The Securities and Exchange Commission on Thursday announced settled charges against investment adviser Everest Capital and its sole principal for risk management failures stemming from a bad currency bet it had made.
According to the SEC, Marko Dimitrijevic was Everest’s sole managing member, majority owner, chief investment officer, and the sole portfolio manager of its largest fund, the Everest Capital Global Fund. The SEC proceedings arose out of Everest’s and Dimitrijevic’s acts “inconsistent with disclosures regarding investment concentration and risk controls” pertained to their management of the Everest Capital Global Fund, according to the SEC’s order.
