(HedgeCo.Net) The Securities and Exchange Commission has charged Denver-based Spruce Power Holding Corporation, the successor to XL Fleet Corp., for misleading investors about revenue projections that topped $1 billion within three years of going public. XL Fleet, which provided hybrid […]
AssetMark To Pay $18m for Failing to Disclose Multiple Financial Conflicts
(HedgeCo,Net) The Securities and Exchange Commission has announced that Concord, California-based registered investment adviser AssetMark Inc. has agreed to pay more than $18 million to settle charges related to undisclosed conflicts of interest involving a cash sweep program operated by […]
Bruderman Asset Management and its Principal Charged for Failing to Disclose Misuse of Investment Funds
(HedgeCo.Net) The Securities and Exchange Commission has announced that New York-based Bruderman Asset Management LLC (BAM) and its principal, Matthew J. Bruderman, agreed to settle charges related to their failure to disclose the misuse of proceeds raised from investment advisory […]
Goldman to Pay SEC $6 Million in Penalties for Providing Deficient Blue Sheet Data
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Goldman Sachs & Co. LLC for failing to provide complete and accurate securities trading information, known as blue sheet data, to the SEC. Goldman agreed to pay a $6 million […]
SEC Cracks Alleged Ponzi Scheme Generating over $15m from over 450 investors
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Mexico-based company Aras Investment Business Group S.A.P.I. de C.V., its CEO Armando Gutierrez Rosas, and four individuals for fraudulently raising at least $15 million from more than 450 retail investors […]
New York Firm Charged with Acting as Unregistered Investment Advisers to Former Russian Billionaire
Firm and Owner’s failures to register prevented oversight of more than $7 billion in assets ((HedgeCo.Net) The Securities and Exchange Commission has filed charges against Concord Management LLC of Tarrytown, New York, and its owner and principal, Michael Matlin, for […]
Lyft Hit with $10m Penalty For Failing to Disclose Board Member’s Financial Interest in Private Shareholder’s Stock Transaction
(HedgeCo.Net) The Securities and Exchange Commission has charged Lyft Inc. for failing to disclose a company board director’s role in a shareholder’s sale of approximately $424 million worth of private shares of Lyft’s stock prior to the company’s initial public […]
CFTC Orders Utah Man to Pay More Than $2.5 Million for Leveraged Bitcoin Fraud
(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Jacob Orvidas. The order finds Orvidas fraudulently solicited at least four people (pool participants) to trade leveraged bitcoin in a commodity pool, lost almost […]
Connecticut Advisory Firm GlennCap and its Owner Charged with Cherry-Picking
(HedgeCo.Net) The Securities and Exchange Commission has settled fraud charges against GlennCap LLC, a Connecticut-based investment advisory firm, and its owner, Jonathan Vincent Glenn, for allocating profitable securities trades to favored accounts, including GlennCap’s own accounts and client accounts that […]
Minnesota Based Company and Founder Charged in Alleged Fraudulent Securities Offering
(HedgeCo.Net) The Securities and Exchange Commission has filed a complaint in federal court in Minnesota alleging that Robyn A. Bowman and her company Phoenix Asset Group, LLC perpetrated a fraudulent offering. The SEC’s complaint alleges that Bowman and Phoenix raised […]
Alternative Investment Platform YieldStreet Charged for Misleading Investors
(HedgeCo.Net) The Securities and Exchange Commission has announced a settled action against New York-based YieldStreet Inc. and its registered investment adviser subsidiary, YieldStreet Management LLC (together, YieldStreet), for failing to disclose critical information to investors in a $14.5 million asset-backed […]
SEC Charges Privately Held Monolith Resources for Using Separation Agreements that Violated Whistleblower Protection Rules
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Monolith Resources LLC, a privately held energy and technology company headquartered in Lincoln, Nebraska, for using employee separation agreements that violated the SEC’s whistleblower protection rules. According to the SEC’s […]
Linus Financial Agrees to Settle SEC Charges of Unregistered Offer and Sale of Securities
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Linus Financial, Inc. for failing to register the offers and sales of its retail crypto lending product, the Linus Interest Accounts. The SEC determined not to impose civil penalties against […]
Private Equity Firm Prime Group Charged for Inadequate Disclosure of Fees
NY-based company to pay $20.5 million to settle charges. (HedgeCo.Net) The Securities and Exchange Commission has charged Prime Group Holdings LLC, a private equity firm focused on alternative real estate asset classes, for failing to adequately disclose millions of dollars […]
Five Advisory Firms Charged for Custody Rule Violations
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against five investment advisers for failing to comply with requirements related to the safekeeping of client assets. Three of the firms were also charged with failing to timely update SEC disclosures […]
