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Markets await Fed meeting minutes

U.S. Treasury yields rose Wednesday on weaker demand for fixed income assets as investors awaited the release of the Federal Reserve’s minutes from its July meeting. Investors will be watching for the Fed’s Open Market Committee’s meeting minutes from July 26 and 27, when it decided to raise the target range for the federal funds […]

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SEC Charges Promoters of Desilu Studios Offering Fraud

The Securities and Exchange Commission today announced that it has filed an injunctive action against Manhattan Beach, California-based Desilu Studios, Inc. and its founder, Charles B. Hensley, from Torrance, California for an alleged offering fraud that raised at least $596,360 from investors. The SEC’s complaint alleges that from June 2017 through at least July 2018, Desilu […]

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UBS to Pay $25 Million to Settle SEC Fraud Charges Involving Complex Options Trading Strategy

The Securities and Exchange Commission today announced that UBS Financial Services Inc. has agreed to pay approximately $25 million to settle fraud charges relating to a complex investment strategy referred to as YES, or Yield Enhancement Strategy. According to the SEC’s order, UBS marketed and sold YES to approximately 600 investors through its platform of […]

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SEC Charges New York-Based Investment Adviser and Its CEO and Former Chief Compliance Officer with Securities Violations

The Securities and Exchange Commission today announced charges against registered investment adviser A.G. Morgan Financial Advisors, LLC (“AGM”) of Massapequa, New York, AGM’s owner Vincent J. Camarda, and AGM’s former Chief Compliance Officer James McArthur, for unlawfully offering and selling securities in connection with a more than $500 million unregistered fraudulent offering with lending company […]

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Melvin Capital to shut after heavy losses on meme stocks

Melvin Capital, once one of Wall Street’s most successful hedge funds which then lost billions in the meme stock saga, will shut down after it was hit again by this year’s market slump. Melvin Capital had $7.8 billion in assets at the end of April. The fund lost 23% in the first four months of […]

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