Hedge Fund News From HedgeCo.Net


Category Archives: HedgeCoVest News

Intelligence Communications Company and Top Executives Charged With Defrauding Merger Investors

(HedgeCo.Net)The SEC has charged Ability Inc., an Israel-based intelligence communications company, its wholly-owned subsidiary, and two of its top executives with defrauding shareholders of a Florida-based special purpose acquisition company (SPAC), a company formed to raise capital for a merger […]

Walmart to Pay $144-Million To Settle FCPA Violations

(HedgeCo.Net) The Securities and Exchange Commission has charged Walmart with violating the Foreign Corrupt Practices Act (FCPA) by failing to operate a sufficient anti-corruption compliance program for more than a decade as the retailer experienced rapid international growth. Walmart agreed […]

KPMG Paying $50 Million Penalty for Illicit Use of PCAOB Data and Cheating on Training Exams

(HedgeCo.Net) The Securities and Exchange Commission has charged KPMG LLP with altering past audit work after receiving stolen information about inspections of the firm that would be conducted by the Public Company Accounting Oversight Board (PCAOB). The SEC’s order also […]

Wedbush to Pay More Than $8.1 Million for Improper Handling of ADRs

(HedgeCo.Net) The Securities and Exchange Commission has announced that Wedbush Securities Inc. will pay more than $8.1 million to settle charges for improper handling of “pre-released” American Depositary Receipts (ADRs). This is the SEC’s 11th action against a bank or […]

Industrial and Commercial Bank of China Affiliate to Pay More Than $42 Million for Improper Handling of ADRs

(HedgeCo.Net) The Securities and Exchange Commission has announced that Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), a wholly-owned subsidiary of Industrial and Commercial Bank of China Limited, will pay more than $42 million to settle charges for […]

Hedge Fund Adviser to Pay $5 Million for Compliance Failures Related to Valuation of Fund Assets

(HedgeCo.Net) The Securities and Exchange Commission has announced that a private fund manager in the mortgage-backed securities space has agreed to pay a $5 million penalty to settle charges stemming from compliance deficiencies that contributed to the firm’s failure to […]

Final Judgment Against Investment Adviser Charged with Fraud

(HedgeCo.Net) A federal court judge has entered a final judgment against Massachusetts resident and Cape Cod-area investment adviser Kimberly Pine Kitts in an SEC case that charged Kitts with defrauding multiple clients by stealing over $3 million from their investment […]

Connecticut Broker and Investment Adviser Convicted On 21 Counts of Fraud and Money Laundering

(HedgeCo.Net) A Connecticut man charged by the Securities and Exchange Commission with fraudulently persuading several customers to invest with him and then spending their money on his own living and business expenses was found guilty by a federal jury in […]

Updated List of Firms Using Inaccurate Information to Solicit Investors

(HedgeCo.Net) The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 11 soliciting entities, four impersonators of genuine firms, and nine bogus regulators. The SEC’s […]

Barings raises $943m for Barings Asset-Based Income Fund

(Opalesque) The $317bn global financial services firm Barings held the final close of its Barings Asset-Based Income Fund (BABIF), which raised $943m in commitments. “BABIF has raised $943m in commitments from existing and new institutional investors including public and private […]

New Rules Approved to Enhance Protections for Retail Investors Dealing With Financial Professionals

(HedgeCo.Net) The Securities and Exchange Commission has voted to adopt a package of rulemakings and interpretations designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers, bringing the legal requirements and mandated disclosures in […]

SEC Charges Issuer With Conducting $100 Million Unregistered ICO

(HedgeCo.Net) The Securities and Exchange Commission has sued Kik Interactive Inc. for conducting an illegal $100 million securities offering of digital tokens. The SEC charges that Kik sold the tokens to U.S. investors without registering their offer and sale as […]

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