The Securities and Exchange Commission (SEC) has charged Texas-based financial services firm Life Partners Holdings Inc and three of its senior executives over their involvement in a fraudulent disclosure and accounting scheme involving life settlements. The SEC alleges that Life
The Securities and Exchange Commission has filed a civil injunctive action charging ThinkStrategy Capital Management and its sole managing director, Chetan Kapur, with deceptive conduct in connection with two hedge funds that they managed and advised: ThinkStrategy Capital Fund and
The US Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges that Alan A Grant and his company, Francis Grant Investments Inc (FGI), of Davie, Florida, committed fraud by failing to disclose to customers that
The Securities and Exchange Commission has filed a civil injunctive action against Stephen M Folan, a former registered representative in the Chicago office of FTN Financial Securities Corp (FTN), for assisting Sentinel Management Group, Inc (Sentinel), a bankrupt former investment
The Securities and Exchange Commission today charged a longtime Bernie Madoff employee with falsifying books and records in order to hide Madoff’s fraudulent investment advisory operations from regulators. The SEC alleges that Enrica Cotellessa-Pitz, who worked at Bernard L Madoff
The Commodity Futures Trading Commission (CFTC) has issued a Final Order regarding the effective date for swap regulation. On 14 July, 2011, the CFTC granted temporary exemptive relief from certain provisions of the Commodity Exchange Act that otherwise would have
The US Commodity Futures Trading Commission (CFTC) has obtained a federal consent order for permanent injunction against CFTC defendant Jeffrey L Groendyke (doing business as JG Forex Fund) of Middleville, Michigan, requiring him to pay USD963,141 in restitution and a USD420,000 civil monetary
The Securities and Exchange Commission has charged UBS Securities LLC for inaccurate recording practices when providing and recording “locates” to customers seeking to execute short sales. UBS settled the enforcement action by agreeing to pay a USD8 million penalty and
The Commodity Futures Trading Commission’s division of swap dealer and intermediary oversight (DSIO) has issued a no-action letter to provide relief from registration for various swaps intermediaries until 31 December 2012. Without the delay, certain entities would have to be
The US Commodity Futures Trading Commission has filed a notice of intent to revoke the registrations of Brian Kim and Liquid Capital Management (LCM). LCM is a registered commodity pool operator and commodity trading advisor. Kim is registered as an
