Category Archives: HedgeCo News
SEC Charges New Defendant in $43 Million Tribal Bonds Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged a Los Angeles man for his role in a fraudulent scheme to gain undisclosed control over two registered investment advisers so that he, his partner, and their associates could steal $43 million […]
State Street To Pay Over $88-Million To Settle Charges for Adding Undisclosed Markups on Client Expenses
(HedgeCo.Net) The Securities and Exchange Commission today announced that State Street Bank and Trust Company has agreed to pay over $88 million to settle charges for overcharging mutual funds and other registered investment company clients for expenses related to the […]
New Defendant Charged in $43 Million Tribal Bonds Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged a Los Angeles man for his role in a fraudulent scheme to gain undisclosed control over two registered investment advisers so that he, his partner, and their associates could steal $43 million […]
SEC Wins Jury Trial Against Broker Charged With Defrauding Customers
(HedgeCo.Net) Jurors in Manhattan federal court have returned a verdict in the Securities and Exchange Commission’s favor against a broker who was charged in January 2017 with fraud for excessively trading customer accounts using a trading scheme that generated hefty […]
SEC Adopts Capital, Margin, and Segregation Requirements for Security-Based Swap Dealers
(HedgeCo.Net) The Securities and Exchange Commission took another significant step toward establishing the regulatory regime for security-based swap dealers today by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Act. These and other rules […]
Intelligence Communications Company and Top Executives Charged With Defrauding Merger Investors
(HedgeCo.Net)The SEC has charged Ability Inc., an Israel-based intelligence communications company, its wholly-owned subsidiary, and two of its top executives with defrauding shareholders of a Florida-based special purpose acquisition company (SPAC), a company formed to raise capital for a merger […]
Walmart to Pay $144-Million To Settle FCPA Violations
(HedgeCo.Net) The Securities and Exchange Commission has charged Walmart with violating the Foreign Corrupt Practices Act (FCPA) by failing to operate a sufficient anti-corruption compliance program for more than a decade as the retailer experienced rapid international growth. Walmart agreed […]
KPMG Paying $50 Million Penalty for Illicit Use of PCAOB Data and Cheating on Training Exams
(HedgeCo.Net) The Securities and Exchange Commission has charged KPMG LLP with altering past audit work after receiving stolen information about inspections of the firm that would be conducted by the Public Company Accounting Oversight Board (PCAOB). The SEC’s order also […]
Wedbush to Pay More Than $8.1 Million for Improper Handling of ADRs
(HedgeCo.Net) The Securities and Exchange Commission has announced that Wedbush Securities Inc. will pay more than $8.1 million to settle charges for improper handling of “pre-released” American Depositary Receipts (ADRs). This is the SEC’s 11th action against a bank or […]
Industrial and Commercial Bank of China Affiliate to Pay More Than $42 Million for Improper Handling of ADRs
(HedgeCo.Net) The Securities and Exchange Commission has announced that Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), a wholly-owned subsidiary of Industrial and Commercial Bank of China Limited, will pay more than $42 million to settle charges for […]
Hedge Fund Adviser to Pay $5 Million for Compliance Failures Related to Valuation of Fund Assets
(HedgeCo.Net) The Securities and Exchange Commission has announced that a private fund manager in the mortgage-backed securities space has agreed to pay a $5 million penalty to settle charges stemming from compliance deficiencies that contributed to the firm’s failure to […]
Final Judgment Against Investment Adviser Charged with Fraud
(HedgeCo.Net) A federal court judge has entered a final judgment against Massachusetts resident and Cape Cod-area investment adviser Kimberly Pine Kitts in an SEC case that charged Kitts with defrauding multiple clients by stealing over $3 million from their investment […]