Hedge Fund News From HedgeCo.Net


CFTC Orders Interdealer Broker to Pay $13 Million for Supervisory Failures and False Statements

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has issued two orders filing and settling charges against Tullett Prebon Americas Inc., an interdealer broker and CFTC-registered introducing broker headquartered in New Jersey. The combined orders require Tullett to pay a total […]

CFTC Orders Registrant to Pay $1.5 Million for Violations Related to Cyber Breach

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against Phillip Capital Inc. (PCI), a registered futures commission merchant, for allowing cyber criminals to breach PCI email systems, access customer information, and successfully […]

Final Judgment Entered Against Investment Adviser in Cherry-Picking Scheme

(HedgeCo.Net) U.S. District Judge Mark L. Wolf entered a final judgment against Massachusetts investment adviser Michael J. Breton in an SEC case that charged Breton with defrauding clients out of more than $1.3 million. The SEC charged Breton and his […]

Merrill Lynch Ordered to Pay $300,000 Penalty for Failing to Promptly Produce Audit Trail Data

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has issued an order filing and settling charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch), a registered futures commission merchant, for failing to promptly produce to the CFTC certain required […]

CFTC Charges Unregistered Forex Trading Firm and Its Principal with Fraud and Misappropriation

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has filed a civil enforcement action in the Southern District of New York against defendants Dominick Vincent Carducci and his company VOS Capital Management, LLC (VOS Capital), both of South Carolina. The defendants […]

Los Angeles-Based Company and Two Executives Charged for Their Roles in $19 Million Illegal Securities Offering

(HedgeCo.Net) The Securities and Exchange Commission has charged Toon Goggles Inc., a Los Angeles-based company that offers on-demand entertainment content for children, and its founder, Ira Warkol, for conducting a $19 million illegal securities offering. The SEC also charged Warkol […]

Investment Adviser Charged with Fraud

(HedgeCo.Net)The Securities and Exchange Commission charged Connecticut resident E. Herbert Hafen with defrauding multiple retail clients by misappropriating approximately $1.6 million of client assets. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York announced […]

SEC and CFTC Charge Options Clearing Corp. With Failing to Establish and Maintain Adequate Risk Management Policies

(HedgeCo.Net) The Securities and Exchange Commission and the Commodity Futures Trading Commission today announced that the Options Clearing Corporation (OCC) will undertake remedial efforts and pay $20 million in penalties to settle charges that it failed to implement policies to […]

Investment Adviser Charged With Defrauding Its Advisory Clients

(HedgeCo.Net) The Securities and Exchange Commission today charged Cetera Advisors, LLC, a registered investment adviser and broker-dealer based in Denver, Colorado, with breaching its fiduciary duty and defrauding its retail advisory clients by, among other things, failing to disclose conflicts […]

SEC Charges Live Well Financial and Its CEO… In Alleged Fraudulent Mismarking Scheme

(HedgeCo.Net) The Securities and Exchange Commission has charged Live Well Financial, Inc. and its CEO, Michael Hild, both of Richmond, Va., with perpetuating a multi-million dollar bond mismarking scheme against Live Well’s short-term lenders. The complaint also charges Live Well’s […]

SEC Monitoring Impact of Hurricane Dorian on Capital Markets

(HedgeCo.Net) The SEC divisions and offices that oversee companies, accountants, investment advisers, mutual funds, brokerage firms, transfer agents, and other regulated entities and investment professionals will continue to closely track developments. They will evaluate the possibility of granting relief from […]

Investment Adviser Firm and Its Principals Charged With Defrauding Retired NFL Players

(HedgeCo.Net) The Securities and Exchange Commission today charged a Tallahassee-based investment adviser firm and its two former principals with defrauding investors, most of whom were retired NFL players who had joined a class-action lawsuit against the league claiming they suffered […]

SEC Shuts Down $300 Million Fraud Perpetrated by San Diego Company and Its Principal

(HedgeCo.Net) The Securities and Exchange Commission today announced it has filed charges and obtained a consented-to asset freeze against San Diego-based ANI Development LLC, its principal, Gina Champion-Cain, and a relief defendant, for operating a multi-year $300 million scheme that […]

SEC Obtains Emergency Asset Freeze, Charges Pennsylvania Investment Adviser with $100 Million Fraud

(HedgeCo.Net) The Securities and Exchange Commission has charged a Pennsylvania investment adviser with operating an investment advisory fraud involving over $100 million in investments. The SEC also obtained an emergency asset freeze. The SEC’s complaint alleges that Brenda Smith, and […]

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