SEC Files Suit Against E*Hedge Securities

Posted on June 4th, 2020 at 4:04 PM
SEC Files Suit Against E*Hedge Securities

From the Desk of Jim Eccleston at Eccleston Law LLC:

E*Hedge Securities and its CEO Devon W. Parks have been charged by the U.S. Securities and Exchange Commission (“SEC”) for failing to provide the firm’s books and records to the SEC in connection with an SEC examination. Additionally, the SEC alleged that E*Hedge is not properly registered to be an internet investment adviser. 

The SEC alleged that E*Hedge blamed the COVID 19 pandemic for its inability to respond to the SEC requests.  However, according to the SEC, E*Hedge was able to publish multiple blog posts and host a free webinar during this same time period. The SEC examination was initiated shortly after E*Hedge registered a website, Covid19Invest.com, which discusses COVID 19 related investments. 

This is not the first time that the SEC has had a problem with obtaining documents from E*Hedge.  In the fall of 2017, the SEC attempted to conduct an examination of E*Hedge shortly after the firm submitted its application to register as an investment adviser. According to the SEC, it never received any response from E*Hedge.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: eccleston, eccleston law, sec, e*hedge securities, covid-19, devon parks

Return to Archive

TESTIMONIALS

Previous
Next

You were most helpful with my FINRA deposition. You are a good lawyer and a good person.

Dan B.

LATEST NEWS AND ARTICLES

April 24, 2024
RIA Insurance Claims Skyrocket

A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.

April 23, 2024
Surge Predicted in Regulation Best Interest Cases

According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.

April 22, 2024
FINRA Fines Independent Broker-Dealers Over Cybersecurity Lapses

The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.