Delta Global Misled Investors, Inflated Assets: SEC

Law360, New York (April 7, 2011, 8:35 PM EDT) -- The U.S. Securities and Exchange Commission announced Thursday it had initiated administrative proceedings against Los Angeles-based investment advisory firm Delta Global Advisors Inc. for misleading its clients.

The SEC's order instituting administrative proceedings alleges that Delta Global and its president, Charles P. Hanlon, inflated the company's assets, made false statements and failed to disclose material information to clients.

Delta Global and Hanlon claimed Delta managed more than $1 billion in assets, a figure that vastly exceeded its actual assets under management, according to the SEC....
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