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Category Archives: HedgeCo News

SEC Adopts New Rules and Amendments under Title VII of Dodd-Frank

(HedgeCo.Net) The Securities and Exchange Commission has announced that it took a significant step toward establishing the regulatory regime for security-based swap dealers by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Wall Street […]

CFTC Charges Trader and his Company with $7 Million Fraud

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced the filing of a civil enforcement action in the U.S. District Court for the Eastern District of Virginia charging Tate Street Trading, Inc. of Richmond, Va. and Leonard J. Cipolla of […]

SEC Halts Alleged $125 Million Offering Fraud

(HedgeCo.Net) The Securities and Exchange Commission has announced that it has filed an emergency action and obtained a temporary restraining order and asset freeze against three individuals and three entities in connection with an alleged fraudulent, ongoing international trading program […]

Raymond James Agrees to Pay $15 Million for Improperly Charging Retail Investors

(Hedgeco.Net) The Securities and Exchange Commission today has instituted a settled order against three Raymond James entities for improperly charging advisory fees on inactive retail client accounts and charging excess commissions for brokerage customer investments in certain unit investment trusts […]

Two Broker-Dealers to Pay $4.65 Million in Penalties for Providing Deficient Blue Sheet Data

(HedgeCo.Net) The Securities and Exchange Commission has announced that Stifel, Nicolaus & Co., Inc. has agreed to pay $2.7 million and BMO Capital Markets Corp. has agreed to pay $1.95 million to settle charges for providing incomplete and inaccurate securities […]

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 […]

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