Investment adviser duo forced to pay $7m in SEC probe with six worldwide regulators

clock • 2 min read
Investment adviser duo forced to pay $7m in SEC probe with six worldwide regulators

The principal and trader of a Toronto-based global investment firm have been forced to make a $7m disgorgement payment after US regulator the Securities and Exchange Commission (SEC) charged them with "making erroneous order-marking information on hundreds of sale orders of their hedge fund client to the hedge fund's brokers, causing those brokers to mismark the hedge funds' sales as ‘long'". The SEC order on 17 August charging Murchinson Ltd principal, Marc Bistricer; and its trader, Paul...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login