The Securities and Exchange Commission today charged two Sarasota, Fla.-based investment advisers with securities fraud for misleading investors about the financial condition of three hedge funds they managed, and misrepresenting that they controlled the funds’ investment and trading activities when in fact they were being handled by Arthur G.
Posts Tagged ‘Investment Advisers’
SEC Charges Father-Son Investment Advisers for Hedge Fund Fraud
January 13th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Account Statements, Asset Values, Christopher Moody, Hedge Fund, Hedge Funds, Investment Advisers, Investment Fraud, Investment Partners, Investment Returns, Misleading Investors, Moodys, Nadel, Performance Numbers, Red Flags, Sarasota Fla, Sec Charges, Securities And Exchange Commission, Securities Fraud, Tampa Fla, Warning Signs 
No Comments »Supreme Court considers mutual fund advisers’ compensation
November 3rd, 2009 Before You Invest The Supreme Court heard arguments regarding compensation policies for mutual fund investment advisers. The court appeared reluctant to give judges a role in overseeing the policies, although some justices indicated that courts might have to intervene. The high court’s case focuses on mutual funds, but justices touched on compensation policies of other sectors.more at http://www.nytimes.com/2009/11/03/business/03bizcourt.html?_r=1&ref=global
SIFMA embraces new federal fiduciary standard
July 17th, 2009 Before You Invest SIFMA announced today that its Private Client Group Steering Committee unanimously supports a new federal fiduciary standard, which would be developed by the Securities and Exchange Commission, for broker-dealers and investment advisers who provide personalized investment advice. The proposed uniform set of regulatory standards is designed to strengthen safeguards for investors. “Under this new, federal fiduciary standard, it won’t matter who is giving the advice — broker or adviser — investors will be protected by the exact same federal fiduciary standard when receiving the same services,” said SIFMA President and CEO Timothy Ryan.more athttp://online.wsj.com/article/SB124777904357053753.html
SEC Director of Compliance Inspections to Resign
July 9th, 2009 Before You Invest The Securities and Exchange Commission announced today that Lori A. Richards, Director of the SEC’s Office of Compliance Inspections and Examinations (OCIE), plans to leave the agency after more than two decades of government service.Ms. Richards has been the Director of OCIE since it was made by Chairman Arthur Levitt in May 1995.
Posted in Finance Fraud Tags: Arthur Levitt, Broker Dealers, Chairman Arthur Levitt, Compliance Inspections, Credit Rating Agencies, Decades, Director Ms, Fund Managers, Government Service, Initiatives, Investment Advisers, Lori, Mutual Funds, Office Of Compliance, Oversight, Regulatory Organizations, Securities And Exchange, Securities And Exchange Commission, Service Ms, Trading Markets No Comments »California Hedge Fund Manager Charged For Operating Ponzi Scheme
June 24th, 2009 Before You Invest The Securities and Exchange Commission today charged a Chula Vista, Calif. resident and two entities he controls for operating a Ponzi-like scheme through five hedge funds.The SEC alleges that Moises Pacheco, Advanced Money Management, Inc. (AMM), and Business Development & Consulting Co. (BD&C) raised $14.7 million from more than 200 investors over a 3½-year period, acting as investment advisers to the five self-described hedge funds — AP Premium Value Funds I through IV and Capital Partnership Group.
Posted in Finance Fraud Tags: Amm, Angeles Regional Office, Business Development Consulting, Call Options, Capital Partnership, Chula Vista, Hedge Fund Manager, Hedge Funds, Investment Advisers, Investment Strategy, Lucrative Investment, Management Inc, Moises, Money Management, Monthly Statements, Pacheco, Partnership Group, Payoffs, Securities And Exchange Commission, Southern District Of California No Comments »Brokers and Their Fiduciary Duty
June 22nd, 2009 Before You Invest Investment advisers and consumer advocates have applauded President Obama’s proposal to establish a fiduciary duty for broker-dealers offering investment advice. “We reckon it’s fantastic,” said Diahann Lassus, chairwoman of the National Association of Personal Financial Advisors in Arlington Heights, Ill. “There should be a fiduciary standard for all advisers.” Richard Salmen, president of the Denver-based Financial Plotting Association, agrees.
Posted in Finance Fraud Tags: Arlington Heights, Broker Dealers, Chairwoman, Consumer Advocates, Fiduciary Duty, Financial Crisis, Financial Planning Association, Fpa, Investment Advice, Investment Advisers, Lassus, Napfa, National Association Of Personal Financial Advisors, Obama, Personal Financial Advisors, Proponents, Salmen, Suitability, Wall Street, White House No Comments »Securities and Exchange Commission charged a missing hedge fund manager with fraud
January 22nd, 2009 Before You Invest Securities and Exchange Commission charged a missing hedge fund manager with fraud on Wednesday, saying he misled investors and overstated the value of investments in six of his funds by at least $300 million.The six funds appear to have total assets of less than $1 million, the S.E.C.
Posted in Finance Fraud Tags: Civil Lawsuit, David Nelson, Federal District Court, Freezes, Hedge Fund Manager, Hedge Funds, Injunctions, Investment Advisers, Investment Companies, Investment Partners, Nadel, Regional Office, Restitution, Sarasota Fla, Sarasota Herald Tribune, Securities And Exchange Commission, Suicide Note, Tampa Fla, Victory Fund, Wrongdoing Comments Off
