The Commission prevailed in four court actions. In the district court the agency won a summary judgment motion against an investment adviser. In the Eleventh Circuit Court the SEC secured a pair of victories. In one it obtained the reversal of a grant of summary judgment against it in an ARS case. In another, the Circuit Court affirmed a district court ruling in favor of the Commission. And, in the Tenth Circuit the Court affirmed a grant of summary judgment in favor of the Commission in an investment fund fraud action.
Enforcement focused on offering fund fraud actions. One was brought against a mother and a daughter. In two others three lawyers were named as defendants who are alleged to have enabled the illegal transactions.
Finally FINRA sanctioned four major Wall Street players based on inadequate supervision. Sanction were imposed on Wells Fargo, Morgan Stanley, Citi and UBS.
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