{
 "body": {
  "html": "<p>The SEC posted litigation release LR-26666 on Oct. 6, 2026.</p>\n<p>From the release: \"Without admitting the allegations in the SEC's complaint, Leech consented to entry of a final judgment, subject to court approval, that would order him to pay a $3 million penalty, impose an officer-and-director bar and permanently enjoin him from violating Section 17(a)(1) and (3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c) thereunder, Sections 206(1) and (2) of the Investment Advisers Act of 1940, and Section 36(a) of the Investment Company Act of 1940.\"</p>",
  "text": "The SEC posted litigation release LR-26666 on Oct. 6, 2026.\n\nFrom the release: \"Without admitting the allegations in the SEC's complaint, Leech consented to entry of a final judgment, subject to court approval, that would order him to pay a $3 million penalty, impose an officer-and-director bar and permanently enjoin him from violating Section 17(a)(1) and (3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c) thereunder, Sections 206(1) and (2) of the Investment Advisers Act of 1940, and Section 36(a) of the Investment Company Act of 1940.\""
 },
 "claims": [
  {
   "evidence": "Without admitting the allegations in the SEC's complaint, Leech consented to entry of a final judgment, subject to court approval, that would order him to pay a $3 million penalty, impose an officer-and-director bar and permanently enjoin him from violating Section 17(a)(1) and (3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c) thereunder, Sections 206(1) and (2) of the Investment Advisers Act of 1940, and Section 36(a) of the Investment Company Act of 1940.",
   "kind": "settles",
   "receipt": "LR-26666"
  }
 ],
 "contact": "research@alphanume.com",
 "corrections": [],
 "dek": "The release describes Stephen Kenneth Leech as a former co-chief investment officer of registered investment adviser Western Asset Management Company LLC.",
 "desk": "regulatory",
 "desk_label": "Regulatory Actions",
 "entities": [
  {
   "basis": "identifier or the record itself",
   "in_headline": true,
   "name": "Stephen Kenneth Leech",
   "role": "respondent"
  }
 ],
 "facts": [
  {
   "key": "respondent",
   "receipt": "LR-26666",
   "source": {
    "path": "text",
    "value": "Stephen Kenneth Leech"
   },
   "text": "Stephen Kenneth Leech"
  },
  {
   "key": "release_no",
   "receipt": "LR-26666",
   "source": {
    "path": "index:Release No.",
    "value": "LR-26666"
   },
   "text": "LR-26666"
  },
  {
   "key": "release_date",
   "receipt": "LR-26666",
   "source": {
    "path": "index:date",
    "value": "2026-10-06"
   },
   "text": "Oct. 6, 2026"
  },
  {
   "key": "descriptor",
   "receipt": "LR-26666",
   "source": {
    "path": "text",
    "value": "former co-chief investment officer of registered investment adviser Western Asset Management Company LLC"
   },
   "text": "former co-chief investment officer of registered investment adviser Western Asset Management Company LLC"
  },
  {
   "key": "settle_sentence",
   "receipt": "LR-26666",
   "source": {
    "path": "text (sentence)",
    "value": "Without admitting the allegations in the SEC's complaint, Leech consented to entry of a final judgment, subject to court approval, that would order him to pay a $3 million penalty, impose an officer-and-director bar and permanently enjoin him from violating Section 17(a)(1) and (3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c) thereunder, Sections 206(1) and (2) of the Investment Advisers Act of 1940, and Section 36(a) of the Investment Company Act of 1940."
   },
   "text": "Without admitting the allegations in the SEC's complaint, Leech consented to entry of a final judgment, subject to court approval, that would order him to pay a $3 million penalty, impose an officer-and-director bar and permanently enjoin him from violating Section 17(a)(1) and (3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c) thereunder, Sections 206(1) and (2) of the Investment Advisers Act of 1940, and Section 36(a) of the Investment Company Act of 1940."
  }
 ],
 "guid": "tag:alphanume.com,2026:news:s_xllbs5o4gqny",
 "headline": "Stephen Kenneth Leech Agrees to Settle SEC Charges Over Alleged Cherry-Picking Allocation Scheme, Subject to Court Approval",
 "id": "s_xllbs5o4gqny",
 "kind": "story",
 "legal": {
  "allegation": true,
  "stage": "settled_no_admit"
 },
 "published_at": "2026-10-06T23:23:33+00:00",
 "receipts": [
  {
   "filed": "2026-10-06",
   "form": "sec-lr",
   "id": "LR-26666",
   "label": "SEC litigation release LR-26666",
   "source": "sec_release",
   "type": "sec_release_no",
   "type_label": "SEC release",
   "url": "https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26666"
  }
 ],
 "record_date": "2026-10-06",
 "schema": "alphanume.news/item/v1",
 "slug": "stephen-kenneth-leech-agrees-to-settle-sec-charges-over-alleged-cherry-picking",
 "status": "published",
 "type": "sec_litigation",
 "updated_at": "2026-10-06T23:23:33+00:00",
 "version": 1,
 "url": "https://news.alphanume.com/stories/stephen-kenneth-leech-agrees-to-settle-sec-charges-over-alleged-cherry-picking",
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}