Hedge Fund News From HedgeCo.Net


CFTC Orders Wells Fargo to Pay Over $14 Million for Violating Swap Dealer Business Conduct Standards

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has issued an order filing and settling charges against Wells Fargo Bank, N.A. for violating multiple swap dealer business conduct standards. Specifically, Wells Fargo failed to deal with a counterparty in a fair […]

Former Football Player Found Guilty of $10 Million Fraud in Second Criminal Trial

(HedgeCo.Net) A federal jury in Richmond, Virginia has returned a guilty verdict against Merrill Robertson, Jr., a former football player charged with defrauding investors, including coaches he knew from his time playing football for the Fork Union Military Academy and […]

SEC Awards Over $260,000 to Whistleblowers for Their Help in Spotting Securities Fraud

(HedgeCo.Net) The Securities and Exchange Commission has announced an award to three individuals who jointly submitted a tip alerting the agency to a well-concealed fraud targeting retail investors. The information led to a successful enforcement action. The whistleblowers, who were […]

CFTC Charges Unregistered Commodity Pool Operator, Two California Men with $2.3 Million Fraud

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced that it filed a civil enforcement action in the U.S. District Court for the Central District of California charging Main & Prospect Capital, LLC and two California men—the firm’s president, Daniel […]

Court Sentences Florida Resident to Prison and Orders Payment of Over $3 Million in Market Manipulation Scheme

(HedgeCo.Net) The U.S. District Court for the District of Massachusetts has sentenced St. Petersburg, Florida resident Gregory M. Bercowy in a criminal action brought by the United States Attorney for the District of Massachusetts in February 2019 charging securities fraud. […]

Final Judgments Entered Against Broker and Two Principals Found Liable for Fraud

(HedgeCo.Net) The United States District Court for the Southern District of New York has entered final judgments ordering over $1.6 million in monetary relief against broker-dealer Portfolio Advisors Alliance (PAA), its owner, Howard J. Allen, and its President, Kerri L. […]

SEC Wins Jury Trial in Layering, Manipulative Trading Case

(HedgeCo.Net) Jurors in New York federal court have returned a verdict in the Securities and Exchange Commission’s favor against a trading firm and two individuals for their roles in an unlawful trading scheme that generated more than $25 million in […]

Investment Adviser Charged for Failing to Disclose Conflicts

(HedgeCo.Net) The Securities and Exchange Commission has charged Bolton Securities Corporation d/b/a Bolton Global Asset Management, a registered investment adviser and broker-dealer based in Bolton, Massachusetts, with failing to disclose material conflicts of interest related to mutual fund 12b-1 fees […]

CFTC Orders Wells Fargo to Pay Over $14 Million for Violating Swap Dealer Business Conduct Standards

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission today issued an order filing and settling charges against Wells Fargo Bank, N.A. for violating multiple swap dealer business conduct standards. Specifically, Wells Fargo failed to deal with a counterparty in a fair […]

CFTC Orders Proprietary Trading Firm to Pay Record $67.4 Million for Engaging in a Manipulative and Deceptive Scheme and Spoofing

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has issued an order filing and settling charges against Tower Research Capital LLC, a proprietary trading firm, arising from a manipulative and deceptive scheme, spanning nearly two years and involving thousands of occasions […]

SEC Charges Adviser for Running Ponzi Scheme Targeting Haitian Community

(HedgeCo.Net) The Securities and Exchange Commission has filed charges against a New York investment adviser for operating a multimillion-dollar investment club that was actually a fraudulent Ponzi scheme targeting members of the local Haitian community as well as his family […]

CFTC Charges Denari Capital, LLC and its Owners with $8.3 Million Forex Fraud

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced the filing of a complaint in the U.S. District Court for the Northern District of California, charging defendants Travis Capson of Utah, Arnab Sarkar of California, and their California-based company, Denari […]

CFTC Charges Companies and Associates with Failing to Register with the CFTC

CFTC Charges Companies and Associates with Failing to Register with the CFTC (HedgeCO.Net) The U.S. Commodity Futures Trading Commission has issued an order filing and settling charges against Silver Star FX, LLC d/b/a Silver Star Live (SSL) of New Mexico […]

SEC Proposes to Modernize the Advertising and Cash Solicitation Rules for Investment Advisers

(HedgeCO.Net) The Securities and Exchange Commission has announced that it has voted to propose amendments to modernize the rules under the Investment Advisers Act addressing investment adviser advertisements and payments to solicitors. The proposed amendments are intended to update these […]

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