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Category Archives: HedgeCo News

Six Individuals Charged in $35-MILLION International Microcap Fraud Schemes

(HedgeCo.Net) The Securities and Exchange Commission has charged six individuals and their companies with participating in schemes that allegedly generated more than $35 million of illegal sales of stock in at least 45 microcap companies. The charges contained in two […]

MetLife to Pay $10 Million for Longstanding Internal Control Failures

(HedgeCo.Net) The Securities and Exchange Commission has charged MetLife, Inc. with violating the books and records and internal accounting controls provisions of the federal securities laws relating to two errors in its accounting for reserves associated with its annuities businesses. […]

SEC Proposes to Codify Certain Consultations and Modernize Auditor Independence Rules

(HedgeCo.Net) The Securities and Exchange Commission is proposing amendments to codify certain staff consultations and modernize certain aspects of its auditor independence framework. The proposed amendments would update select aspects of the nearly two-decade-old auditor independence rule set to more […]

SEC Charges Investment Adviser with Defrauding Retirees

(HedgeCo.Net) The Securities and Exchange Commission has charged Sacramento, California-based investment adviser firm Springer Investment Management, Inc. dba Springer Financial Advisors (SFA) and owner Keith Springer with defrauding hundreds of retail clients, most of them in or close to retirement. […]

Final Judgments Entered in Pay-To-Play Scheme

(HedgeCo.Net) The U.S. District Court for the Southern District of New York has entered final judgments against Navnoor Kang, who previously served as the director of fixed income for the New York State Common Retirement Fund, as well as Gregg […]

CFTC Awards More Than $1 Million to Whistleblower

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced it will award more than $1 million to a whistleblower whose tip helped expose a scheme that violated the Commodity Exchange Act (CEA) and eventually led to the CFTC filing charges. […]

CFTC Charges Executive at Global Investment Bank with Manipulation and Fraud in Connection with Swaps Related to a Bond Issuance

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has filed a civil enforcement action in the U.S. District Court for the Southern District of New York against Christophe Rivoire, a French national, charging him with engaging in a deceptive scheme to […]

CFTC Charges Executive at Global Investment Bank with Manipulation and Fraud in Connection with Swaps Related to a Bond Issuance

(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has filed a civil enforcement action in the U.S. District Court for the Southern District of New York against Christophe Rivoire, a French national, charging him with engaging in a deceptive scheme to […]

Recidivist Investment Adviser Charged With Defrauding Retirees

(HedgeCo.Net) Sacramento, California-based investment adviser firm Springer Investment Management, Inc. dba Springer Financial Advisors (SFA) and owner Keith Springer have been charged with defrauding hundreds of retail clients, most of them in or close to retirement. The SEC’s complaint alleges […]

MetLife to Pay $10 Million for Longstanding Internal Control Failures

(HedgeCo.Net) MetLife, Inc. has been charged with violating the books and records and internal accounting controls provisions of the federal securities laws relating to two errors in its accounting for reserves associated with its annuities businesses. MetLife has agreed to […]

Silicon Valley IT Administrator and Friends Charged in Multimillion Dollar Insider Trading Ring

(HedgeCo.Net)Insider trading charges have been filed against five friends who repeatedly traded on confidential earnings information about a Silicon Valley cloud-computing company, reaping millions of dollars in trading profits. According to an SEC’s complaint, Janardhan Nellore, a former IT administrator […]

Former Goldman Sachs Executive Charged With FCPA Violations

(HedgeCo.Net)The Securities and Exchange Commission today announced charges against former Goldman Sachs Group Inc. executive Tim Leissner for engaging in a corruption scheme, by which he obtained millions of dollars by paying unlawful bribes to various government officials to secure […]