It goes like this...
Stephen Hicks, despite being convicted of securities fraud, may still be allowed to trade or work in the investment field unless he has been explicitly barred or banned by a regulatory authority.
The available information reveals that Hicks was involved in a major SEC enforcement action where he and his hedge fund advisories were charged with defrauding investors by misrepresenting liquidity of assets, overvaluing portfolio positions, and misusing investor funds. In 2017, a federal court ordered Hicks and his firms to pay nearly $13 million in disgorgement and penalties, with an injunction forbidding further violations of the Investment Advisers Act.
However, being convicted or found liable in civil or regulatory cases does not automatically prohibit a person from trading securities or managing funds. Regulatory agencies like the SEC can impose bans or suspensions preventing an individual from acting as an investment adviser or broker, but such sanctions must be explicitly issued. Without a permanent or temporary ban on securities activities, Hicks could technically continue to trade or manage funds.
The precise details of any bans, suspensions, or ongoing restrictions specifically preventing Hicks from trading are not evident in the available sources. If he has not been formally barred from trading, his continued trading or management activities might still be legally permitted despite past convictions.
In summary, while Stephen Hicks has been convicted and penalized for securities fraud, unless there is a specific regulatory ban or court order that forbids him from trading or managing securities, he technically may still be allowed to trade. Repeat offenses would typically result in more severe penalties and potentially stricter restrictions if future violations occur.
Anyway the chips fall. There is no better substitute than YOUR OWN DD
Including mine...good luck!
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