Wednesday, 20 August 2014
Last updated 52 min ago
Dec 17 2007 | 3:30pm ET
The Securities and Exchange Commission has slapped a pair of financial advisers for deceptive mutual fund trading on behalf of hedge fund clients.
The regulator sued former Morgan Stanley advisers Darryl Goldstein and Christopher O’Donnell—both of whom still work in the financial industry—with making more than 4,000 market-timing trades with a total trading volume in excess of $4.8 billion, all for a pair of hedge funds.
The complaint says the pair used deceptive techniques between January 2002 and August 2003 to skirt the mutual funds’ market-timing restrictions.
The action was filed Friday in Manhattan federal court.
Goldstein now works at Gilford Securities, while O’Donnell is at Bear Stearns.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note