The US District Court for the Middle District of Florida has frozen the assets of defendants Philip Leon of Altamonte Springs, Florida, Paul Rangel of Apopka, Florida, John Wilkins of Chuluota, Florida, and their company, Altamont Global Partners of Longwood,
The Commodity Futures Trading Commission has proposed new rules to require certain credit default swaps and interest rate swaps to be cleared by registered derivatives clearing organisations (DCOs). The proposed rule is the first clearing determination by the Commission under
The Honourable Jed S Rakoff, United States District Judge, United States District Court for the Southern District of New York, has entered a Final Judgment on Consent as to Mark Anthony Longoria, and a Final Judgment on Consent as to
The Securities and Exchange Commission has charged a former USD1bn hedge fund advisory firm and two executives with scheming to overvalue assets under management and exaggerate the reported returns of hedge funds they managed in order to hide losses and
The Northern District of California has entered an emergency order freezing the assets of defendants Victor Yu of San Jose, California, and his company VFRS based in Alameda, California. The court’s order also prohibits the destruction or alteration of books
The US Commodity Futures Trading Commission has obtained a federal court order requiring defendant Michael Justin Hoopes of Rexburg, Idaho, to pay more than USD10.4m in restitution and a civil monetary penalty of over USD1.4m for operating a Ponzi scheme
A total of 1,504 advisers to hedge funds and other private funds have registered with the agency since the Dodd-Frank Wall Street Reform and Consumer Protection Act mandated such registration. While some private fund advisers previously registered with the SEC
The Securities and Exchange Commission has amended its rules to exclude the value of a person’s home from net worth calculations used to determine whether an individual may invest in certain unregistered securities offerings. The changes were made to conform
The US Commodity Futures Trading Commission has issued an order filing and settling charges that Morgan Stanley Smith Barney, a futures commission merchant based in Purchase, New York, violated CFTC regulation 166.3 by failing to diligently supervise its employees’ handling
Brad L Demuzio and his company Demuzio Capital Management (DCM), both of Chubbuck, Idaho, are to pay over USD3m for operating a fraudulent USD1.8m commodity pool and foreign currency Ponzi scheme. The consent order and order of default judgment impose
