{"id":5633,"date":"2014-05-27T00:00:00","date_gmt":"2014-05-27T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/05\/sec_judge_bans_money_manager_f"},"modified":"2022-05-06T10:53:59","modified_gmt":"2022-05-06T15:53:59","slug":"sec-judge-bans-money-manager-f","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-judge-bans-money-manager-f\/","title":{"rendered":"SEC Judge Bans Money Manager For Misleading Morningstar and the Public"},"content":{"rendered":"

U.S. Securities and Exchange Commission judge Cameron Elliot has banned Max E. Zavanelli, a separate-account money manager from the securities industry. Now, Zavanelli and his firm, ZPR Investment Management Inc., must pay $660,000 for misleading research firm Morningstar Inc. and the public.<\/p>\n

ZPR Investment Management, in its filing with securities regulators, names over $200 million in assets from 119 accounts. Its clients include pension plans, high net worth individuals, and charitable organizations.<\/p>\n

According to Judge Elliot, Zavanelli misrepresented and left out important information in newspaper ads, newsletters, and reports to Morningstar. Firm performance data is believed to have falsely implied compliance with the Global Investment Performance Standards. These are the standardized, voluntary ethical principals for investment advisers that call for fair representation and full disclosure. It also includes guidance for advertisements that maintain they are in compliance with GIPS.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

U.S. Securities and Exchange Commission judge Cameron Elliot has banned Max E. Zavanelli, a separate-account money manager from the securities industry. Now, Zavanelli and his firm, ZPR Investment Management Inc., must pay $660,000 for misleading research firm Morningstar Inc. and the public. ZPR Investment Management, in its filing with securities regulators, names over $200 million […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3741],"tags":[],"class_list":["post-5633","post","type-post","status-publish","format-standard","hentry","category-securities-fraud"],"yoast_head":"\nSEC Judge Bans Money Manager For Misleading Morningstar and the Public — Investor Lawyers Blog — May 27, 2014<\/title>\n<meta name=\"description\" content=\"U.S. Securities and Exchange Commission judge Cameron Elliot has banned Max E. 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