SEC enforcement

The agency says the biotech magnate and nine others made $27 million pumping up penny stocks.

The firm allegedly encouraged clients to use an affiliated investment advisor, and benefitted from the fees it charged them.

The SEC says the 33% owner of the parent of the IBD network participated in unlawful microcap stock sales resulting in “virtually worthless” investments.

In response to a Supreme Court ruling, the regulator will revisit 126 legal proceedings, including nearly two dozen advisor cases.

Joel N. Burstein allegedly helped his father-in-law defraud foreign investors hoping to immigrate to the U.S.

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

The broker forged client signatures on annuity withdrawal requests and misled clients into making what they thought were tax payments, the SEC claims.

The advisor defrauded some 60 victims by using their money to pay off earlier investors, fund his own speculative trading and pay his personal expenses, the SEC claims.

“Our whistle-blower program is a critical component in our investor-protection toolbox,” SEC Chairman Jay Clayton says.

Other states are likely to enter similar agreements with the broker-dealer.