Dec 23 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
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
Both the parties could not immediately be reached for
comment by Reuters outside regular U.S. business hours.