Hedge Fund News From HedgeCo.Net


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 […]

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 […]

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  • ‘Clinton Cash’ Book Got Most of Its Funding From One Hedge Fund Star
    Today, January 19, 2017 : Permalink

    (Bloomberg) The nonprofit group behind the bestseller “Clinton Cash,” whose investigation of dealings by Hillary Clinton and her family furnished ammunition for Donald Trump in last year’s presidential campaign, got two-thirds of its funding from a single hedge-fund manager. Robert […]

  • This Hedge Fund Says China’s Next Big Short Is Stocks
    Today, January 19, 2017 : Permalink

    (Bloomberg) When Kevin Smith realized late last year that China was getting serious about defending its currency, his first move was to dial back bearish bets on the yuan. His second move: double down on wagers against Chinese stocks. Smith, […]

  • Belgrave Capital Management Unveils New UCITS-Compliant Fund of Funds
    Today, January 19, 2017 : Permalink

    (FinAlternatives) London-based Belgrave Capital Management, a unit of Swiss financial services company Banca del Ceresio, has launched a new UCITS-compliant fund of funds strategy aimed at providing exposure to a number of leading equity managers. To read this article:

  • State Street To Pay $64.6M To Resolve U.S. Probes
    Today, January 19, 2017 : Permalink

    (FinAlternatives) State Street will pay $64.6 million to resolve U.S. investigations into what prosecutors said was a scheme to defraud six clients through secret commissions on billions of dollars of trades, authorities said on Wednesday. To read this article:



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