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SEC Charges Santa Monica-Based HF Manager in Cherry-Picking Scheme

The SEC charged a hedge fund manager with conducting a "cherry-picking" scheme by steering winning trades to proprietary trading accounts, and favored clients, to the detriment of certain hedge fund investors. The adviser was also charged with failing to disclose the firm's "precarious financial condition" to clients in a timely manner.

See: SEC Complaint.See also: SEC 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