Category Archives: HedgeCo News
Transamerica Entities to Pay $97 Million to Investors Relating to Errors in Quantitative Investment Models
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against four Transamerica entities for misconduct involving faulty investment models and ordered the entities to refund $97 million to misled retail investors. According to the SEC’s order, investors put billions of […]
Former Investor Relations Consultant For Imperial, Barred From Violating The Antifraud Provisions
(HedgeCo.Net) A court has barred a repeat securities law violator from serving as an officer or director of publicly-traded companies for perpetuating an illegal market manipulation and insider trading scheme that involved Indiana-based company Imperial Petroleum, Inc., which purported to […]
Online Marketing Company Executives Charged With Inflating Operating Metrics
(HedgeCo.Net) The Securities and Exchange Commission today announced settled charges with two former top officers of Endurance International Group Holdings Inc. for overstating the company’s subscriber base, and charged a former executive of Constant Contact Inc. for making similar misrepresentations. […]
Merrill Lynch Agrees to Pay $8.9 Million to Settle Undisclosed Conflict in Advisory Decision
(HedgeCo.Net) Merrill Lynch, Pierce, Fenner & Smith has agreed to pay approximately $8.9 million to settle charges that it failed to disclose a conflict of interest arising out of its own business interests in deciding whether to continue to offer […]
Technology Fund Adviser and Founder Charged in Fraudulent Scheme
(HedgeCo.Net) The Securities and Exchange Commission today charged the founder of San Francisco-based venture capital funds and his investment advisory firm with overcharging investors to fund personal projects, including sending millions of dollars to his own virtual reality production company. […]
Unregistered Sales Agents Charged for Improperly Soliciting Investments in Oil and Gas Ventures
(HedgeCo.Net) The Securities and Exchange Commission filed a civil injunctive action against two sales agents for unlawfully acting as unregistered brokers and selling unregistered investments in two oil and gas companies based in Texas. The SEC’s complaint, filed in the […]
Citigroup to Pay More Than $10 Million for Books and Records Violations and Inadequate Controls
(HedgeCo.Net) The Securities and Exchange Commission today announced that Citigroup has agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, internal accounting controls, and trader supervision. The charges stem from $81 million […]
Two Firms and 18-Individuals Charged in Alleged Bond “Flipping” and Kickback Schemes
(HedgeCo.Net) The Securities and Exchange Commission today charged two firms and 18 individuals in a scheme to improperly divert new issue municipal bonds to broker-dealers at the expense of retail investors. According to the SEC’s complaint, the defendants – known […]
Ameriprise Financial Services Charged For Failing to Safeguard Client Assets
(HedgeCo.Net) The Securities and Exchange Commission has announced that Ameriprise Financial Services Inc. will pay $4.5 million to settle charges that it failed to safeguard retail investor assets from theft by its representatives. According to the SEC’s order, five Ameriprise […]
Unregistered Agent Charged With Improperly Soliciting Investments
(HedgeCo.Net) The SEC has filed a civil injunctive action against Chad Anthony Lewis, a Kentucky resident for unlawfully acting as an unregistered broker and selling unregistered investments in two oil and gas companies based in Texas. The SEC’s complaint, filed […]
Biotechnology Company, and CEO Charged with Illegal Sales of Stock and a Misleading Public Company Filing
(HedgeCo.Net) The Securities and Exchange Commission has charged Plandai Biotechnology, Inc., a penny stock company, and its Chairman and CEO with making illegal, unregistered sales of stock to unaccredited investors and with failing to adequately disclose that proceeds from sales […]
Michigan Investment Professional Charged in an Investment Scam Targeting His Brokerage Customers
dgeCo.Net)The Securities and Exchange Commission today charged a former registered representative with defrauding his brokerage customers out of nearly $4 million in a long-running investment scam. According to the SEC’s complaint, John C. Maccoll, who was affiliated with the Birmingham, […]