By Adrianne Appel2024-05-29T19:01:00
Mass Ave Global (MassAve) agreed to pay $350,000 for alleged failures that led the investment adviser to make false and misleading statements to investors, according to the Securities and Exchange Commission (SEC).
Winston Feng, the co-founder and chief executive officer at MassAve, agreed to pay $250,000 and be suspended for 12 months from investment work, the SEC announced in a press release Wednesday.
New York City-based MassAve, which had about $1.1 billion in regulatory assets under management until it began winding down operations in early 2023, violated the antifraud and compliance provisions of the Investment Advisers Act, the SEC alleged in its order.
2024-05-24T16:27:00Z By Jeff Dale
Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting because of training shortfalls.
2024-05-08T16:57:00Z By Kyle Brasseur
A Securities and Exchange Commission action against former registered investment adviser Gainvest Legal Corp. yielded a notable takeaway for others in the industry engaging consultants for compliance program support.
2021-12-29T17:15:00Z By Aaron Nicodemus
The SEC charged New York City taxi medallion loan company Medallion Financial with participating in two illegal schemes to pump up the declining value of its stock. Also charged was California-based media strategy company Ichabod’s Cranium.
2025-07-31T18:47:00Z By Adrianne Appel
More than 50 people and 50 ships connected to a top Iranian official were added to the U.S. Treasury’s sanctions list on Wednesday, according to the Office of Foreign Assets Control.
2025-07-31T16:44:00Z By Adrianne Appel
Kentucky took aim at Chinese company Temu, alleging in a lawsuit that it counterfeited popular Kentucky-designed merchandise and violated customers’ privacy.
2025-07-30T17:56:00Z By Aly McDevitt
The Department of Labor is using poultry processing company Mar-Jac Poultry as an example of what will happen when companies repeatedly employ underage workers in hazardous conditions. Hint: Companies can’t pin the blame on staffing agencies.
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