Tags: fund | manager | SEC | wrongdoing

New York Fund Manager Agrees to Pay $2.9 Million in SEC Case

Wednesday, 18 Sep 2013 11:54 AM

A New York hedge-fund manager agreed to pay more than $2.9 million to settle U.S. regulatory claims that he violated his fiduciary duty by engineering an undisclosed principal transaction in which he had a financial conflict of interest.

Shadron Stastney, a partner at investment advisory firm Vicis Capital LLC, was also barred from association with an investment company or broker-dealer for at least 18 months, the Securities and Exchange Commission said in a statement.

In settling the claims, Stastney didn’t admit or deny wrongdoing, the SEC said.

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A New York hedge-fund manager agreed to pay more than $2.9 million to settle U.S. regulatory claims that he violated his fiduciary duty by engineering an undisclosed principal transaction in which he had a financial conflict of interest.
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2013-54-18
Wednesday, 18 Sep 2013 11:54 AM
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