Hedge fund manager Falcone rejects SEC settlement offer-WSJ
Dec 23 (Reuters) - Hedge fund manager Philip Falcone has rejected a U.S. Securities and Exchange Commission (SEC) settlement offer that would have banned him from the securities industry, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Falcone and two top lieutenants, including his general counsel Robin Roger, had earlier received Wells Notices from the SEC.
This means the regulators are considering bringing an enforcement action against them over a number of potential violations, including alleged manipulative trading in debt securities during the period from 2006 to 2008.
An SEC spokesman declined to comment to the Journal. A spokesman for Falcone's Harbinger Capital Partners told the newspaper that "any comment on settlement talks would be inappropriate."
Both the parties could not immediately be reached for comment by Reuters outside regular U.S. business hours.
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