Hedge Fund News From HedgeCo.Net


10 Firms Violated Pay-to-Play Rule By Accepting Pension Fund Fees Following Campaign Contributions

(HedgeCo.Net) — The Securities and Exchange Commission today announced that 10 investment advisory firms have agreed to pay penalties ranging from $35,000 to $100,000 to settle charges that they violated the SEC’s investment adviser pay-to-play rule by receiving compensation from […]

Allergan Paying $15 Million Penalty for Disclosure Failures During Merger Talks

(HedgeCo.Net) The Securities and Exchange Commission today announced that Allergan Inc. has agreed to admit securities law violations and pay a $15 million penalty for disclosure failures in the wake of a hostile takeover bid. The SEC’s order finds that […]

Morgan Stanley Paying $13 Million Penalty for Overbilling Clients and Violating Custody Rule

(HedgeCo.Net) The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay a $13 million penalty to settle charges that it overbilled investment advisory clients due to coding and other billing system errors. The firm […]

Citadel Securities Paying $22 Million for Misleading Clients About Pricing Trades

(HedgeCo.Net)— The Securities and Exchange Commission has announced that Citadel Securities LLC has agreed to pay $22.6 million to settle charges that its business unit handling retail customer orders from other brokerage firms made misleading statements to them about the […]

BNY Mellon Settles Charges Stemming From Miscalculations of Regulatory Capital Figures

(HedgeCo.Net) The Securities and Exchange Commission has announced that BNY Mellon has agreed to pay a $6.6 million penalty to settle charges stemming from miscalculations of its risk-based capital ratios and risk-weighted assets reported to investors. An SEC investigation found […]

ITG Paying $24 Million for Improper Handling of ADRs

(HedgeCo.Net) The Securities and Exchange Commission today announced that broker ITG agreed to pay more than $24.4 million to settle charges that it violated federal securities laws when it prompted the issuance of American Depository Receipts (ADRs) without possessing the […]

SEC Charges Government Contractor With Inadequate Controls and Books and Records Violations

(HedgeCo.Net) The Securities and Exchange Commission today announced that L3 Technologies Inc. (formerly known as L-3 Communications Holdings Inc.), a contractor for U.S. and various foreign government agencies, has agreed to pay a $1.6 million penalty to settle charges that […]

Investment Adviser, Lawyer Settle Charges in Secret Referral Fee Scheme

(HedgeCo.Net) — The Securities and Exchange Commission today announced that a Connecticut-based investment adviser has agreed to admit wrongdoing and pay more than $575,000 to settle charges that he defrauded a client and then compounded his scheme by attempting to […]

SEC Charges Two Brokers With Defrauding Customers

(HedgeCo.Net) The Securities and Exchange Commission today charged two New York-based brokers with fraudulently using an in-and-out trading strategy that was unsuitable for customers in order to generate hefty commissions for themselves. The SEC’s complaint alleges that Gregory T. Dean […]

SEC Awards $5.5 Million to Whistleblower

(HedgeCo.Net) The Securities and Exchange Commission today announced an award of more than $5.5 million to a whistleblower who provided critical information that helped the SEC uncover an ongoing scheme. According to the SEC’s order, the whistleblower was employed at […]

SEC Charges Operators of Fake Day-Trading Firm With Defrauding Investors

(HedgeCo.Net) The Securities and Exchange Commission has charged two men behind a phony day-trading firm with pocketing more than $1.4 million in deposits from hundreds of defrauded investors worldwide. The SEC alleges that Naris Chamroonrat of Bangkok, Thailand, recruited Adam […]

SEC Names Sara P. Crovitz Deputy Chief Counsel in the Division of Investment Management’s Chief Counsel’s Office

(HedgeCo.Net) The Securities and Exchange Commission today named Sara P. Crovitz Deputy Chief Counsel and Associate Director in the Division of Investment Management’s Chief Counsel’s Office. As Deputy Chief Counsel, Ms. Crovitz will assist the Chief Counsel in overseeing legal […]

California Attorney Charged With Stealing Investor Money

(HedgeCo.Net) The Securities and Exchange Commission has charged a California-based attorney with defrauding investors seeking to participate in the EB-5 immigrant investor program, stealing their money to buy a yacht and prop up his other businesses. The SEC alleges that […]

Top 10 Hedge Fund Industry Trends for 2017

(HedgeCo.Net) Each year, Agecroft Partners predicts the top hedge fund industry trends through our contact with more than two thousand institutional investors and hundreds of hedge fund organizations. The hedge fund industry is very dynamic, and participants are best served […]

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