Category Archives: HedgeCoVest News

CFTC Orders J.P. Morgan to Pay $850,000 for Swap Reporting Failures

(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC, and J.P. Morgan Securities, plc (collectively, J.P. Morgan), provisionally registered swap dealers, for failing to comply […]

SEC Charges Multiple Defendants with Operating Multi-Million Dollar Ponzi Scheme

(HedgeCo.Net) The Securities and Exchange Commission has charged Terry Nikopoulos of Aurora, Ontario, Canada and four entities he controlled, TKJ Investments Corp., TKJ Holdings Corp., Preeminent Trade Group Inc., and The Elyte Group Corp., and Justin R. Kimbrough of Plano, […]

Empires Consulting Corp. Charged with Fake Trading Scheme

(HedgeCo.Net) The Securities and Exchange Commission has announced fraud charges against Empires Consulting Corp. (EmpiresX), its founders Emerson Sousa Pires and Flavio Mendes Goncalves, and its head trader Joshua David Nicholas, for a scheme that allegedly raised at least $40 […]

Ernst & Young to Pay $100 Million Penalty for Employees Cheating on CPA Ethics Exams and Misleading Investigation

(HedgeCo.Net) Largest Penalty Ever Imposed by SEC Against an Audit Firm The Securities and Exchange Commission has charged Ernst & Young LLP (EY) for cheating by its audit professionals on exams required to obtain and maintain Certified Public Accountant (CPA) […]

Canadian Public Company and Its CEO Charged in Fraudulent Microcap Scheme

(HedgeCo.Net) The Securities and Exchange Commission has charged Canadian citizen Bradley Moynes and Canadian corporation Digatrade Financial Corp. for engaging in a deceptive scheme involving microcap companies that generated more than $1.5 million in unlawful stock sale proceeds at the […]

SEC Obtains Preliminary Injunction and Appointment of a Receiver in Pre-Ipo Stock Fraud by Unregistered Broker-Dealer

(HedgeCo.Net) The Securities and Exchange Commission has obtained a preliminary injunction, appointment of a receiver, and continued partial asset freeze order against StraightPath Venture Partners LLC, StraightPath Management LLC, Brian K. Martinsen, Michael A. Castillero, Francine A. Lanaia, and Eric […]

SEC Adopts Rules to Require Electronic Filing for Investment Advisers and Institutional Investment Managers

(HedgeCo.Net) The Securities and Exchange Commission has adopted amendments to require certain documents filed by investment advisers, institutional investment managers, and certain other entities to be filed or submitted electronically. The amendments also make technical amendments to modernize Form 13F […]

SEC Charges Egan-Jones Ratings Co. and CEO with Conflict of Interest Violations

(HedgeCo.Net) The Securities and Exchange Commission today charged Haverford, PA-based Egan-Jones Ratings Company, a nationally recognized statistical rating organization (NRSRO) registered with the Commission in certain ratings classes, with violating conflict of interest provisions. The SEC also charged the company’s […]

SEC Charges Rochester, NY, and City’s Former Executives and Municipal Advisor with Misleading Investors

HedgeCo.Net) City sold $119 million of bonds to investors without disclosing financial distress. The Securities and Exchange Commission has charged the City of Rochester, New York, its former finance director Rosiland Brooks-Harris, and former Rochester City School District CFO Everton […]

Brokerage firm Allegedly sold $13.3 million worth of high-risk bonds to retirees

(HedgeCo.Net) The Securities and Exchange Commission has charged registered broker-dealer Western International Securities, Inc. and five of its registered representatives, or brokers – Nancy Cole, Patrick Egan, Andy Gitipityapon, Steven Graham, and Thomas Swan – with violating Best Interest Obligation […]

Weiss Asset Management Charged with Short Selling Violations

(HedgeCo.Net) The Securities and Exchange Commission has announced that investment advisory firm Weiss Asset Management LP has agreed to pay approximately $6.9 million to settle charges that it violated the federal securities laws when it unlawfully purchased stock in seven […]

Schwab Subsidiaries Misled Robo-Adviser Clients about Absence of Hidden Fees

(HedgeCo.Net) The Securities and Exchange Commission today charged three Charles Schwab investment adviser subsidiaries for not disclosing that they were allocating client funds in a manner that their own internal analyses showed would be less profitable for their clients under […]