January 26, 2017 BY Valentina Kirilova

SEC uncovers cherry-picking scheme, charges investment adviser behind it

The Securities and Exchange Commission (SEC) announced that a Massachusetts-based investment adviser agreed to be banned from the securities industry after the agency uncovered an illegal cherry-picking scheme through its data analysis used to detect suspicious trading patterns. The SEC filed fraud charges in federal district court against Michael J. Breton and his firm Strategic…

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