Tag: The Securities and Exchange Commission (SEC)

August 24, 2016 BY Valentina Kirilova

SEC charges Apollo Global Management with disclosure and supervisory failures

The Securities and Exchange Commission (SEC) has announced that four private equity fund advisers affiliated with Apollo Global Management have agreed to a $52.7 million settlement for misleading fund investors about fees and a loan agreement and failing to supervise a senior partner who charged personal expenses to the funds. An SEC investigation found that the Apollo…

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August 17, 2016 BY Valentina Kirilova

SEC fines Health Net Inc. for severance agreements that removed financial incentives for whistleblowing

The Securities and Exchange Commission (SEC) has announced that a California-based health insurance provider has agreed to pay a $340,000 penalty for illegally using severance agreements requiring outgoing employees to waive their ability to obtain monetary awards from the SEC’s whistleblower program. According to the SEC’s order, Health Net Inc. violated federal securities laws by taking away…

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August 16, 2016 BY Valentina Kirilova

SEC: Hedge fund manager charged in scheme involving terminally ill

The Securities and Exchange Commission (SEC) has announced fraud charges against a hedge fund manager and his firm accused of paying terminally ill individuals to use their names on purportedly joint brokerage accounts so he could purchase investments on behalf of his hedge fund and redeem them early by invoking a survivor’s option. An SEC examination of…

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