade to pay fired whistleblowing ex-CEO $2.7 million
A Chicago federal judge has ordered Chicago online brokerage firm Ditto Trade to pay $2.7 million to its former chief executive officer, for allegedly firing him because he informed federal securities regulators of possible misconduct by a high official with the firm. -
Part-time clerk or not, man must face arbitration over accusations he stole data before leaving UBS for competitor, judge says
A Chicago federal judge has refused to halt arbitration proceedings brought by investment firm UBS Financial Services against a former clerk, whom UBS has alleged helped steal company information with which to lure away customers. Alexander Freund worked as a part-time clerk for UBS in Chicago from Nov. 7, 2011, to Feb. 15, 2012, when he left to work for Wells Fargo. -
Chicago attorneys sue former clients, alleging breach of contract
A Chicago law firm is suing several former clients, alleging breach of contract. -
Former part-time clerk asks judge to rein in UBS' efforts to lasso him in FINRA arbitration worth millions
A former clerk with UBS Financial Services in Chicago went to Chicago federal court last week, arguing the Financial Industry Regulatory Authority has no jurisdiction over him in a multi-million dollar arbitration action, brought against him by UBS for allegedly breaching his employment contract. On Sept. 10, Alexander Freund lodged a two-count complaint against New Jersey-headquartered UBS Financial Services, seeking declaratory judgment and an injunction. -
Judge delivers wins to both sides in former Ditto Trade CEO Simons' battle vs. online brokerage over dismissal, defamation
A former chief executive officer of Chicago-based social brokerage firm Ditto Trade has secured a victory – mostly –over claims made against him in an ongoing legal battle with his former employers, who have alleged the former CEO worked to “undermine” the company after he was fired just nine months into his tenure. -
Judge issues emergency order blocking bond sales in City of Harvey
A federal judge has temporarily barred the City of Harvey from selling municipal bonds. -
SEC accuses City of Harvey, comptroller of diverting bond proceeds; seeks restraining order to prevent future sales
The City of Harvey and its comptroller have diverted at least $1.7 million of bond proceeds earmarked for a hotel redevelopment project, according to the U.S. Securities and Exchange Commission.