The United States Securities & Exchange Commission is investigating Robinhood Markets over its sale of its...
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Category: SEC Whistleblower
SEC investigating Robinhood for selling its client stock market orders to high-frequency traders
The United States Securities & Exchange Commission is investigating Robinhood Markets over its sale of its...
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Nasdaqs temporary operations move to Chicago may stymie high speed traders’ front-running gambit or will they evade it?
High-frequency traders and hedge funds which have an advantage to "see" orders and buy shares based on what others are trading, then sell them at fractionally higher prices. This is a form of front running and many are now saying...
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SEC orders Telegram Group to give back $1.2 Billion to investors for unregistered digital tokens and pay $18.5 million penalty
The Securities and Exchange Commission (SEC) has ordered the Telegram Group Inc. (Telegram) and its wholly-owned subsidiary, TON Issuer Inc to repay $1.2 Billion to investors for violating federal securities laws in their unregistered offering of digital tokens called “Grams.” Telegram must return more...
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Securities and Exchange Commission may increase its investigations of U.S. Sanctions violations by companies
Late last year, the Securities and Exchange Commission (“SEC”) penalized a public company for violating U.S. economic sanctions. The violation cited the “books and records” and “internal controls” provisions of the Securities Exchange Act of 1934 (the “Exchange Act”). On September 26, 2019, the SEC issued an Order instituting...
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Securities & Exchange Commission investigates Robinhood for selling clients’ orders to high speed trading firms
Robinhood Markets Inc. is under investigation by the Securities & Exchange Commission for failing to disclose its practice of selling clients’ orders to high-speed trading firms, according to Bloomberg News, quoting sources. Prior reports of SEC filings supported the reports of high-frequency trading firms paying Robinhood 10 times as much as they pay to...
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SEC awards Wall Street analyst whistleblowers $2.5 million for unveiling accounting violations by Orthofix International
Two Wall street investment advisers that were analyzing the financial documents of a Texas medical device company Orthofix International, noticed some inconsistencies in those reports. They decided to look more closely, all based upon the publicly available submissions to the Securities & Exchange Commission, and they did some statistical modeling to help. The concluded...
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Boston based Alexion Pharmaceuticals pays $21.5 million to settle charges of foreign bribes in Turkey, Russia and Brazil to sell their drugs
Boston-based Alexion pharmaceutical company, agreed to pay $21.5 million to settle charges it violated the Foreign Corrupt Practices Act (FCPA). A settlement, announced by the Securities and Exchange Commission (SEC), alleges that the company’s foreign subsidiaries in Turkey and Russia paid government officials to promote their drugs and that their Brazilian and Columbian subsidiaries...
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Alexion Pharmaceuticals agrees to pay $21 million to settle SECcharges of foreign bribes for Soliris to Turkish and Russian officials
The Securities and Exchange Commission today announced that Boston-based pharmaceutical company Alexion Pharmaceuticals Inc. has agreed to pay more than $21 million to resolve charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA).
According to the SEC’s order,...
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