Investment adviser to sanctioned Russian billionaire charged for failure to register

Mark Battersby
clock • 2 min read

The US Securities and Exchange Commission has charged Concord Management of Tarrytown, New York, and its owner and principal, Michael Matlin, for operating as unregistered investment advisers to their only client—a wealthy former Russian official widely regarded as having political connections to the Russian Federation. Concord's sole client, according to multiple reports, is sanctioned Russian billionaire Roman Abramovich. According to the SEC's complaint, Matlin founded Concord in 1999 to provide investment advice for compensation and to supervise and manage the client's investments...

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