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.
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Related Attorneys: James J. Eccleston
Tags: eccleston, eccleston law, sec, e*hedge securities, covid-19, devon parks