The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order requiring defendant Michael J Welke, of Omaha, Nebreska, to pay USD257,000 in disgorgement and a USD130,000 civil monetary penalty to settle CFTC charges of fraud, failure to
The Securities and Exchange Commission’s asset management unit has been investigating whether hedge fund managers have overvalued assets in “side pockets” and then charged investors higher fees based on those inflated values. A side pocket is a type of account
The Securities and Exchange Commission has charged a Houston-based hedge fund manager and his firm with defrauding investors in two hedge funds and steering bloated fees to a brokerage firm chief executive officer. An investigation by the SEC’s enforcement
Connecticut-based hedge fund advisory firm CR Intrinsic Investors has agreed to pay more than USD600m to settle Securities and Exchange Commission (SEC) charges that it participated in an insider trading scheme involving a clinical trial for an Alzheimer’s drug being
New York-based hedge fund advisory firm Sigma Capital Management has agreed to pay nearly USD14m to settle the Securities and Exchange Commission (SEC) charges that the firm engaged in insider trading based on non-public information obtained through one of its
Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc (DBSI) (collectively, DB), are to pay a USD30 million civil monetary penalty to settle CFTC charges relating to manipulation, attempted manipulation and spoofing of the precious metals futures markets. A CFTC Order finds
Kevin Scott Antonovich, a resident of Cherry Grove, New York, is to pay USD554,375 in restitution and a civil monetary penalty for violations of the Commodity Exchange Act and CFTC Regulations. A court order issued by the US District Court
The SEC has filed an emergency enforcement action to halt fraudulent conduct concerning Tenet Capital Partners Convertible Opportunities Fund, LP. In addition to th
The US Commodity Futures Trading Commission has filed an enforcement action charging Chicago-based New World Holdings with destroying business records and failing to diligently supervise employees. New World Holdings is a registered introducing broker and commodity trading adviser. The firm’s
Commerzbank is to a pay USD12 million civil monetary penalty to settle CFTC charges relating to numerous violations of the Commodity Exchange Act (CEA) and CFTC Regulations, including failing to supervise its Swap Dealer’s activities for more than 5 years
