SEC Seeks Fines In Hedge Fund Kickback Case

Law360, New York (July 8, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission is seeking $25,000 penalties against three companies and a stock promoter and a lifetime ban from involvement with penny stocks on a second stock promoter, all of whom signed consent decrees settling claims related to a hedge fund kickback scheme.

According to a motion filed in the U.S. District Court for the Southern District of Florida, Western Financial Services Inc. has not objected to the proposed $25,000 penalty, while defendants Affinity Financial Group Inc., Real Asset Management LLC and Vincent...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.