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 […]
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 […]
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 […]
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 […]
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 […]