The Law of the Financial Markets from Top Securities Lawyers
Thursday, September 21, 2023
The SEC has taken action against an ETF Manager, alleging misconduct in the management of an exchange-traded fund (ETF). This scheme involved misleading the ETF’s trustees and securing a whopping $20 million in rescue financing to avert potential bankruptcy. As a result, Masucci and his entities have agreed to a substantial settlement of $4.4 million.
Introduction On August 1, 2023, the Securities and Exchange Commission (SEC) brought charges against Samuel Masucci and entities under his control for allegedly disadvantaging an exchange-traded fund (ETF) they managed and misleading the ETF’s trustees to secure $20 million in rescue financing, thereby avoiding potential bankruptcy. As a result of […]
