Asset Management Unit

• 

  What I Learned at Our Compliance Conference, Pt. 2: What SEC Examiners Are Pursuing

  By David Tittsworth, IAA  |  March 18, 2013

  What are the SEC's priorities in examining investment advisors? A look at OCIE's priorities, and at what may be the most underreported development in advisor exams.

• 

  SEC Targeting 4 Hedge Fund Developments in 2013

  By Melanie Waddell, AdvisorOne  |  December 18, 2012

  Bruce Karpati, head of the SEC’s Asset Management Unit, housed within the agency’s Enforcement Division, told compliance officers that overseeing hedge funds’ compliance will continue to be a priority for the agency next year.

• 

  Vow to Fight SEC Charges From Ex-Morgan Keegan Fund Directors

  By Melanie Waddell, AdvisorOne  |  December 12, 2012

  Eight former independent directors, who were charged by the SEC with overstating the value of their securities as the housing market was collapsing in 2007, say they will “vigorously” contest the charges.

• 

  SEC, FINRA Enforcement Roundup: Fund Execs First to Face Charges of Overvaluing Assets

  By Marlene Y. Satter, AdvisorOne  |  November 29, 2012

  Three top executives of KCAP Financial Inc., a New York-based publicly traded fund being regulated as a business development company, have been charged by the SEC with overstating the fund’s assets during the financial crisis. a complaint against the president and owner of a Polish-born brokerage firm for targeting the Polish...

• 

  The Case of the Aspirational AUM: SEC Says RIA Inflated AUM Tenfold

  By Melanie Waddell, AdvisorOne  |  November 20, 2012

  A New York-based firm inflated its AUM to qualify for SEC registration—literally moving decimals on a spreadsheet—while a San Francisco-based firm dithered for 18 months in delivering mutual fund records to the SEC.

• 

  SEC, FINRA Enforcement Roundup: Former Billion-Dollar Hedge Fund Advisory Firm, Execs Slapped

  By Marlene Y. Satter, AdvisorOne  |  October 19, 2012

  Citigroup, Merrill Lynch and Natixis were among those sanctioned by the SEC and FINRA this week.

• 

  Hedge Fund Managers Charged With Ripping Off Investors, Including a Retired Teacher

  By Melanie Waddell, AdvisorOne  |  October 3, 2012

  The SEC charged one manager with stealing more than $500,000 from a retired schoolteacher who thought she was investing her retirement savings in a hedge fund.

• 

  NASCAR-Related Index Fund Shut Down After SEC Scrutiny

  By Melanie Waddell, AdvisorOne  |  August 10, 2012

  The SEC's Asset Management Unit charged David Dube and his firm, Peak Wealth Opportunities, on Friday with failing to provide examiners with records of a mutual fund advisory business that invested in NASCAR-related stocks.

• 

  SEC Charges Falcone, Harbinger Capital With Fraud

  By John Sullivan, AdvisorOne  |  June 27, 2012

  The charges "read like the final exam in a graduate school course in how to operate a hedge fund unlawfully," the agency says.

• 

  Exclusive: Biggest SEC Enforcement Effort Is Advisor Misconduct

  By Melanie Waddell, AdvisorOne  |  June 5, 2012

  In exclusive interview, former SEC enforcement official Kaplan says agency had doubled actions against advisors to investment vehicles, especially private funds, with more scrutiny to come.