Category Archives: HedgeCo News
SEC Charges Former Financial Services Executive With FCPA Violations
(HedgeCo.Net) A former executive of a financial services company has been charged with orchestrating a bribery scheme to help a client to win a government contract to build and operate an electrical power plant in the Republic of Ghana in […]
Seven Charged in Microcap Fraud Scheme
(HedgeCo.Net) The Securities and Exchange Commission charged Massachusetts resident Douglas Leighton for a scheme in which he allegedly acquired discounted shares in a microcap company, knowingly failed to disclose his holdings and sales, and manipulated the public market for those […]
CFTC Extends Certain Comment Periods in Response to COVID-19
(HedgeCo.Net) The Commodity Futures Trading Commission today announced that it has voted to extend certain currently-open comment periods in light of the COVID-19 (coronavirus) pandemic. The extensions encompass rules proposed by the Division of Market Oversight (DMO) for which current […]
Foreign National and American Trader Settle Fraud Charges in EDGAR Hacking Case
(HedgeCo.Net) The Securities and Exchange Commission today announced settlements with David Kwon and Igor Sabodakha, two traders who allegedly profited from trading on nonpublic corporate earnings information hacked from the SEC’s EDGAR system. The settlement agreements are subject to court […]
CFTC Issues COVID-19 Customer Advisory on Fee Scams
(HedgeCo.Net) The Commodity Futures Trading Commission today issued a Customer Advisory informing the public to be on alert for frauds seeking to profit from recent job losses due to the COVID-19 (coronavirus) pandemic. This is the second advisory the CFTC […]
Former Investment Adviser Settles Fraud Action
(HedgeCo.Net) The U.S. District Court for the Southern District of New York entered a final consent judgment against International Investment Group, LLC (IIG), a former registered investment adviser, which the Securities and Exchange Commission had charged with securities fraud for […]
Cantor Fitzgerald Agrees to Pay $3.2 Million to Settle Charges for Providing Deficient Blue Sheet Data
(HedgeCo.Net) Cantor Fitzgerald & Co. has agreed to pay $3.2 million to settle charges for providing the SEC with incomplete and inaccurate securities trading information known as “blue sheet data.” According to the SEC’s order, for almost five years, Cantor […]
SEC Awards Approximately $2 Million to Whistleblower
(HedgeCo.Net) The Securities and Exchange Commission has announced an award of approximately $2 million to a whistleblower who provided vital information and assistance that substantially contributed to an ongoing investigation. The whistleblower’s information would have been difficult for the agency […]
Agencies Will Consider Comments on Volcker Rule Modifications Following Expiration of Comment Period
(HedgeCo.Net) Five federal financial regulatory agencies on Thursday announced that they will consider comments submitted before May 1, 2020, on their proposal to modify the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private […]
Judgment Obtained Against Promoter Who Fraudulently Raised $3 Million for Christian Concerts
(HedgeCo.Net) A final judgment has been obtained against promoter Jeffrey E. Wall, of Freeport, Maine, and his business, The Lighthouse Events LLC. The SEC charged Wall and Lighthouse in April 2019 with operating an egregious community-based financial fraud related to […]
CFTC Provides Further Relief to Market Participants in Response to COVID-19
(HedgeCo.Net) The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) today announced that it has issued additional targeted, temporary no-action relief to foreign affiliates of certain futures commission merchants (FCMs) in response to the COVID-19 (coronavirus) […]
Former Investment Banker Found Liable in International Insider Trading Scheme
(HedgeCo.Net) The U.S. District Court for the Southern District of New York has entered a final consent judgment against Bryan Cohen, a former executive at a global investment bank who was charged with misappropriating confidential information he obtained through his […]