FINRA Bans Firm, CEO Over Cancer Drug Kickback Scheme
Law360, New York (October 7, 2015, 1:16 PM EDT) -- The Financial Industry Regulatory Authority said Wednesday that it ousted New York-based Halcyon Cabot Partners Ltd. and two of its executives from the securities industry over allegations of widespread fraud, kickbacks and other violations, including a scheme involving a cancer drug development company.
The settlement alleges that Michael Morris, chief executive officer, and Ronald Heineman, chief compliance officer, engaged in a variety of illegal schemes in violation of securities laws, including concealing private placement fee kickbacks, serving as a false agent for an expelled broker-dealer and cooking their books to hide excessive trading.
“All of these violations were enabled by the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!