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USO – SEC Charges Exchange-Traded Product and Its General Partner With Disclosure Failures

The Securities and Exchange Commission today charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission merchant and broker. USO and USCF have agreed to pay $2.5 million in penalties to settle parallel cases by […]

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SPAC losses on the rise according to the WSJ

SPAC deals are swiftly falling from grace as $75 billion of value has evaporated in just six months, according to a Wall Street Journal report. The collective value of 137 deals that closed by mid-February has plunged 25% since the start of the year, totaling $75 billion in lost value, according to the Journal, citing a […]

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Infinity Q Investor Losses Mount

New York investment firm Infinity Q Capital Management LLC is liquidating its hedge fund as the fallout from a U.S. regulatory probe into its valuation practices In January, Infinity Q reported that it managed over $3 billion in assets. It was forced to liquidate its mutual funds after the SEC found that chief investment officer […]

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SEC Obtains Emergency Relief, Charges Two Florida Companies and Their Principal Officer with Operating a Ponzi Scheme

The Securities and Exchange Commission announced that it filed an emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop an alleged Ponzi scheme and misappropriation of investor proceeds perpetrated by Coral Springs, Florida resident Johanna M. Garcia and two entities she controls. According to the […]

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Court Enters Judgments Against Investment Adviser Firm and Owner for Undisclosed Compensation Practices

On July 6, 2021, a federal district court in Connecticut entered final judgments against investment adviser Westport Capital Markets, LLC and its sole owner, Christopher E. McClure. The judgments order that Westport Capital and McClure are jointly and severally liable for disgorgement of $632,954, along with $187,807 in prejudgment interest, for a total disgorgement and […]

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