SEC

SEC charges fake advisor with fraud

The SEC has charged an alleged investment adviser in New York for defrauding investors by convincing them to invest in his start-up businesses.

By Staff |November 22, 2012

2 min read

Industry

SEC raps ratings agencies

The Securities & Exchange Commission’s second annual report castigates nine registered credit rating agencies, including Standard & Poor’s, Moody’s and Fitch, for irregularities in ratings decisions and undisclosed conflicts of interest. To prevent insider dealing, each of the rating agencies was asked to keep forthcoming rating changes under wraps until formal announcement, says an FT […]

By Staff |November 16, 2012

1 min read

Industry

SEC proposes rules for security-based swap dealers

The SEC is proposing capital, margin, and segregation requirements for security-based swap dealers, as well as major security-based swap participants.

By Staff |October 18, 2012

1 min read

Industry

Broker used investor funds to pay mortgage, credit card bills

A U.S. broker has been charged with stealing money from clients to pay his personal mortgage and travel costs. He also operated a "Ponzi-like" scheme.

By Staff |September 14, 2012

3 min read

Knight Capital receives lifeline after trading error

Knight Capital Group—the firm responsible for last week’s stock market mayhem—was offered a US$400 million lifeline from other Wall Street companies yesterday. But, the handout comes at a steep price. Knight says it will get the cash infusion from an investor group led by Jefferies Group, as well as Blackstone, Getco, Stephens, Stifel Nicolaus and […]

3 min read

Broker charged in astrology-based Ponzi scheme

A former broker from Orlando, Fla. is being charged with defrauding 14 investors of more than $1 million in an astrology-based Ponzi scheme. The SEC alleges Gurudeo “Buddy” Persaud lured family, friends, and others into investing in his firm, White Elephant Trading Company, by guaranteeing their money would yield lofty returns of between 6% and […]

By Staff |June 22, 2012

2 min read

SEC fines U.S. fund-manager

Disgorgement is such an ugly word. But it could happen to Jason J. Koiner, a New York-based ‘fund manager’ and his two firms Absolute Fund Management and Absolute Fund Advisors. The SEC alleges that since November 2011 Koiner raised $11 million selling investors limited partnership interests. He promised investors that he would allocate capital of […]

1 min read

SEC

SEC charges fake advisor with fraud

SEC raps ratings agencies

SEC proposes rules for security-based swap dealers

Broker used investor funds to pay mortgage, credit card bills

SEC whistleblower awarded $50,000

Knight Capital receives lifeline after trading error

Broker charged in astrology-based Ponzi scheme

SEC investigates major Florida Ponzi scheme

SEC fines U.S. fund-manager

Canadian ran U.S. Ponzi scheme, fined