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ETF Managers Group CEO Samuel Masucci Steps Down Amid SEC Probe And Alleged Conflicts Of Interest

ETF Managers Group CEO Samuel Masucci Steps Down Amid SEC Probe And Alleged Conflicts Of Interest

ETF经理集团首席执行官塞缪尔·马苏奇因美国证券交易委员会的调查和涉嫌利益冲突而辞职
Benzinga ·  2023/07/18 15:26

ETF Managers Group founder and CEO Samuel Masucci resigned from his role as chief executive and other related positions as part of a settlement with the Securities and Exchange Commission (SEC), which notified him of its decision to bring a civil action stemming from a probe into the company's cannabis exchange-traded fund.

ETF 经理集团创始人兼首席执行官 塞缪尔·马苏奇 作为与美国证券交易委员会(SEC)达成的和解协议的一部分,辞去了首席执行官和其他相关职务的职务。美国证券交易委员会(SEC)通知他,由于对该公司的大麻交易所交易基金的调查,该委员会决定提起民事诉讼。

The move comes weeks after ETFMG announced it was selling its ETF lineup to Amplify ETFs (NYSE:SWAN) in a deal expected to close this year. The firm also recently announced two ETF closures, reported several sources.

此举是在ETFMG宣布将其ETF阵容出售给Amplify ETF(纽约证券交易所代码:SWAN)几周后采取的,该交易预计将于今年完成。多位消息人士称,该公司最近还宣布关闭两只ETF。

The settlement involves "alleged non-disclosure of conflicts of interest" connected to the participation of ETFMG Alternative Harvest ETF's (NYSE:MJ), the first cannabis exchange-traded fund in the U.S., in the securities lending program administered by its prior custodian, according to a recent filing with the SEC.

根据最近向美国证券交易委员会提交的一份文件,该和解涉及 “涉嫌不披露与美国第一家大麻交易所交易基金ETFMG Alternative Harvest ETF(纽约证券交易所代码:MJ)参与其前任托管人管理的证券贷款计划有关的利益冲突”。

Wells Notice

富国公告

Masucci and the firm apparently received Wells notices advising them the SEC staff anticipated the civil action, which noted that Masucci and the company cooperated with the investigation.

Masucci和该公司显然收到了富国银行的通知,告知他们美国证券交易委员会的工作人员预计会有民事诉讼,其中指出,Masucci和该公司配合了调查。

During the process, each recipient demonstrated to the SEC staff why it thought its conduct was appropriate and in keeping with industry standards, and therefore no action should be taken.

在此过程中,每位获奖者都向美国证券交易委员会的工作人员展示了为什么它认为自己的行为是适当的,符合行业标准,因此不应采取任何行动。

"The SEC has a wide range of tools in its arsenal, and typically insisting upon the resignation of an individual is one that they would use where they believe that an individual is at the crux of the wrongdoing," said Brian Hamburger, a lawyer who focuses on regulatory compliance at Hamburger Law. "If that's a component of those undertakings, then that is certainly indicative of SEC sentiment."

他说:“美国证券交易委员会的武器库中有各种各样的工具,当他们认为个人是不法行为的症结时,他们通常会使用坚持要求个人辞职的工具。” 布莱恩汉堡,汉堡律师事务所专注于监管合规的律师。“如果这是这些承诺的一部分,那无疑表明了美国证券交易委员会的情绪。”

Masucci, who also resigned as president and secretary of the trust, board chairman and portfolio manager to more than a dozen ETFs, agreed to resign as CEO and as trustee of ETF Managers Trust as part of the agreement. He and the firm consented to SEC staff findings without admitting or denying them, according to the filing.

作为协议的一部分,马苏奇还辞去了信托基金总裁兼秘书、董事会主席和投资组合经理的职务,他同意辞去ETF Managers Trust首席执行官和受托人的职务。文件显示,他和该公司同意了美国证券交易委员会工作人员的调查结果,但没有承认或否认这些调查结果。

Masucci was at the center of an earlier ETF industry controversy in 2019 when his firm was ordered to pay $80 million to NASDAQ for breach of contract, settling a dispute over the ETFMG Prime Cyber Security ETF (HACK) and four other ETFs with combined assets of $2.1 billion, per Yahoo Finance.

2019年,马苏奇是早些时候ETF行业争议的焦点,当时他的公司因违反合同被勒令向纳斯达克支付8000万美元,解决了关于该ETF行业争议的争议 ETFMG Prime 网络安全 ETF (HACK) 根据雅虎财经的数据,还有另外四只交易所买卖基金,总资产为21亿美元。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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