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

Mark Battersby
clock • 2 min read

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 Zogala, found that in providing the inaccurate information, the respondents also caused the hedge f...

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Mark Battersby
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Mark Battersby

Editor at International Investment