CompaniesBIO

SEC Chair Gary Gensler has directed the staff to carefully monitor developments as a result of Hurricanes Ian and Fiona. While the safety of local residents is the highest priority , the SEC invites inquiries from any person with obligations under the federal securities laws that may be affected by the storms. The staff will evaluate the appropriateness of providing regulatory relief for those as applicable. Division of Examinations staff in the SEC's Miami Regional Office (covers Florida, Mississippi, Louisiana, U.S. Virgin Islands, and Puerto Rico) can be reached at 305-982-6300 or miami@sec.gov. Division of Corporation Finance staff can be reached at 202-551-3500 or via online submission at //www.sec.gov/forms/corp_fin_interpretive. Division of Investment Management staff can be reached at 202-551-6825 or imocc@sec.gov. Division of Trading and Markets staff can be reached at 202-551-5777 or tradingandmarkets@sec.gov. Office of Municipal Securitie...

The Securities and Exchange Commission today charged 18 individuals and entities for their roles in a fraudulent scheme in which dozens of online retail brokerage accounts were hacked and improperly used to purchase microcap stocks to manipulate the price and trading volume of those stocks. Those charged include Rahim Mohamed of Alberta, Canada, who is alleged to have coordinated the hacking attacks, and several others in and outside the U.S. who allegedly benefited from or participated in the scheme. According to the SEC’s complaint, in late 2017 and early 2018, hackers accessed at least 31 U.S. retail brokerage accounts and used them to purchase the securities of Lotus Bio-Technology Development Corp. and Good Gaming, Inc. The unauthorized purchases allegedly enabled fraudsters, who already controlled large blocks of Lotus Bio-Tech and Good Gaming stock, to sell their holdings at artificially high prices and reap more than $1 million in illicit proceeds. According to the complaint...