Last week, the Securities and Exchange Commission (“SEC”) charged a Washington-based hedge fund firm and its Chief Executive Officer & Chief Investment Officer, Chris Yoo with fraudulent inflammation of its private fund assets in order to receive unearned management fees. … Read More
Recently, the Securities and Exchange Commission (“SEC”) issued a “cease-and-desist” order against Dion Money Management, LLC (“Dion”) for “failure to disclose to clients the terms of certain compensation arrangements whereby the adviser received payments from third parties that were calculated … Read More
Earlier this week, the Securities and Exchange Commission (“SEC”) filed an enforcement action against BlackRock Advisors LLC for failing to fulfill its fiduciary duty. According to the SEC order, while managing energy-related funds at BlackRock, Daniel J. Rice III … Read More
The CFA Institute recently released its Guidance Statement on the Application of the Global Investment Performance Standards (GIPS) Standards to Asset Owners, which becomes effective on January 1, 2015. The Guidance Statement addresses the differences between the asset owner and … Read More
On September 23, 2014, the Securities and Exchange Commission (“SEC”) charged Barclays Capital Inc. (“Barclays”), a global banking services firm, with “failing to maintain an adequate internal compliance system.” After acquiring Lehman Brothers, a financial services firm that filed for … Read More
The U.S. Securities and Exchange Commission’s (“SEC”) Office of Investor Education and Advocacy recently released Investor Alert: Investment Newsletters Used as Tool for Fraud to assist investors in avoiding cleverly disguised schemes in investment newsletters. Promoting stocks without disclosing compensations … Read More
The Municipal Securities Rulemaking Board (“MSRB”) launched a new tool this past June that assists investors in determining the price of a municipal bond. The new price discovery tool can be accessed via the Electronic Municipal Market Access (“EMMA”) website. … Read More
This week Financial Industry Regulatory Authority’s (“FINRA’s”) Rule 2081 (“the Rule”) was approved by the Securities and Exchange Commission (“SEC”). The Rule will prohibit the expungement of customer complaints, due to agreed-upon settlements with customers, through the Central Registration Depository … Read More
