SEC's F-Squared Trial Win Offers A Cautionary Tale

By Ian Roffman (December 20, 2017, 2:38 PM EST) -- This month, after more than three years of litigation and a four-week jury trial, a federal court sitting in Boston is expected to enter final judgment for the U.S. Securities and Exchange Commission in its high-profile case against F-Squared Investments' founder Howard Present. F-Squared was once a high flyer in the fast growing exchange-traded fund world. Formed in 2008, as a financial services startup in the midst of a turbulent period for the stock market, F-Squared pointed to an impressive track record for the ETF trading model that it had acquired from another adviser. F-Squared advertised a history of performance that attracted billions of investment dollars and used that model to create a unique ETF index. In six short years, F-Squared became one of the toasts of Wall Street....

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