New York Times reports that hedge fund manager Garces Trading Company is being sued for allegedly violating federal securities laws
A New York-based hedge fund is being investigated for allegedly failing to disclose a $10 million investment in an insurance company.
The company, Garces, is part of the Equities Trading Company, which offers a wide variety of options trading services.
The company, which is owned by hedge fund owner George Garces Jr., has a portfolio that includes more than $5.7 billion in assets and includes some $5 billion in options trading options.
According to the suit filed Thursday in the U.S. District Court for the Southern District of New York, the company’s website states that it “is not a broker or dealer of any kind.”
But it did say it was one of the largest option trading companies in the country, and it did have a website that allowed people to place trades in the company, including through its mobile app.
On its website, Garce said it was “not affiliated with any individual nor affiliated with the Equity Trading Company.”
But the company said it does offer “a wide range of options options trading and trading strategies,” including “advanced” options trading.
It also has a site for people to “buy, sell, trade, and manage” its own options, but it also has “advances,” which are similar to “advancing” options, such as “buy” and “sell.”
“In order to avoid liability, the Equitas Trading Company will cooperate with the U,S.
Department of Justice’s (DOJ) Office of Inspector General, or OIG, in any investigation of the allegations, if warranted,” the suit states.
According to the lawsuit, the DOJ filed a complaint with the SEC on March 6, 2017, saying that Garces’ “systems and procedures did not disclose that it was engaging in a violation of securities laws” by selling “advancers” or “advancer-like” options.
The suit also said that Garce did not tell its customers it was selling “advance” options when it did so.
“The Equitas trading company’s ‘advances’ are a separate offering from its advanced options trading,” the complaint states.
Garces also does not disclose to its customers how much it has made on its advanced trading platform, and if it makes a profit on its trades.
The lawsuit alleges that Garves “did not disclose the fact that its advanced option trading software was not a ‘real-time’ trading system” and that its “advices” for buying and selling advanced options were “false and misleading.”
In a statement to the New York Post, the Securities and Exchange Commission said it is looking into the suit.
“We are aware of the complaint and have received the complaint.
If the SEC believes the allegations are valid, it will take appropriate action,” the SEC said in a statement.
The SEC said it has a staff that investigates and prosecutes insider trading cases and that it will “investigate the allegations and take appropriate enforcement action as warranted.”