The US Securities and Exchange Commission (SEC) has sharpened its focus on “cherry-picking,” a practice in which investment advisers allocate profitable trades to favored accounts – sometimes their own – while assigning less...more
Two weeks ago, this Blog wrote about an enforcement action involving an investment adviser’s former co-chief investment officer who had been charged with running a more than $600 million cherry-picking scheme (here). Today,...more
The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more
Recently the CME settled disciplinary matters (and the CFTC simultaneously settled a separate enforcement proceeding) with a trader and the introducing broker of which the trader was a principal, involving allegations of...more
On September 13, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced a settlement with investment advisory firm Buckman Advisory Group LLC (“Buckman Advisory”) and its CEO Harry Buckman Jr. to settle...more
In the last three weeks, the Division of Enforcement of the U.S. Securities and Exchange Commission has filed several complaints and resolved a number of open enforcement actions involving investment advisers. At first...more
The Commission prevailed at trial in a market manipulation case. The trial followed a series of settlements and a grant of summary judgment in the Commission’s favor as to one defendant. The remaining defendant, a former NFL...more
The Commission has increasingly focused on data analysis as an aid to its enforcement program. Two recent cases brought against investment advisers for cherry picking illustrate different facets of the approach....more
The Securities and Exchange Commission (the “SEC”) recently announced its enforcement results for fiscal year 2015. The release touted high-impact and first-of their-kind actions, as well as an increase in the number and...more