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Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it during a restricted period. Yesterday, the Commission announced it had sanctioned 19 more firms and one individual trader.
The firms and the trader have agreed to settle the SEC’s charges and pay a combined total of more than $9 million in disgorgement, interest, and penalties.
The firms are Advent capital Management (New York), Antipodean Advisors (New York), BlackRock Institutional Trust Company (California), East Side Holdings II (New Jersey), Explorador Capital Management (Brazil), Formula Growth (Canada), Great Point Partners (Connecticut), Indaba Capital Management (California), Ironman Capital Management (Texas), Midwood Capital Management (Massachusetts), Nob Hill Capital Management (California), which attested to a financial condition that makes it unable to pay any penalty, RA Capital Management (Massachusetts), Rockwood Investment Management / Rockwood Partners (Connecticut), Seawolf Capital (New York), Solus Alternative Asset Management (New York), SuttonBrook Capital Management (New York), Troubh Partners (New York), Vinci Partners Investimentos (Brazil), Whitebox Advisors (Minnesota). The trader is James C. Parsons (New York).
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