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Category Archives: HedgeCo News

Ernst & Young to Pay $11.8 Million for Audit Failures

(HedgeCo.Net) The Securities and Exchange Commission today announced that Ernst & Young LLP has agreed to pay more than $11.8 million to settle charges related to failed audits of an oil services company that used deceptive income tax accounting to […]

Embraer Paying $205 Million to Settle FCPA Charges

(HedgeCo.Net) The Securities and Exchange Commission today announced a global settlement along with the U.S. Department of Justice and Brazilian authorities that requires aircraft manufacturer Embraer S.A. to pay more than $205 million to resolve alleged violations of the Foreign […]

SEC Charges Board Member With Insider Trading During and After Board Meeting

(HedgeCo.NET) — The Securities and Exchange Commission today charged a Tennessee-based lawyer who served on the executive committee of the board of directors at Nashville-based Pinnacle Financial Partners with insider trading based on nonpublic information he learned about an impending […]

SEC Adopts Rules to Modernize Information Reported by Funds, Require Liquidity Risk Management Programs, and Permit Swing Pricing

(HedgeCo.Net) The Securities and Exchange Commission today voted to adopt changes to modernize and enhance the reporting and disclosure of information by registered investment companies and to enhance liquidity risk management by open-end funds, including mutual funds and exchange-traded funds […]

SEC Charges Bank Leumi With Conducting Unregistered U.S. Cross-Border Business

(HedgeCo.Net) The Securities and Exchange Commission today announced that Israeli-based Bank Leumi has agreed to pay $1.6 million and admit wrongdoing to settle charges that it provided investment advice and induced securities transactions for U.S. customers for more than a […]

Ernst & Young to Pay $11.8 Million for Audit Failures

(HedgeCo.Net) The Securities and Exchange Commission today announced that Ernst & Young LLP has agreed to pay more than $11.8 million to settle charges related to failed audits of an oil services company that used deceptive income tax accounting to […]

SEC Charges Energy Services Company and Executives With Fraud

(HedgeCo.Net) The Securities and Exchange Commission today charged an energy services provider and four executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed in order to meet internal targets. Lime Energy Co. […]

Company to Pay Penalty for Stock Picking Game That Was An Unregistered Swap

(HedgeCo.Net) The Securities and Exchange Commission today announced that a New York-based company has agreed to pay a $50,000 penalty for illegally offering complex derivatives products to retail investors through mobile phone games that were described as “fantasy sports for […]

Hedge Fund Firm and Supervisor Charged With Failing to Prevent Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission today announced that a hedge fund advisory firm and a senior research analyst have agreed to settle charges related to their failures to detect insider trading by one of their employees. The SEC’s order […]

Deutsche Bank Allegedly Failed to Properly Safeguard Research Information

(HedgeCo.Net) The Securities and Exchange Commission today announced that Deutsche Bank Securities has agreed to pay a $9.5 million penalty for failing to properly safeguard material nonpublic information generated by its research analysts. Deutsche Bank also published an improper research […]

160 Investment Advisers or Investment Companies Hit with Disciplinary Action in 2016

(HedgeCo.Net) The Securities and Exchange Commission today announced that, in fiscal year 2016, it filed 868 enforcement actions exposing financial reporting-related misconduct by companies and their executives and misconduct by registrants and gatekeepers, as the agency continued to enhance its […]

Credit Suisse Paying $90 Million Penalty for Misrepresenting Performance Metric

(HedgeCo.Net) The Securities and Exchange Commission today announced that Credit Suisse AG has agreed to pay a $90 million penalty and admit wrongdoing to settle charges that it misrepresented how it determined a key performance metric of its wealth management […]

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