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SEC Obtains Final Judgment against Investment Advisory Firm for "Cherry-Picking" Scheme

The SEC obtained a final judgement against Capital Management Associates ("CMA") and its owners for conducting a "cherry-picking" scheme.

The complaint found that the owners of CMA placed millions of dollars in securities trades without designating in advance whether they were trading personal funds or client funds, delaying the allocation of the trades so that they could cherry-pick winning trades for their personal accounts and dump losing trades on clients.

See: Litigation Release.

Tags

Regulated Activities
Conflicts of Interest Trading
Sub-Activity
Trade Allocation
Regulated Entities
Adviser / CTA / CPO
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC