Legal Eagle Review
SEC Charges Private Equity Firm With Pay-to-Play Violations Involving Political Campaign Contributions
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- Written by LER
The Securities and Exchange Commission today charged a Philadelphia-area private equity firm with violating “pay-to-play” rules by continuing to receive advisory fees from the city and state pension funds following campaign contributions made by an associate in 2011 to the governor of Pennsylvania and a candidate for mayor of Philadelphia.
Justice Department and Consumer Financial Protection Bureau Reach $169 Million Settlement to Resolve Allegations of Credit Card Lending Discrimination by GE Capital Retail Bank
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- Written by Legal Eagle Review
The Department of Justice and the Consumer Financial Protection Bureau (CFPB) today announced a settlement to resolve allegations that GE Capital Retail Bank, known as of this month as Synchrony Bank, engaged in a nationwide pattern or practice of discrimination by excluding Hispanic borrowers from two of its credit card debt-repayment programs.
Cicely LaMothe Named Associate Director in the Division of Corporation Finance
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- Written by Legale Eagle Review
The Securities and Exchange Commission today announced that Cicely LaMothe has been named as an associate director in the agency's Division of Corporation Finance.
Former Attorney Pleads Guilty to Lying to Federal Investigators About His Role in a Million-Dollar Fraud Scheme
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- Written by Legal Eagle Review
Earlier today, Barry Stephen Zornberg pleaded guilty at the federal courthouse in Central Islip, New York, to lying to federal investigators about his role in a million-dollar foreclosure rescue fraud scheme. The scheme ensnared at least 10 families, defrauding them of approximately $1.3 million in home equity and caused some of them to lose their homes.
SEC Charges Hedge Fund Adviser With Conducting Conflicted Transactions and Retaliating Against Whistleblower
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- Written by LER
Washington, DC - The Securities and Exchange Commission today charged an Albany, N.Y.-based hedge fund advisory firm with engaging in prohibited principal transactions and then retaliating against the employee who reported the trading activity to the SEC. This is the first time the SEC has filed a case under its new authority to bring anti-retaliation enforcement actions.
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