The U.S. Securities and Exchange Commission (SEC) barred a hedge fund adviser, Owen Li, from the securities industry for making a series of false statements to investors and ultimately precipitating a fund’s collapse. Li was portfolio manager of a hedge fund called Canarsie Capital Fund Master, and during a three-year period, he made false statements to investors and prospective investors about his personal investment in the fund. Also Li did not inform them that he had depleted his personal assets through risky trading in his personal brokerage accounts. Apart from this, he made false and misleading statements and omissions about...