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SEC Obtains Final Judgment Against Investment Advisers Charged with Defrauding Their Advisory Clients

On October 13, 2022, the Securities and Exchange Commission obtained a final judgment against defendants Cetera Advisors, LLC and Cetera Advisor Networks, LLC, whom the SEC previously charged with defrauding their advisory clients by failing to disclose several sources of compensation. According to the SEC’s amended complaint filed on October 11, 2019, in the United […]

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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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Wells Fargo Pulls Back From Mortgage Business

Wells Fargo could be looking at a major reduction in its once market-leading mortgage business, Bloomberg reported over the weekend. Wells Fargo shares edged lower Monday following a report from Bloomberg news that suggested the bank is preparing to significantly reduce its once-leading mortgage business. Bloomberg said the shift, which is expected to include big […]

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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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Tiger Global losses exceeded 50%

Tiger Global Management’s has incurred one of the largest-ever losses by a hedge fund in 2022.  2022 is getting worse with losses at the firm’s high-profile hedge fund ballooning to 52% through May. Tiger reported the drop, which extends a 44% loss recorded through April, in a note to its investors Thursday. The firm’s long-only […]

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