The UBS dark pool was not a level playing field for all customers... by Andrew Ceresney

The UBS dark pool was not a level playing field for all customers and did not operate as advertised.

Andrew Ceresney

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Categorized in : Company News

Simply put, Mickelson made money that wasn't his to make. by Andrew Ceresney

Simply put, Mickelson made money that wasn't his to make.

Andrew Ceresney

There will be more cases like that. by Andrew Ceresney

There will be more cases like that.

Andrew Ceresney

Establishing fraudulent intent is one of the most challenging issues in our investigations, and emails and other electronic messages are often the only direct evidence of that state of mind.

Andrew Ceresney

I can't talk about the details of ongoing investigations, but I can say there are a number of investigations in which, if we were exercising our authority ... to obtain emails from (internet service providers), we would do that.

Andrew Ceresney

The SEC relies on the accuracy of the books and records of financial institutions and blue sheet data, oZ Management's inaccurate data had a substantial ripple effect that the SEC staff discovered through diligent investigative work.

Andrew Ceresney

Deutsche Bank failed to make reasonable judgments when valuing its positions and lacked robust internal controls over financial reporting.

Andrew Ceresney

BHP Billiton recognized that inviting government officials to the Olympics created a heightened risk of violating anti-corruption laws, yet the company failed to implement sufficient internal controls to address that heightened risk.

Andrew Ceresney

This action should send the message that there will be consequences for such lapses, when companies cease disclosures to the public and go dark, they must ensure that they accurately count their holders of record, so that investors are not deprived of information they are entitled to under the law.

Andrew Ceresney

As proved at trial, as CEO of a public company, Willie Gault filed false certifications with the SEC and knowingly circumvented the company's internal controls.

Andrew Ceresney

One significant type of key event that we see causing problems with disclosure in your industry is disclosures on your dealings with the (Food and Drug Administration), accuracy of reporting in your dealings with the FDA is critical to getting investors the information they need. FDA dealings and approvals are the lifeblood of your business and are so important to investment decisions.

Andrew Ceresney

The message from these cases is that you need to be completely accurate in recounting your dealings with the FDA, so much turns on those interactions and not being straight with investors will have significant consequences.

Andrew Ceresney

We are pleased with the judgment and will take every available st... by Andrew Ceresney

We are pleased with the judgment and will take every available step to enforce it.

Andrew Ceresney

Judging by the numbers, I find it hard to believe that the industry as a whole is fulfilling its obligations.

Andrew Ceresney

The bottom line is that S&P used criteria that (were) less string... by Andrew Ceresney

The bottom line is that S&P used criteria that (were) less stringent but lied to investors about it.

Andrew Ceresney

Investors rely on credit rating agencies like Standard & Poor's to play it straight when rating complex securities, but Standard & Poor's elevated its own financial interests above investors by loosening its rating criteria to obtain business and then obscuring these changes from investors.

Andrew Ceresney

Broker-dealers become important gatekeepers when they provide customers direct access to our securities markets, and in this case Morgan Stanley did not live up to that responsibility.

Andrew Ceresney

In ordering this significant monetary relief, the court recognized the egregious nature of their misconduct, noting that the defendants engaged in 'serious violations' of the securities laws, that they 'deprived the investing public of the information it needed to make a fully informed decision about whether to invest in Life Partners.

Andrew Ceresney

Wedbush acknowledges that it granted access to thousands of overseas traders without having appropriate safeguards in place.

Andrew Ceresney