SEC

SEC fines U.S. fund-manager

Disgorgement is such an ugly word. But it could happen to Jason J. Koiner, a New York-based ‘fund manager’ and his two firms Absolute Fund Management and Absolute Fund Advisors. The SEC alleges that since November 2011 Koiner raised $11 million selling investors limited partnership interests. He promised investors that he would allocate capital of […]

By Martha Porado |June 1, 2012

1 min read

Canadian ran U.S. Ponzi scheme, fined

A U.S. District Court in New Hampshire entered final judgments last week against New Futures Trading International Corporation, a New Hampshire business, and Henry Roche for running a Ponzi scheme.

By Staff |May 30, 2012

2 min read

Morning roundup: Recession risks rise; J.P. Morgan investigation

We’re committed to keeping you and your clients up-to-date with global industry news. Every morning, we offer articles from around the web. Here are some selections: – First the Facebookalypse, now Taxmaggeddon! The Congressional Budget Office issued a report saying proposed tax hikes to close revenue gaps could push the U.S. back into recession if […]

By Staff |May 23, 2012

1 min read

Former NAPFA chairman charged with securities fraud

Mark Spangler, former national chairman of the National Association of Personal Financial Advisors (NAPFA), once pushed financial professionals to act in the best interests of their clients. Now, however, he’s accused of securities fraud; he allegedly diverted $47 million of his clients’ funds into private ventures, and an FBI agent claims he made false statements […]

By Staff |May 18, 2012

3 min read