May 20, 2011
The SEC declared final an initial cease and desist order entered by an SEC administrative law judge (“ALJ”) against David W. Baldt (“Baldt”).
May 20, 2011
SEC Revokes Registration of Securities of Columbia Futures Fund for Failure to Make Required Periodic Filings
The SEC revoked the registration of each class of registered securities of Columbia Futures Fund for failure to make required SEC periodic filings.
May 11, 2011
The SEC charged an investment firm purportedly located in Kirkland, Washington, and its president, who lives in Honolulu, for making false statements in a report to the SEC and refusing to allow the SEC’s staff to review the firm’s books and records.
April 8, 2011
SEC Charges Former CFO of Hedge Fund Adviser with Unauthorized Transfers of More than $870 Million in Client Funds
The SEC charged Perry A. Gruss (Gruss), the former chief financial officer of D.B. Zwirn & Co., L.P. (DBZCO), alleging aiding and abetting fraud in connection with the improper transfer of client cash.
April 6, 2011
The CFTC brought charges against New Century Investment Management LLC (“New Century”) of Southampton, Pennsylvania, and its principal, Ward Onsa (“Onsa”) of Marco Island, Florida, for solicitation fraud, misappropriation and issuing false account statements to commodity pool participants.
April 4, 2011
The SEC charged Thomas H. Bruderman, a sector trader of FMR Co.’s (“Fidelity”) equity trading desk, with accepting compensation prohibited by Section 17(e)(1) of the Investment Company Act of 1940 (1940 Act) from representatives of brokerage firms with whom he conducted business on behalf of Fidelity.
March 25, 2011
The SEC brought charges against Daniel Sholom Frishberg (“Frishberg”), principal of Daniel Frishberg Financial Services (“DFFS”), an investment adviser registered with the SEC.
March 2, 2011
The SEC charged a hedge fund adviser with concealing more than $12 million in investment proceeds that he owed investors in the hedge fund he managed.
February 28, 2011
The SEC charged KPMG Australia and certain other KPMG member firms with auditor independence violations. While this action may not have involved investment management firms, the SEC’s auditor independence rules are applicable to registered investment companies.