Hedge Fund News From HedgeCo.Net


SEC Establishes Supervisory Cooperation Arrangement With Hong Kong SFC

(HedgeCo.Net) The Securities and Exchange Commission today announced that it has established a comprehensive arrangement with the Hong Kong Securities and Futures Commission (SFC) as part of the SEC’s long-term strategy to enhance the oversight of regulated entities that operate […]

Financial Company Charged With Improper Accounting and Impeding Whistleblowers

(HedgeCo.Net) The Securities and Exchange Commission today announced that Seattle-based financial services company HomeStreet Inc. has agreed to pay a $500,000 penalty to settle charges that it conducted improper hedge accounting and later took steps to impede potential whistleblowers. HomeStreet’s […]

BlackRock Charged With Removing Whistleblower Incentives in Separation Agreements

(HedgeCo.Net) The Securities and Exchange Commission today announced that New York-based asset manager BlackRock Inc. has agreed to pay a $340,000 penalty to settle charges that it improperly used separation agreements in which exiting employees were forced to waive their […]

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 […]

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