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News and Alerts

06/23/2014

SEC Charges Hedge Fund Advisory Firm and Others in South Florida-Based Scheme to Misuse Investor Proceeds

The Securities and Exchange Commission today charged a West Palm Beach, Fla.-based hedge fund advisory firm and its founder with fraudulently shifting money from one investment to another without informing investors. The firm’s founder and another individual later pocketed some of the transferred investor proceeds to enrich themselves.Read more

06/20/2014

SEC Charges Private Equity Firm With Pay-to-Play Violations Involving Political Campaign Contributions in Pennsylvania. First Case Under Pay-to-Play Rules for Investment Advisers

The Securities and Exchange Commission today charged a Philadelphia-area private equity firm with violating “pay-to-play” rules by continuing to receive advisory fees from the city and state pension funds following campaign contributions made by an associate in 2011 to the governor of Pennsylvania and a candidate for mayor of Philadelphia.Read more

06/18/2014

Investor Alert: Affinity Fraud

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Alert to help educate investors about affinity fraud, a type of investment scam that preys upon members of identifiable groups, such as religious or ethnic communities or the elderly.Read more

06/16/2014

Investor Bulletin: Behavioral Patterns of U.S. Investors

In 2010, the SEC’s Office of Investor Education and Advocacy asked the Library of Congress’s Federal Research Division to prepare a report on behavioral traits of U.S. investors (Report). We are issuing this Investor Bulletin to remind investors about the Report’s findings and highlight the investing behaviors identified in the study that can undermine investment performance.Read more

06/16/2014

SEC Charges Hedge Fund Adviser With Conducting Conflicted Transactions and Retaliating Against Whistleblower. First SEC Case Under New Authority to Bring Anti-Retaliation Enforcement Actions.

The Securities and Exchange Commission today charged an Albany, N.Y.-based hedge fund advisory firm with engaging in prohibited principal transactions and then retaliating against the employee who reported the trading activity to the SEC. This is the first time the SEC has filed a case under its new authority to bring anti-retaliation enforcement actions. The SEC also charged the firm’s owner with causing the improper principal transactions. Read more