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SEC Establishes Special Task Force to Combat Cross-Border Trading Fraud Targeting American Investors
Summary: In a recent announcement, the U.S. Securities and Exchange Commission (SEC) has established a special task force to combat cross-border trading fraud that harms American investors. The task force will initially focus on investigating potential violations of U.S. federal securities laws related to foreign companies, including potential market manipulation such as stock price manipulation and ...
In a recent announcement, the U.S. Securities and Exchange Commission (SEC) has established a special task force to combat cross-border trading fraud that harms American investors. The task force will initially focus on investigating potential violations of U.S. federal securities laws related to foreign companies, including potential market manipulation such as stock price manipulation and pump-and-dump schemes. It will also pay close attention to gatekeepers, especially auditors and underwriters who help these companies access the U.S. capital markets. Additionally, the task force will review potential securities law violations by companies in foreign jurisdictions. SEC Chairman Paul Atkins stated that while companies from around the world are welcome to enter the U.S. capital markets, any bad actors - whether companies, intermediaries, or gatekeepers - attempting to exploit international boundaries to obstruct and evade protections for American investors will not be tolerated. The new special task force will strengthen the SEC's investigative efforts and enable the SEC to utilize all available tools to combat cross-border fraudulent activities.
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Link: SEC Establishes Special Task Force to Combat Cross-Border Trading Fraud Targeting American Investors [Copy]
