SEC Dismisses Civil Enforcement Action Against Vidul Prakash
The U.S. Securities and Exchange Commission (SEC) has dismissed its civil enforcement action against Vidul Prakash. The dismissal was filed via a joint stipulation with the defendant and is with prejudice, meaning the case cannot be refiled. The SEC cited the facts and circumstances of the case, including evidence developed in discovery, as the basis for its decision.
SEC v. Ofer Abarbanel - Fraud Orchestrator
The SEC announced a final consent judgment against Ofer Abarbanel, the alleged orchestrator of a $100 million fraudulent scheme involving two mutual funds. Abarbanel was permanently enjoined from future violations and ordered to pay disgorgement, offset by amounts already recovered and forfeited in a parallel criminal case.
SEC bars Ofer Ababaneh from investment industry
The SEC has barred Ofer Ababaneh from associating with any investment adviser, investment company, or any other person or entity registered or required to be registered with the Commission. This action follows Ababaneh's guilty plea and sentencing for investment adviser fraud, resulting in a 48-month prison sentence and restitution of $106,000,000.
SEC Order Directing Third Disbursement of Fair Fund in Computer Sciences Corporation Matter
The SEC has issued an order directing a third disbursement of Fair Funds in the administrative proceeding against Computer Sciences Corporation. Approximately $517,004.73 will be distributed to harmed investors, bringing the total disbursed to 22.23% of their recognized claims.
SEC Revokes LNP R Group Inc. Securities Registration
The SEC has revoked the securities registration of LNP R Group Inc. due to non-compliance with Section 13(a) of the Exchange Act and associated rules. The company failed to file required periodic reports after September 30, 2023. This action is effective February 27, 2026.
SEC and FSA Hold Dialogue on Market Developments and Crypto
The SEC and Japan's FSA held their Spring Financial Regulatory Dialogue to discuss market developments, including crypto and digital assets. The meeting aimed to strengthen cooperation on cross-border issues and enhance investor protection in global capital markets.
SEC Adopts Final Rules for Holding Foreign Insiders Accountable Act
The SEC has adopted final rules and form amendments implementing the Holding Foreign Insiders Accountable Act (HFIA). These changes require directors and officers of foreign private issuers to electronically disclose their holdings and transactions in the issuer's equity securities, effective March 18, 2026.
SEC Adopts Final Amendments for Holding Foreign Insiders Accountable Act
The SEC has adopted final amendments to rules and forms under the Exchange Act to implement the Holding Foreign Insiders Accountable Act. These amendments require directors and officers of foreign private issuers with U.S. registered equity securities to disclose beneficial ownership and transactions. The rule becomes effective on March 18, 2026.