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Category Archives: HedgeCo News

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 […]

UBS Hit With $15-Million Penalty After Being Charged With Supervisory Failures

(HedgeCo.Net) The Securities and Exchange Commission has announced that UBS Financial Services has agreed to pay more than $15 million to settle charges that it failed to adequately educate and train its sales force about critical aspects of certain complex […]

Investment Adviser Charged With Cherry-Picking and Misleading Clients

(HedgeCo.Net)— The Securities and Exchange Commission today announced fraud charges against an investment adviser accused of “cherry-picking” profitable trades for his own account rather than a client’s accounts, and misleading seniors and other clients about the fees he charged and […]

Weatherford International To Pay $140-Million Penalty For Inflated Earnings

(HedgeCo.Net) The Securities and Exchange Commission has announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. Two of the company’s senior […]

Och-Ziff Hedge Fund Settles FCPA Charges

(HedgeCo.Net) As we reported yesterday, The Securities and Exchange Commission today confirmed that Och-Ziff Capital Management Group has agreed to pay nearly $200 million to the SEC to settle civil charges of violating the Foreign Corrupt Practices Act (FCPA). Och-Ziff […]

Biotech Employee Charged With Insider Trading Ahead of Company’s Announcements About Breast Cancer Drug

(HedgeCo.Net) The Securities and Exchange Commission today charged the former senior director of regulatory affairs for Puma Biotechnology with insider trading ahead of the company’s news announcements about its drug to treat breast cancer. The SEC alleges that Robert Gadimian […]

UBS Financial Services Hit With $15-Million Penalty

(HedgeCo.Net) The Securities and Exchange Commission today announced that UBS Financial Services has agreed to pay more than $15 million to settle charges that it failed to adequately educate and train its sales force about critical aspects of certain complex […]

SEC Charges CEO and Boiler Room Operator With Fraud

(HedgeCo.Net) The Securities and Exchange Commission today charged a former microcap company CEO and a boiler room operator with defrauding seniors and others who were pressured to invest in a pair of penny stock companies and promised lucrative profits. The […]

Merrill Lynch Charged With Trading Controls Failures That Led to Mini-Flash Crashes

(HedgeCo.Net) The Securities and Exchange Commission today announced that Merrill Lynch has agreed to pay a $12.5 million penalty for maintaining ineffective trading controls that failed to prevent erroneous orders from being sent to the markets and causing mini-flash crashes. […]

Executives Charged With Microcap Fraud

(Hedgeco.NET) The Securities and Exchange Commission today charged three company executives with defrauding investors in a purported project to construct the largest movie studio in North America at a suburban location outside Savannah, Georgia. The SEC alleges that Manu Kumaran, […]

Raymond James and Robert W. Baird Settle Charges Related to Compliance Failures

(Hedge Co.Net) The Securities and Exchange Commission today announced that two investment advisory firms are settling charges related to compliance failures within their wrap fee programs. SEC investigations found that St. Petersburg, Fla.-based Raymond James & Associates and Milwaukee-based Robert […]

SEC Charges Hedge Fund Manager Leon Cooperman With Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission today charged hedge fund manager Leon G. Cooperman and his firm Omega Advisors with insider trading based on material nonpublic information he learned in confidence from a corporate executive. The SEC alleges that Cooperman […]

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