SEC Charges Connecticut Advisory Firm GlennCap and its Owner with Cherry-Picking
The probability that the favored accounts received the more profitable trades by chance was statistically nearly zero.
- The probability that the favored accounts received the more profitable trades by chance was statistically nearly zero.
- The SEC’s order finds that Glenn and GlennCap received at least $2.7 million in profits from the cherry-picking scheme.
- “The SEC has the means to identify investment advisers that abuse their position through cherry-picking, as Glenn and GlennCap did.
- The SEC appreciates the assistance of the Securities and Business Investments Division of the Connecticut Department of Banking.