SEC enforcement

As co-director of the Enforcement Division, Stephanie Avakian oversaw charges the SEC made against municipal bond “flipping” schemes.

SCANA Corp. and South Carolina Electric & Gas Co. will pay a $25 million penalty for making false and misleading statements about the failed reactor project.

An unregistered investment adviser told the city he would invest $9 million of its funds, but instead transferred some of the money to himself, the SEC found.

During his leadership, Clayton oversaw amendments to Rule 15c-12 and pushed for more transparency in the municipal market.

Public finance made up just 3% of total standalone enforcement cases.

Harvey has failed to fully implement an independent consultant's recommendations in violation of a 2014 settlement that resolved securities charges, the SEC says.

Current SEC Chair Jay Clayton will likely not be reappointed as both President Trump and Joe Biden are likely to pick chairs more aligned with their political parties.

Securities lawyers and the trade group for municipal advisors agree unregistered muni advisors shouldn't still be ignorant of the law.

Irene Carroll and her company, Funding the Gap LLC, settled with the SEC Friday for not registering as municipal advisors. The SEC said Caroll knew she provided similar services as an MA.

Eliseo Sampayo was fined $20,000, half of which will go to the Municipal Securities Rulemaking Board for violating its rules.

The settlement in which Roosevelt & Cross, Inc. agreed to pay $1 million is part of a now more than two-year crackdown on "flipping" arrangements.

Details of the pending investigation are sketchy but the legislation improved the value of a then-bankrupt FirstEnergy subsidiary's municipal bonds.

The action shows the SEC's focus on the often risky charter school sector.

A judge ruled Monday that the facts of the case supported a finding the defendants broke the law.

This is the latest case to involve 'flipping' — improperly allocating bonds meant for retail customers and instead selling them to other market participants — following multiple related actions made by the SEC over the years.

Lawyers say there could be some nuanced changes on how the SEC approaches enforcement if Clayton does leave for the U.S. Attorney job.

To win a summary judgment, a party to a lawsuit must show that there is no factual dispute at issue and that the facts of the case can only support a finding in that party’s favor.

Two executives for the failed Tri-Valley charter schools agreed to pay $20,000 and $15,000 to settle charges of misleading municipal bond investors.

A federal judge denied the SEC's motion for summary judgement against John Paulsen, setting the stage for a trial.

Issuers say Clayton’s comments on corporate disclosure from earlier this month can be applied to municipal disclosure.