Hedge fund companies
The SEC said that the companies earned profits of $3.3 million on $143 million in rapid mutual fund trades between 2001 and 2003 and that to shield its activity, the company created eight subsidiaries to carry out these trades, used broker/dealers with multiple registered representative numbers and also placed trades through variable annuities.
Haidar placed these trades with
“We believe this settlement is in the best interests of our investors and our companies,” Shawn Pattison, a Haidar spokesman, told Reuters.“We note that the settlement places no restrictions on our business, and, as always, we remain focused on generating superior returns for our shareholders.”