Articles Posted in Investment Advisor

In the Matter of Rick Cho On October 15, 2012, the Securities and Exchange Commission (Commission) issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings and Imposing Remedial Sanctions (Order) against Rick Cho. The Order found that Cho was the managing member, president, and chief…

Securities and Exchange Commission v. GEI Financial Services, Inc., Norman Goldstein, and Laurie Gatherum, Civil Action No. 12-7927 (N.D. IL, filed October 3, 2012) SEC CHARGES CHICAGO-BASED INVESTMENT ADVISER AND ITS OWNERS FOR FRAUD The Securities and Exchange Commission recently charged Chicago-based GEI Financial Services, Inc. (GEI Financial), a registered investment adviser, and its owners,…

SEC Charges Oregon-Based Investment Adviser for Failing to Disclose Revenue Sharing Payments September, 2012: The Securities and Exchange Commission recently instituted a settled administrative proceeding against two Portland, Oregon-based investment advisory firms and their owner regarding the failure to disclose a revenue-sharing agreement and other potential conflicts of interest to clients. The SEC’s investigation found…

Litigation Release No. 22460 / August 27, 2012 Securities and Exchange Commission v. Gary R. Marks, CV-12-4486-JSC (N.D. Cal., filed August 27, 2012). August, 2012: SEC Charges Former Sky Bell Hedge Fund Manager With Making Misrepresentations In Selling And Recommending His Hedge Funds Recently, the Securities and Exchange Commission filed a settled civil action in…

Financial Planner: A financial planner is a professional who compiles and analyzes personal financial data and prepares a a proposed program to meet the financial needs and objectives of his client. The purpose of this post is to provide the reader with a general description of the type of individuals that may provide financial planning…

July, 2012: Securities and Exchange Commission v. Aubrey Lee Price, et al. Case No. 1:12-CV-2296 (N.D. Ga. July 2, 2012) SEC FREEZES ASSETS OF MISSING GEORGIA-BASED INVESTMENT ADVISER The Securities and Exchange Commission announced recently that it has obtained a court order freezing the assets of a Georgia-based investment adviser who has apparently gone into…

Securities and Exchange Commission v. AMMB Consultant Sendirian Berhad, Case no. 1:12-cv-01052 (U.S. District Court for the District of Columbia, filed June 26, 2012) June, 2012: SEC SUES FUND ADVISER FOR FEES CHARGED IN BREACH OF DUTY UNDER THE INVESTMENT COMPANY ACT The Securities and Exchange Commission recently sued AMMB Consultant Sendirian Berhad (AMC), a…

Investment Advisor and Broker Dealer Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. June, 2012: SEC Charges Massachusetts Investment Adviser With Fraud and Obtains Preliminary Injunction and Asset Freeze The Securities and Exchange Commission recently announced that it has charged Gary J. Martel of Chelsea, Massachusetts with defrauding investors. The Commission’s…

Investment Advisor and Broker/Dealer Investment Fraud and Mismanagement Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 2012: The Securities and Exchange Commission recently charged a Miami-based hedge fund adviser for deceiving investors about whether its executives had personally invested in a Latin America-focused hedge fund. The SEC’s investigation found that Quantek Asset Management…

Investment Adviser and Broker/Dealer Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 2012: SEC v. Jorge Gomez and Roberto Aleph Espinosa (United States District Court for the Southern District of Florida, Civil Action No. 1:12-CV-21962 SEC CHARGES TWO INVESTMENT ADVISERS WITH FRAUD The Securities and Exchange Commission recently charged Jorge…