Dispute
cmdty fx repo real
estate
short
term
loans
equity fx  ir  cmdty note

Incident

Incident
Bank Of Montreal U Turn Quotes
Incident Summary
SEC Charges New York Traders at BMO with overvaluing OTC traded derivatives using non-binding sham U-Turn quotes provided by RealMarks, a reportedly independent pricing service run by an individual with multiple felony convictions who served years in prison.
Alleged Loses:
$853,000,000
Date
Nov 18, 2008
Post Madoff
No

Red Flags

Red Flag Summary
No independent valuations -Overvalued The Commodity Derivatives Trading Portfolio.
Ten12 Red Flags
Other Red Flags
Ten12 Security prices
Investment Advisor Analysis
Fund Vendor Analysis
Non Registered Funds

Fund(s)/Portfolio(s):

Commodity

Vendors

Accountant

Custodian Bank

Fund Administrator

Pricing Vendor

Prime Broker(s)

-

-

-

-

-

Entity

Fined Entity

Fines & Penalties

- David Lee,David Lee,Kevin P. Cassidy,Edward O'Connor,Scott Connor,Optionable

- $10,410,000

People