June 17, 2021

U.S. judge approves but critiques SEC’s ‘phantom’ deal with [Cayman Islands] bank

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By Nate Raymond | NEW YORK From Reuters The U.S. Securities and Exchange Commission on Wednesday won approval of a settlement with failed Cayman Islands-based Caledonian Bank Ltd, despite criticism by a federal judge of the regulator’s handling of the case and of the accord itself. U.S. District Judge William Pauley in Manhattan questioned whether […]

Is Greenlight Capital Re Ltd Stock a Sell after Ian Isaacs’s Insider Sale?

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By Winifred Garcia From Press Telegraph Ian Isaacs Insider Sell Insider sale amounting to close to $257,358 USD was made public online in a report submitted to the Security and Exchange Commission on 08/09/2016. According to which, Ian Isaacs, the director of Greenlight Capital Re Ltd also an insider of the Cayman Islands-based company had […]

US: SEC Fines California Health Insurer $340,000 For Breaking Whistleblower Protection Laws

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By Kate Cox From Consumerist When a business is doing something shady and illegal, often the best-placed people to know about it are the employees who are supposed to carry it out. That’s why there are laws in place to protect whistle-blowers who report their employers to the appropriate authorities… and breaking those laws can […]

$415M Merrill Lynch Settlement Spurs SEC to Boost Enforcement

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From Mark Hamblett, From New York Law Journal Gambling with customer money that was supposed to be set aside for its own rainy day cost Bank of America’s Merrill Lynch $415 million in a settlement Thursday and prompted a stepped-up enforcement and monitoring effort by the U.S. Securities and Exchange Commission. Andrew Ceresney, director of […]

SEC says firm ripped off class action investors

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By Cheryl Miller, From The Recorder SACRAMENTO — The Securities and Exchange Commission charged a Los Angeles firm and its co-founders with defrauding more than 250 investors who were promised huge returns on a business recruiting plaintiffs for lucrative class actions and other litigation. Instead, James Catipay and David Aldrich only spent about one-third of the […]

SEC accuses Biotech VC of siphoning funds

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By Ross Todd, From The Recorder SAN FRANCISCO — Prominent biotech venture capitalist G. Steven Burrill has agreed to pay nearly $5.8 million to settle charges that he redirected money from one of his funds to prop up other flagging investments and to pay for his luxurious lifestyle. The Securities and Exchange Commission alleged that Burrill […]

In a first, SEC offers DPA to Exec accused of bribery

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By Sue Reisinger, From Corporate Counsel Two subsidiaries of Massachusetts software company PTC Inc. agreed to pay more than $28 million in civil and criminal penalties Tuesday to resolve federal investigations into payments for recreational trips for Chinese government officials, in violation of the U.S. Foreign Corrupt Practices Act. As part of the case, the Securities […]

Judge orders SEC to stop dawdling on disclosure rule

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By Sheri Qualters, from The National Law Journal A Boston federal judge ordered the U.S. Securities and Exchange Commission to speed up rulemaking that will require energy companies to disclose their payments to governments in exchange for commercial development of natural resources. U.S. District Judge Denise J. Casper on Sept. 2 sided with plaintiff Oxfam […]

CB Pharma Acquisition Corp. announces closing of initial public offering

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BURLINGTON, Mass., Dec. 18, 2014 (GLOBE NEWSWIRE) — CB Pharma Acquisition Corp. (Nasdaq:CNLMU) (“CB Pharma” or the “Company”), a Cayman Islands exempted company formed as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or […]

The Herzfeld Caribbean Basin Fund, Inc. announces results of heavily oversubscribed rights offering

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MIAMI BEACH, FL, Dec 08, 2014 (Marketwired via COMTEX) — The Herzfeld Caribbean Basin Fund, Inc. CUBA, -1.54% (the “Fund”) is pleased to announce the completion and success of its one-for-three non-transferable rights offering which expired on December 4, 2014, in which more than 1.8 million shares of common stock will be issued, totaling approximately […]