The Securities and Exchange Commission has charged New York-based Battery Private, an investment firm, and its founder Jeffrey Slothower with misappropriating more than $1 million from a client and prospective client and defrauding investors in two separate schemes, as well as submitting false information on SEC filings.
The SEC's complaint alleges that in Slothower’s first alleged scheme, he misappropriated more than $1 million from an advisory client and her spouse, a prospective client. In the second, he allegedly made material misrepresentations in connection with private sales of a penny stock owned by Battery Private.
The SEC’s complaint further alleges that Slothower exaggerated the size of Battery Private's regulatory assets under management in SEC filings.
The complaint seeks disgorgement of ill-gotten gains with prejudgment interest, civil penalties and permanent injunctive relief, among other remedies.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
