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Firm Let Advisers Toy With Funds, Mass. Watchdog Says

Law360, Boston (May 15, 2018, 3:59 PM EDT) -- The state securities watchdog in Massachusetts has charged Spartan Capital Securities LLC and its co-founder with recklessly trading a Bay Stater's retirement funds then subpoenaing him, in violation of an administrative officer's wishes, counsel to the regulator said during a hearing on Tuesday in support of sanctions.

Presiding Officer Diane Young-Spitzer expressed dismay that Ronak Patel of Winstead PC, counsel to the investment firm, found and employed an alternative legal avenue after she flatly denied his request to question the investor at the center of the...
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