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Category Archives: HedgeCo News

Former Hedge Fund Portfolio Manager to Pay More than $700,000 for Fraudulently Mismarking Swaps

(HedgeCo.Net) The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Swapnil Rege, a former portfolio manager for a Connecticut-based hedge fund registered with the CFTC as a commodity pool operator (CPO), for fraudulently mismarking […]

Defendant to Pay More Than $2.9 Million in Connection with a Social Media-Based Forex Fraud Scheme

(HedgeCo.Net) The Court’s order requires Ramirez to pay $735,983.48 in restitution to defrauded clients and a civil monetary penalty of more than $2.2 million. Additionally, the defendant is now permanently enjoined from engaging in conduct that violates the Commodity Exchange […]

Portfolio Manager Charged with Mispricing Fund Investments

(HedgeCo.Net) The Securities and Exchange Commission today announced settled administrative proceedings against Swapnil Rege, a North Brunswick, New Jersey portfolio manager and trader, for mispricing private fund investments, resulting in a large personal bonus. According to the SEC’s order, from […]

Securities Lawyer and Microcap Agent Charged with Fraud

(HedgeCo.Net) An Arizona-based attorney and a Missouri-based agent of microcap shell companies has been charged with securities fraud and registration violations. According to the SEC’s complaint, from February 2015 to April 2017, attorney William Scott Lawler engaged in schemes to […]

Former REIT Manager and Executives to Settle SEC Charges for more than $60 Million

(HedgeCo.Net) AR Capital LLC, its founder Nicholas S. Schorsch, and its former CFO Brian Block have been charged with wrongfully obtaining millions of dollars in connection with two separate mergers between real estate investment trusts (REITs) that were sponsored and […]

Nomura to Pay Misled Bond Customers $25 Million to Settle SEC Charges

(HedgeCo.Net) The Securities and Exchange Commission has instituted two related enforcement actions against Nomura Securities International Inc., which has agreed to repay approximately $25 million to customers for its failure to adequately supervise traders in mortgage-backed securities. The SEC orders […]

ADM Investor Services Inc to Pay a $250,000 Penalty to Settle Charges that it Failed to Supervise Its Employees

(HedgeCo.Net) The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against ADM Investor Services Inc. (ADMIS), a registered futures commission merchant located in Chicago, Illinois. The Order requires ADMIS to pay a civil monetary penalty […]

U.S. Life Insurers Continue to Reduce Hedge Fund Investments

(HedgeCo.Net) For a third straight year, the U.S. insurance industry as a whole pulled back from hedge fund investments, by roughly $2 billion in 2018 to $14.4 billion, with the life/annuity segment reporting a year-over-year reduction of more than 18%, […]

Traders Involved in Bitcoin Fraud Scheme Hit With $400,000 in Penalties

(HedgeCo.Net) A Texas federal court ordered two defendants—one using the name Morgan Hunt (Hunt), purportedly of Arlington, Texas (Hunt), and the other using the name Kim Hecroft (Hecroft), purportedly of Baltimore, Maryland (together, Defendants)—to pay nearly $400,000 in civil monetary […]

Agencies Adopt Final Rule to Exclude Community Banks from the Volcker Rule

(HedgeCo.Net) Five federal financial regulatory agencies announced on Tuesday that they adopted a final rule to exclude community banks from the Volcker Rule, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act. The Volcker Rule generally restricts banking […]

SEC Charges Accountant and Friend in $6.2 Million Insider Trading Scheme

(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against an accountant and her friend, whom she illegally tipped with confidential information in advance of her company’s quarterly performance announcements in exchange for all-expense paid travel and other […]

SEC Obtains Judgment Against New York Broker

(HedgeCo.Net) The U.S. District Court for the Southern District of New York has entered a settled amended final judgment against a New York-based broker who was previously charged by the SEC with defrauding retail customers. The SEC charged Jovannie Aquino, […]

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