FCC to propose $200 million fines for U.S. cellphone carriers over consumer data disclosures

REUTERS

The U.S. Federal Communications Commission is set to propose fining four major U.S. mobile phone companies at least $200 million in total for improperly disclosing some consumer real-time location data, two people briefed on the matter said on Thursday. read more »

SEC Charges South Carolina Energy Companies, Former Executives With Defrauding Investors

SECURITIES AND EXCHANGE COMMISSION

The Securities and Exchange Commission today charged SCANA Corp., two of its former top executives, and South Carolina Electric & Gas Co. (SCE&G), now known as Dominion Energy South Carolina Inc., with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned. read more »

SEC Charges Wells Fargo In Connection With Investment Recommendation Practices

SECURITIES AND EXCHANGE COMMISSION

The Securities and Exchange Commission today announced settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures with respect to the suitability of those recommendations. The SEC ordered Wells Fargo to pay a $35 million penalty, which will be distributed to harmed investors. read more »