Category Archives: HedgeCo Networks Press Releases
Six Credit Rating Agencies Hit with $49M in fines and charged with Significant Recordkeeping Failures
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against six nationally recognized statistical rating organizations, or NRSROs, for significant failures by the firms and their personnel to maintain and preserve electronic communications. The firms admitted the facts set forth […]
Broker-Dealer Nationwide and Two Investment Advisers Charged with Violating Whistleblower Protection Rule
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against three affiliated registrants, Commission-registered broker-dealer Nationwide Planning Associates, Inc. and investment adviser NPA Asset Management, LLC, and state-registered investment adviser Blue Point Strategic Wealth Management, LLC, for impeding brokerage customers […]
China-based QZ Asset Management Ltd. and its CEO Charged in Pre-IPO Fraud Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against China-based investment adviser QZ Asset Management Limited a/k/a Qianze Asset Management Limited (QZ Asset), its South Dakota-based holding company QZ Global Limited, and the CEO of both entities, Blake Yeung […]
SEC Charges Brothers Jonathan and Tanner Adam with $60 Million Ponzi Scheme
(HedgeCo.Net) The Securities and Exchange Commission has obtained emergency asset freezes against Jonathan Adam, a resident of Angleton, Texas, and his brother, Tanner Adam, a resident of Miami, Florida, and against their respective entities, GCZ Global LLC and Triten Financial […]
Equiniti, formerly known as American Stock Transfer Charged after losing $6.6m in client funds
(HedgeCo.Net) The Securities and Exchange Commission has announced settled charges against New York-based registered transfer agent Equiniti Trust Company LLC, formerly known as American Stock Transfer & Trust Company LLC, for failing to assure that client securities and funds were […]
Carl Icahn Charged with hiding billions in loans backed by IEP stock
(HedgeCo.Net) The Securities and Exchange Commission today announced charges against Carl C. Icahn and his publicly traded company, Icahn Enterprises L.P. (IEP), for failing to disclose information relating to Icahn’s pledges of IEP securities as collateral to secure personal margin […]
Russell Todd Burkhalter and His Atlanta-Firm Charged With $300 Million Ponzi Scheme
(Hedgeco.Net) The Securities and Exchange Commission today announced that it obtained a preliminary injunction, asset freeze, and other emergency relief against Atlanta-based Drive Planning LLC and its founder and CEO, Russell Todd Burkhalter, to halt a $300 million real estate […]
Twenty-Six Firms to Pay $390 Million Combined to Settle Charges for Recordkeeping Failures
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications. The firms admitted […]
Founder of the BitClout blockchain protocol Charged with Fraud and Unregistered Offering of Crypto Asset Securities
(HedgeCo.Net) The Securities and Exchange Commission has charged Nader Al-Naji with perpetrating a multi-million-dollar fraudulent crypto asset scheme involving a social media platform called BitClout and its native token of the same name (herein, “BTCLT”). According to the SEC’s complaint, […]
SEC Awards More Than $37 Million to a Whistleblower
(HedgeCo.Net) The Securities and Exchange Commission has announced an award of more than $37 million to a whistleblower who provided information not previously known to the SEC and which significantly contributed to a successful enforcement action. The whistleblower also met […]
SEC Charges R.R. Donnelley & Sons Co. with Cybersecurity-Related Controls Violations
(HedgeCo.Net) The Securities and Exchange Commission as announced that R.R. Donnelley & Sons Company (RRD), a global provider of business communication and marketing services, agreed to pay over $2.1 million to settle disclosure and internal control failure charges relating to […]
Terraform and Kwon to Pay $4.5 Billion Following Fraud Verdict
(HedgeCo.Net) The Securities and Exchange Commission has announced that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than $4.5 billion following a unanimous jury verdict holding them liable for orchestrating a years-long fraud involving crypto asset securities […]
