The Securities and Exchange Commission has taken action against a pair of hedge funds, accusing them of, among other improprieties, hiding copious conflicts of interests from clients both potential and actual, finalternatives reports.
The two lawsuits, filed last month, are the product of the aberrational performance inquiry, in which the SEC uses proprietary risk analytics to evaluate hedge fund returns. In addition to announcing the cases against LeadDog Capital Markets, Solaris Management and their principals, the SEC also trumpeted two other civil actions, one previously announced, against a former Millennium Global Investments manager and his broker, and against ThinkStrategy Capital Management and founder Chetan Kapur.
"We're using risk analytics and unconventional methods to help achieve the holy grail of securities law enforcement—early detection and prevention," SEC enforcement chief Robert Khuzami said. "This approach, especially in the absence of a tip or complaint, minimizes both the number of victims and the amount of loss while increasing the chance of recovering funds and charging the perpetrators….”
Yeah, but…..
http://www.finalternatives.com/node/18902
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