Category Archives: Insider Trading
SEC Settles Charges with Previously Barred N.Y. Adviser
(HedgeCo.Net) The Securities and Exchange Commission today announced that it has agreed to resolve its claims against Walter F. Grenda, Jr., who was charged with violating a Commission order barring him from association with an investment adviser and with aiding […]
SEC Charges Two Robo-Advisers With False Disclosures
(HedgeCo.Net) The Securities and Exchange Commission has instituted settled proceedings against two robo-advisers for making false statements about investment products and publishing misleading advertising. The proceedings are the SEC’s first enforcement actions against robo-advisers, which provide automated, software-based portfolio management […]
JPMorgan to Pay More Than $135 Million for Improper Handling of ADRs
(HedgeCo.Net) The Securities and Exchange Commission has announced that JPMorgan Chase Bank N.A. will pay more than $135 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). ADRs – U.S. securities that represent foreign shares of […]
CFTC Orders Commodity Trading Firm and Principal to Pay a $315,000 Civil Monetary Penalty for “Cherry-Picking” Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Jonathan Hansen (Hansen) of Dana Point, California, and his Newport Beach, California, based company, Newport Private Capital LLC, (NPC), for engaging in a […]
Two Advisory Firms, CEO Charged With Mutual Fund Share Class Disclosure Violations
(HedgeCo.Net) The Securities and Exchange Commission today announced settled charges against two New York-based investment advisers and the CEO of one of the advisers who selected mutual fund share classes inconsistent with their disclosures to clients. The firms and the […]
SEC Proposes Rule Changes for Fund of Funds Arrangements
(HedgeCo.Net) The Securities and Exchange Commission has voted to propose a new rule and related amendments designed to streamline and enhance the regulatory framework for fund of funds arrangements. Funds of funds are created when a mutual fund or other […]
SEC Charges 13 Brokers Who Sold $350 Million of Unregistered Securities to Retail Investors
(HedgeCo.Net) Charges have been filed against an additional 13 individuals and 10 companies for unlawfully selling securities of Woodbridge Group of Companies LLC to retail investors. Woodbridge collapsed into bankruptcy in December 2017 and the SEC previously charged the company, […]
Three Developers to Repay Almost $50-Million to Investors
(HedgeCo.Net) Three Houston area developers have been charged with Fraudulent EB-5 Offerings – America Modern Green Senior (Houston) LLC, America Modern Green Community (Houston) LLC, and America Modern Green Residential (Houston) LLC – have repaid the $49.5 million that they […]
Former New York Investment Advisor and Daughter Charged With Conducting a Ponzi Scheme
(HedgeCo.Net) A former Rockland County, New York-based investment adviser and his daughter have been charged by the SEC with conducting an alleged multi-million dollar Ponzi scheme that defrauded local community members as well as members of their family and close […]
Agria Corporation and Executive Chairman Charged With Fraud
(HedgeCo.Net) A multinational agricultural company has agreed to pay $3 million to settle charges that it concealed substantial losses from investors through fraudulent accounting in connection with its divestiture of its primary operating entity. In a related action, the company’s […]
Executives To Pay $2.7 Million to Settle Alleged ICO Scam Charges
(HedgeCo.Net) Two former executives behind an allegedly fraudulent initial coin offering (ICO) that was stopped by the Securities and Exchange Commission earlier this year have been ordered in federal court to pay nearly $2.7 million and prohibited from serving as […]
SEC Investigating Potential Pump-And-Dump Scheme.
(HedgeCo.Net) SEC Files Subpoena Enforcement in Possible Market Manipulation Scheme. The Securities and Exchange Commission filed a subpoena enforcement action against NVC Fund LLC and its principal, Frank Ekejija, seeking an order directing them to comply with an investigative subpoena […]