SEC Compensates Hedge Fund’s Late-Trading Victims

Mar 22 2007 | 11:48am ET

The Securities and Exchange Commission has distributed the $38 million it collected from a Texas hedge fund accused of illegally market-timing and late-trading mutual funds.

Approximately 810 mutual funds that the SEC says were victims of Veras Investment Partner’s scheme received a share of the Fair Funds, which represents all of the money in disgorgement and civil penalties paid by Sugar Land-based Veras and its managing members, Kevin Larson and James McBride.

Veras and its principals settled the SEC’s charges in December 2005, without admitting or denying the accusations. In its settlement order, the agency said that Veras had for almost two years used deceptive tactics to continue market-timing after it had been caught by mutual funds, in addition to its late-trading activity.


In Depth

Hedge Fund Veteran Peter Borish Talks Trading

Dec 17 2014 | 9:32am ET

Peter Borish says 2014 was “tricky” from a trading perspective. “The best...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.