Thursday, 24 July 2014
Last updated 5 hours ago
Oct 4 2012 | 11:28am ET
The Securities and Exchange Commission has sued a husband-and-wife team, accusing them of ripping off investors in their hedge fund.
Norman Goldstein and the appropriately-named Laurie Gatherum took at least $147,000 more than they were entitled to through excessive fees and capital withdrawals. While the Chicago couple's GEI Financial Services returned $3.6 million to investors after losing their state license last year due to a number of violations, they still owe the rest, the SEC said.
"For years, the defendants have demonstrated a complete disregard toward the securities laws, their clients and the state of Illinois," the regulator said in its complaint. "They long ago abandoned their fiduciary responsibilities towards their clients."
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…