The Securities and Exchange Commission has filed a civil injunctive action against Patrick G Rooney, a resident of Oakbrook, Illinois, and his company, Solaris Management, LLC, the investment adviser to the Solaris Opportunity Fund, LP, for the fraudulent misuse of
The US Commodity Futures Trading Commission has charged Michael Anthony Jenkins of Raleigh, North Carolina, and his company, Harbor Light Asset Management (HLAM), with operating a Ponzi scheme for the purpose of trading E-mini S&P 500 futures contracts. From at
The Honourable Paul G Gardephe has entered consent judgments in the SEC’s case against Berton M Hochfeld and Hochfeld Capital Management, ordering injunctions, asset freezes, the appointment of a receiver, and other preliminary relief. The SEC filed its civil action
The Commodity Futures Trading Commission’s division of clearing and risk (DCR) has issued a time-limited, no-action letter granting relief from required clearing for certain swaps entered into by qualifying cooperatives. The no-action letter provides that DCR will not recommend an
The US Commodity Futures Trading Commission has filed a civil enforcement action charging defendant Feisal Sharif of Branford, Connecticut with operating a commodity pool Ponzi scheme that solicited approximately USD5.4m from at least 50 people to invest in a commodity
A federal court jury in Boston, Massachusetts returned a verdict of securities fraud liability against registered investment adviser EagleEye Asset Management and its sole principal, Jeffrey A Liskov, both of Plymouth, MA, in connection their fraudulent conduct toward advisory clients.
Federal investigators continue to tighten ranks around hedge fund manager Steven Cohen, arresting one of his former portfolio managers in what the US Attorney for New York has called “the most lucrative insider trading scheme ever charged.” Marc Powers, head
The Commodity Futures Trading Commission’s division of market oversight (DMO) has issued a time-limited no-action letter granting relief for bespoke or complex swaps from certain reporting obligations under Part 43 and Part 45 of the Commission’s regulations. For bespoke or
Timothy S Durham, former chief executive of Ohio-based Fair Finance, has been sentenced to 50 years in prison for orchestrating a USD200m scheme that defrauded more than 5,000 investors over almost five years. Judge Jane Magnus-Stinson of the US District
The Securities and Exchange Commission has voted unanimously to approve new rules to significantly curtail the influence of "pay to play" practices by investment advisers. Pay to play is the practice of making campaign contributions and related payments to elected
