{"id":6107,"date":"2017-01-31T15:31:35","date_gmt":"2017-01-31T21:31:35","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1415"},"modified":"2022-05-19T08:55:00","modified_gmt":"2022-05-19T13:55:00","slug":"securities-cases-nynj-port-authority-accused-not-disclosing-municipal-bond-risks-finra-expels-lawson-financial-fraud-sec-brings-fcpa-violation-charges","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nynj-port-authority-accused-not-disclosing-municipal-bond-risks-finra-expels-lawson-financial-fraud-sec-brings-fcpa-violation-charges\/","title":{"rendered":"Securities Cases: NY\/NJ Port Authority Accused of Not Disclosing Municipal Bond Risks, FINRA Expels Lawson Financial for Fraud, and SEC Brings More FCPA Violation Charges"},"content":{"rendered":"<h2><strong>Port Authority Admits Wrongdoing Related to Failure to Disclose Municipal Bond Risks to Investors<\/strong><\/h2>\n<p>The Port Authority of New Jersey and New York will pay a $400K to resolve Securities and Exchange Commission charges accusing the municipal issuer of knowing about the municipal bond risks involved a number of NJ roadway projects yet failing to tell investors who bought the bonds that would pay for these projects about the risks. The Port Authority admitted wrongdoing.<\/p>\n<p>According to the SEC\u2019s order, the Port Authority sold $2.3B of bonds even though there were questions as to whether certain projects exceeded their mandate and might not be legal to execute. Despite these concerns, the Port Authority did not mention the municipal bond risks in offering these documents.<\/p>\n<h2><strong>SEC Cases Seeks to Hold Companies Accountable for FCPA Violations<\/strong><\/h2>\n<p>Already this year, the SEC has brought and\/or settled a number of civil cases involving alleged violations of the Foreign Corrupt Practices Act. Early last month, Biomet, a medical device manufacturer, agreed to pay over $30M to settle parallel Justice Department and SEC probes over purported repeat FCPA violations.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nynj-port-authority-accused-not-disclosing-municipal-bond-risks-finra-expels-lawson-financial-fraud-sec-brings-fcpa-violation-charges\/#more-6107\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Port Authority Admits Wrongdoing Related to Failure to Disclose Municipal Bond Risks to Investors The Port Authority of New Jersey and New York will pay a $400K to resolve Securities and Exchange Commission charges accusing the municipal issuer of knowing about the municipal bond risks involved a number of NJ roadway projects yet failing to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739,3776,3922,3951,3760,3761],"tags":[2728,2729],"class_list":["post-6107","post","type-post","status-publish","format-standard","hentry","category-finra","category-finra-settlements","category-municipal-bonds","category-municipal-securities","category-sec-enforcement","category-securities-and-exchange-commis","tag-foreign-corrupt","tag-lawson-financial-corporation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Cases: NY\/NJ Port Authority Accused of Not Disclosing Municipal Bond Risks, FINRA Expels Lawson Financial for Fraud, and SEC Brings More FCPA Violation Charges &#8212; Investor Lawyers Blog &#8212; January 31, 2017<\/title>\n<meta name=\"description\" content=\"The Port Authority of New Jersey and New York will pay a $400K to resolve SEC charges accusing them of failure to provide municipal bond risks to investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nynj-port-authority-accused-not-disclosing-municipal-bond-risks-finra-expels-lawson-financial-fraud-sec-brings-fcpa-violation-charges\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Cases: NY\/NJ Port Authority Accused of Not Disclosing Municipal Bond Risks, FINRA Expels Lawson Financial for Fraud, and SEC Brings More FCPA Violation Charges &#8212; Investor Lawyers Blog &#8212; January 31, 2017\" \/>\n<meta name=\"twitter:description\" content=\"The Port Authority of New Jersey and New York will pay a $400K to resolve SEC charges accusing them of failure to provide municipal bond risks to investors.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Cases: NY\/NJ Port Authority Accused of Not Disclosing Municipal Bond Risks, FINRA Expels Lawson Financial for Fraud, and SEC Brings More FCPA Violation Charges &#8212; Investor Lawyers Blog &#8212; January 31, 2017","description":"The Port Authority of New Jersey and New York will pay a $400K to resolve SEC charges accusing them of failure to provide municipal bond risks to investors.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nynj-port-authority-accused-not-disclosing-municipal-bond-risks-finra-expels-lawson-financial-fraud-sec-brings-fcpa-violation-charges\/","twitter_card":"summary_large_image","twitter_title":"Securities Cases: NY\/NJ Port Authority Accused of Not Disclosing Municipal Bond Risks, FINRA Expels Lawson Financial for Fraud, and SEC Brings More FCPA Violation Charges &#8212; 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