SEC Cites Utahn for Ponzi Scheme
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By Steven Oberbeck, The Salt Lake Tribune  May 25--A Utah man who the federal government and courts contend operated  an illegal Ponzi scheme that cost investors more than $13 million has been  ordered to surrender his gains.   Patrick M.
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UBS Securities, the investment-banking division of the Swiss-based UBS, was accused by Massachusetts regulators of dishonest and unethical practices in dealings with hedge-fund advisers. The subsidiary, based in Stamford, Conn., gave hedge-fund managers below-market rent, low-interest personal loans and other benefits to retain and increase business, according to a complaint from the office of William Galvin, the secretary of the commonwealth and its top securities regulator. The complaint also accuses UBS of failing to supervise gifts and gratuities. The action, filed with the stateâs Securities Division, seeks a cease-and-desist order, a censure and an undisclosed administrative fine, the statement said. Doug Morris, a UBS spokesman in New York, declined to comment.
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Federal securities regulators will throw their weight behind investors in a big-money dispute that could resolve whether shareholders can sue bankers who enabled their corporate clients to engage in fraud, two people familiar with the decision said yesterday.
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THREE senior officials running one of Americaâs junior stockmarkets could face civil charges relating to its options market, following a probe by US watchdog the Securities and Exchange Commission.
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The former N.Y.S.E. trader, Donald R. Foley II, who worked at Fleet Specialists, faced two counts of securities fraud.
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The U.S. Securities and Exchange  Commission has asked Morgan Stanley  Chief Executive John  Mack to testify regarding what role he may have played in an  insider trading case involving hedge fund Pequot Capital,  Morgan Stanley said on Friday.
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The US Securities and Exchange Commission on Thursday charged brokerage firm Raymond James Financial Inc. (RJF.N: Quote, Profile, Research) with fraud over the misconduct of a former broker in 1999 and 2000.
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Black was charged with fraud yesterday by the US Securities and Exchange Commission (SEC), accusing him of using the company as, what they termed, his personal piggy bank.
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Norman Hsu, the Democratic fund-raiser who was a fugitive from the law, was charged today with bilking investors of at least $60 million in a nationwide Ponzi scheme.
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Dow Jones & Co. Inc.  board member David Li, a prominent Hong Kong banker, may face civil charges in a U.S. Securities and Exchange Commission insider trading investigation linked to News Corp.'s  $5 billion bid for the U.S. media company.
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By Ian Katz, South Florida Sun-Sentinel  Feb. 19--The buzz on Internet message boards started with a simple filing to the Securities and Exchange Commission.
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The Securities and Exchange Commission said Thursday it filed settled fraud charges against San Francisco-based Van Wagoner Capital Management Inc.
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By John Stark, The Bellingham Herald, Wash.  Feb. 3--BELLINGHAM -- A Utah firm whose business practices have faced  legal challenges from regulators in several states is sponsoring an Internet  marketing conference Thursday and Friday in Bellingham.
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The Securities and Exchange Commission is preparing enforcement actions against three US stock exchanges -- and possibly the head of one of them -- over charges that in-house regulators failed to adequately enforce their own rules
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WASHINGTONâThe US Securities and Exchange Commission yesterday charged brokerage firm Raymond James Financial Inc. with fraud over the misconduct of a former broker in 1999 and 2000.
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State regulators filed an administrative complaint against a Scituate man who is accused of selling securities without being registered. Massachusetts Secretary of State William F. Galvin's office said Thomas John McKenna, 52, operated as an unregistered broker-dealer, soliciting investors for companies he represented through his own firm, Sales Fusion Inc., of Norwell.
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The U.S. Securities and Exchange  Commission is investigating Dow Jones & Co. Inc.  board  member David Li over an insider trading case linked to News  Corp.&#39;s (NWSa.N) bid for the Wall Street Journal publisher, Dow  Jones reported on Wednesday.