Category Archives: HedgeCo News
Advisory Firm Settles Charges of Defrauding Investors, Agrees to Refund Allegedly Ill-Gotten Gains to Harmed Clients
(HedgeCo.Net) The Securities and Exchange Commission has announced that SCF Investment Advisors, Inc. (SCF) has agreed to settle charges that it selected mutual funds and cash sweep money market funds for clients that provided undisclosed revenue to the firm’s affiliated […]
Hertz’s Former CEO Charged With Aiding and Abetting Company’s Financial Reporting and Disclosure Violations
(HedgeCo.Net) The Securities and Exchange Commission has charged former Hertz CEO and Chairman Mark Frissora with aiding and abetting the company in its filing of inaccurate financial statements and disclosures. Frissora has agreed to settle the charges and repay Hertz […]
CFTC Orders Interactive Brokers LLC to Pay More Than $12 Million for Anti-Money Laundering and Supervision Violations
(HedgeCo.Net) The Commodity Futures Trading Commission today filed and simultaneously settled charges against Interactive Brokers LLC, a registered futures commission merchant (FCM), for failing to diligently supervise its officers’, employees’, and agents’ handling of several commodity trading accounts and failing […]
Former CEO/RIA Charged with Data Manipulation and Valuation Fraud
(HedgeCo.Net) The Securities and Exchange Commission today announced charges against Brendan Matthew Ross of California, the owner and former CEO of registered investment adviser Direct Lending Investments, LLC (DLI), for directing an intricate, multi-year effort to fraudulently inflate the value […]
Former Investment Adviser Charged With Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has charged Jack Brewer with insider trading in the securities of COPsync, Inc. Brewer sold over $100,000 of COPsync stock in advance of a company announcement that caused the stock price to fall. According […]
SEC Charges Affiliated Advisers for Misrepresentations About Payment for Order Flow Arrangements
(HedgeCo.Net) The Securities and Exchange Commission today filed settled charges against affiliated registered investment advisers WBI Investments Inc. and Millington Securities Inc. for making material misrepresentations to clients about compensation Millington received in an institutional payment for order flow arrangement […]
SEC Charges CEO and Company with Defrauding First Responders and Others Out of Millions
(HedgeCo.Net) The Securities and Exchange Commission announced charges against a San Antonio-area businessman and his company for running a multi-million dollar fraudulent scheme that victimized scores of investors, many of them retired San Antonio police officers and other first responders. […]
SEC Files Emergency Action to Halt Alleged Scheme Generating Nearly Half a Billion dollars.
(HedgeCo.Net) The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and an asset freeze to stop an alleged fraudulent scheme that has raised nearly half a billion dollars from […]
Pharmaceutical Company and Former Executives Charged With Misleading Financial Disclosures
(HedgeCo.Net) The Securities and Exchange Commission has announced that Bausch Health, formerly Quebec, Canada-based Valeant Pharmaceuticals, agreed to pay a $45 million penalty to settle charges of improper revenue recognition and misleading disclosures in SEC filings and earnings presentations. Three […]
Former Georgia State Legislator Charged With Defrauding Investors in Ponzi Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged former Georgia state legislator and former member of the Georgia Board of Regents Clarence Dean Alford with defrauding at least 100 investors in his now-bankrupt energy development company, Allied Energy Services LLC. […]
VALIC Financial Advisors Charged with Failing to Disclose Payments to Promote Services to Florida Educators
(HedgeCo.Net) The Securities and Exchange Commission has charged Houston-based VALIC Financial Advisors Inc. (VFA) in a pair of actions for failing to disclose to teachers and other investors practices that generated millions of dollars in fees and other financial benefits […]
Agencies Adopt Final Rule on the Orderly Liquidation of Covered Broker-Dealers under Title II of the Dodd-Frank Act
(HedgeCo.Net) The Securities and Exchange Commission and the Federal Deposit Insurance Corporation have adopted a final rule required by the Dodd-Frank Act clarifying and implementing provisions relating to the orderly liquidation of certain brokers or dealers (covered broker-dealers) in the […]