Tag

Misleading Disclosures

All articles tagged with #misleading disclosures

finance1 year ago•2 min saved

Cantor Fitzgerald Settles SEC Charges for Misleading SPAC Disclosures

The SEC has charged Cantor Fitzgerald with causing two SPACs it controlled to make misleading statements to investors before their IPOs, resulting in a $6.75 million civil penalty. The SPACs, CF Finance Acquisition Corp. II and CF Acquisition Corp. V, falsely claimed in SEC filings that they had not engaged in discussions with potential merger targets, despite having done so. Cantor Fitzgerald agreed to settle the charges without admitting or denying the findings.

via SEC.gov|

#cantor-fitzgerald #finance #ipo

finance2 years ago•3 min saved

SEC Alleges Virtu Financial's False Disclosures and Customer Information Leakage

The Securities and Exchange Commission (SEC) has charged Virtu Americas LLC and its parent company, Virtu Financial Inc., for making false and misleading statements regarding information barriers to prevent the misuse of sensitive customer information. The SEC alleges that Virtu Americas failed to safeguard a database containing customer orders and other nonpublic information, which was accessible to virtually anyone within the company. During this period, Virtu misled customers about the existence and adequacy of information barriers. The SEC seeks permanent injunctive relief, disgorgement, and civil penalties.

via SEC.gov|

#customer-data-protection #finance #information-barriers