Firm, two execs fined, including ex-CCO, for misappropriating $220K, SEC alleges
By 
Adrianne Appel2025-03-12T16:01:00
Two executives at New York-based Momentum Advisors, including the firm’s chief compliance officer, allegedly misappropriated more than $220,000, the Securities and Exchange Commission (SEC) said.
Investment firms handle large amounts of money from members of the public, and as such, they are obligated by SEC and other rules to safeguard those funds and to closely oversee and report transactions.
Related articles
-
News BriefCCO who was ‘sole person controlling’ investment firm charged with recidivist concentration violations
An investment company and its founder, president, and chief compliance officer flagrantly kept violating mutual fund rules for multiple years after settling with the Securities and Exchange Commission, the SEC said in a complaint against the company.
-
News BriefSEC fines Cantor Fitzgerald $6.75M for failing to disclose pre-IPO talks
Financial services firm Cantor Fitzgerald will pay a $6.75 million fine to the Securities and Exchange Commission for making misleading statements regarding two special purpose acquisition companies that it controlled.
-
News BriefRio Tinto to pay $28M in SEC fraud case
Rio Tinto consented to pay a $28 million fine to resolve charges levied by the Securities and Exchange Commission alleging the mining company and its executives committed fraud by inflating the value of coal assets.
More from Regulatory Enforcement
-
ArticleEU targets crypto, fintech firms in push to tackle money laundering
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
-
ArticleCalifornia, Colorado, and Connecticut launch joint crackdown on privacy violators
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
-
News BriefFreight forwarder fined $1.6M after using OFAC-blocked Venezuelan, Iranian carriers
A Houston-based freight forwarder, Fracht FWO Inc., will pay $1.6 million for violating U.S. sanctions tied to Venezuela and Iran, according to the Treasury Department’s Office of Foreign Assets Control (OFAC). The fine comes as OFAC ramps up enforcement in recent months.