The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009.
REUTERS/Jim Bourg/File Photo Acquire Licensing RightsCompanies Concord Management, Ltd FollowWASHINGTON, Sept 19 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Tuesday charged Concord Management and its owner with failing to register with regulators while operating as an investment adviser to an unidentified billionaire former Russian official.
Concord Management LLC of Tarrytown, New York, and owner Michael Matlin were operating as unregistered investment advisers to a single client, a former Russian official with apparent connections to the Russian Federation, the SEC said in a statement.
Matlin founded Concord in 1999 to provide investment advice and supervise investments in U.S. private funds, the SEC said.
The firm monitored investments for the Russian individual until March 2022, when the United Kingdom and European Union sanctioned the unidentified client, it said.
Persons:
Jim Bourg, Michael Matlin, Matlin, Abramovich, Chris Prentice, Rami Ayyub, Katharine Jackson, Josie Kao, Mark Potter, David Gregorio Our
Organizations:
U.S . Securities, Exchange Commission, SEC, REUTERS, Concord Management, WASHINGTON, Russian, Russian Federation, Concord, New York Times, Reuters, European Union, Thomson
Locations:
Washington, Tarrytown , New York, United Kingdom, New York