Prosecutors allege that Ficeto, Homm and the other co-conspirators “fraudulently manipulated the penny stocks to inflate and artificially prop up their prices to exaggerate the purported profitability of the Absolute Capital hedge funds.
The change, published in a regulatory notice, is the latest effort by a U.S. financial regulator to highlight cooperation programs, which they say are central to their enforcement efforts.
The Supreme Court accepted the case, Thole vs. U.S. Bank, after it was dismissed by a lower court and the 8th U.S. Circuit Court of Appeals in St. Louis.
Kelley Galica Peck, a partner in Stamford-based Cummings & Lockwood’s Private Clients Group, served as vice chair, Estates and Probate Section, of the Connecticut Bar Association and was instrumental in the drafting and proofing of the act.
The Brazilian company runs multiple insurance segments such as health and dental, auto, property and casualty, life and personal accident insurance.
According to the SEC’s order, from 2014 to early 2016, approximately 40 retail clients of Behn and Fieldstone invested more than $7 million in Aequitas securities, which were the subject of a previous Commission enforcement action.