Navigate Broker Status After SEC Settlement With Advisor

By Ignacio Sandoval and Steven Stone (September 16, 2021, 4:22 p.m. EDT) – On August 17, the United States Securities and Exchange Commission announced an enforcement action settled against Murchinson Ltd., a Canadian investment adviser to ‘a hedge fund; Marc J. Bistricer, the person controlling Murchinson; and Paul E. Zogala, a trader at Murchinson responsible for securities trading for the hedge fund.

The SEC alleged that they tricked the executing brokers of a hedge fund into violating the order tagging and locating requirements of the SHO Regulation, and that the hedge fund acted as an unregistered broker in violation of the law. Section 15 (a) (1) of the Securities Act. Trade Law.[1]

This latter finding appears to be a significant departure from the SEC statements …

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Shawn Beecher

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