Category Archives: Insider Trading
16 Wall Street Firms Charged with Widespread Recordkeeping Failures
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against 15 broker-dealers and one affiliated investment adviser for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications. The firms admitted the facts set […]
SEC Charges Father-Son Duo and Associate in Market Manipulation Schemes Resulting in a New Jersey Deli with a $100 Million Valuation
(HedgeCo.Net) The Securities and Exchange Commission has charged Peter L. Coker Sr., Peter L. Coker Jr., and James T. Patten for their roles in orchestrating fraudulent manipulative securities trading schemes. These schemes included artificially inflating the share price of Hometown International, […]
Morningview Financial Charged with Acting as Unregistered Securities Dealers
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Morningview Financial, LLC (“Morningview Financial”) and its managing member, Miles M. Riccio of Los Angeles, California, for failing to register as securities dealers with the SEC. Morningview Financial and Riccio […]
Boeing to Pay $200 Million to Settle SEC Charges that it Misled Investors about the 737 MAX
(HedgeCo.Net) The Securities and Exchange Commission has charged The Boeing Company and its former CEO, Dennis A. Muilenburg, with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019. The crashes involved Boeing’s 737 MAX airplane […]
Morgan Stanley Smith Barney to Pay $35 Million for Extensive Failures to Safeguard Personal Information of Millions of Customers
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Morgan Stanley Smith Barney LLC (MSSB) stemming from the firm’s extensive failures, over a five-year period, to protect the personal identifying information, or PII, of approximately 15 million customers. MSSB […]
Sparkster to Pay $35 Million to Harmed Investor Fund for Unregistered Crypto Asset Offering
(HedgeCo.Net) The Securities and Exchange Commission has issued a cease-and-desist order against Sparkster Ltd. and its CEO, Sajjad Daya, for the unregistered offer and sale of crypto asset securities from April 2018 through July 2018 and charged crypto influencer Ian […]
SEC Charges Blockchain Promoter and Companies with $4 Million Fraud
(Hedgeco.Net) The Securities and Exchange Commission has filed fraud charges against Gabriel Edelman and his affiliated entities, Creative Advancement LLC and Edelman Blockchain Advisors LLC, for fraudulently raising funds and misappropriating funds from investors. The SEC’s complaint alleges that, between […]
Loop Capital Markets Charged in First Action against Broker-Dealer for Violating Municipal Advisor Registration Rule
(HedgeCo.Net) The Securities and Exchange Commission has charged Chicago-based Loop Capital Markets, LLC for providing advice to a municipal entity without registering as a municipal advisor. The action marks the first time the SEC has charged a broker-dealer for violating […]
VMware Hit with $8M Penalty and Charged with Misleading Investors by Obscuring Financial Performance
(HedgeCo.Net) The Securities and Exchange Commission has charged VMware Inc. for misleading investors about its order backlog management practices, which enabled the Palo Alto, California-based technology company to push revenue into future quarters by delaying product deliveries to customers, concealing […]
Hudson Advisors and Lone Star Global Charged for Failing to Disclose Fund Fees Included $50 Million in Tax Liability
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against registered investment advisers Hudson Advisors L.P. and Lone Star Global Acquisitions Ltd. for including Hudson’s owner’s anticipated income tax liability as a component of certain fees charged to 14 private […]
SEC Charges “Money Magnet” Promoter and Company with Offering Fraud Totaling Approximately $300,000
(HedgeCo.Net) The Securities and Exchange Commission has charged Money Magnet Platinum Membership Initiative LLC (“MMPMI”) and its principal, LaKenya Hopkins, with fraudulently raising funds and misappropriating those funds from investors. The SEC’s complaint alleges that, between late 2020 and early […]
Perceptive Advisors Charged for Failing to Disclose SPAC-Related Conflicts of Interest
(HedgeCo.Net) The Securities and Exchange Commission has charged New York-based investment adviser Perceptive Advisors LLC with failing to disclose conflicts of interest regarding its personnel’s ownership of sponsors of special purpose acquisition companies (SPACs) into which Perceptive advised its clients […]