Category Archives: HedgeCo News
Supervisor Charged for Role in Brokerage Firm’s Improper Handling of ADRs
(HedgeCo.Net) The Securities and Exchange Commission has announced that Domenick Migliorato, a former supervisor of the securities lending desk at Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), has agreed to settle charges for his supervisory failures involving […]
Austin Investment Adviser Revoked for Fraud
(HedgeCo.Net) Texas Securities Commissioner Travis J. Iles revoked the registration of George A. “Gus” Marwieh, who fraudulently sold more than $5 million in pension-linked investments and real estate development notes to clients without disclosing his excessive commissions, misuse of client […]
MUFG Investor Services Acquires Select Divisions of Maitland’s Hedge Fund Administration Business
(HedgeCo.Net) MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group (“MUFG”), has reached an agreement to acquire select divisions of the fund administration business of Maitland, a privately owned global advisory, administration and family office firm. […]
Man Charged with Fraud, and Unregistered Brokerage Activity
(HedgeCo.Net) The Securities and Exchange Commission charged Richard Andrew Mallion with engaging in fraud, acting as an unregistered broker, and participating in an unregistered securities offering in connection with two issuers, Virtual MediClinic USA LLC (“Virtual MediClinic”) and The Luxurious […]
SEC Halts Alleged $1.7 Billion Unregistered Digital Token Offering
(HedgeCo.Net) The Securities and Exchange Commission has filed an emergency action and obtained temporary restraining order against two offshore entities conducting an alleged unregistered, ongoing digital token offering in the U.S. and overseas that has raised more than $1.7 billion […]
SEC Charges Two Individuals with Defrauding Main Street Investors Through the Sale of Binary Options
(HedgeCo.Net) The Securities and Exchange Commission charged two foreign individuals, Anton Senderov and Lior Babazara a/k/a Lior Bar, with defrauding more than 2,800 U.S. investors and causing them to lose over $5 million through online sales of high-risk securities known […]
Defendants Charged in Fraudulent ICO to Pay Nearly $7 Million
(HedgeCo.Net) The Securities and Exchange Commission announced that it has obtained a final judgment against the proprietors of the PlexCoin Initial Coin Offering (ICO), who consented to a judgment enjoining them from future violations of the antifraud provisions of the […]
Agencies Finalize Changes to Simplify Volcker Rule
(HedgeCo.Net) Five federal financial regulatory agencies on Tuesday announced that they finalized revisions to simplify compliance requirements relating to the “Volcker rule.” By statute, the Volcker rule generally prohibits banking entities from engaging in proprietary trading or investing in or […]
SEC Charges Four Individuals in Broker Bribery Scheme
(HedgeCo.Net) The Securities and Exchange Commission has filed fraud charges against three individuals who participated in a scheme to bribe a stockbroker to buy a company’s stock in his customers’ accounts without the customers’ knowledge. The defendants allegedly took several […]
SEC Announces Fraud Charges Related to Wisconsin Investment Fund
(HedgeCo.Net) The Securities and Exchange Commission has charged Bluepoint Investment Counsel, LLC, Michael Hull, Christopher Nohl, Greenpoint Asset Management II, LLC, and Chrysalis Financial LLC (collectively “defendants”) with fraud and other violations in connection with their operation of the Greenpoint […]
CFTC Orders RBC Capital Markets, LLC to Pay $5 Million for Supervisory Failures
(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced the agency issued an order on Monday, September 30, 2019, filing and setting charges against RBC Capital Markets, LLC (RBCCM), a registered futures commission merchant (FCM), for failing to meet its […]
SEC Obtains Final Judgments Against Lek Securities and CEO in Layering, Manipulation Case
(HedgeCo.Net) A federal court judge entered final judgments against New York-based brokerage firm Lek Securities Corp. and Chief Executive Officer Sam Lek, who were charged by the Securities and Exchange Commission with facilitating manipulative U.S. trading by a Ukraine-based firm […]