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SEC charges South Florida investment advisory firm, president

The Securities and Exchange Commission on Thursday announced charges against Miami-based E*Hedge Securities,Inc. and its president, Devon W. Parks, for failing to provide required books and records during a commission examination and for improperly registering with the commission as an Internet investment adviser.

According to the SEC’s complaint, from mid-April 2020 to the present, E*Hedge and Parks, while operating COVID-19-related investment websites, have failed to produce books and records requested by SEC examination staff, as required by the Investment Advisers Act of 1940. The complaint alleges that this is the second time E*Hedge and Parks have failed to respond to an SEC examination attempt. The complaint further alleges that E*Hedge is improperly registered with the commission as an Internet investment adviser because it does not meet the applicable registration requirements, and does not otherwise appear to be qualified for registration with the commission.

The SEC’s complaint, filed in federal court in the Southern District of Florida, charges E*Hedge with violating the books and records provisions of Section 204(a) of the Advisers Act and the registration provisions of Section 203A of the Advisers Act, and Parks with aiding and abetting those violations. The SEC’s complaint seeks preliminary and permanent injunctive relief, an order to preserve and produce records, and civil penalties.

The SEC’s investigation was conducted by Michelle Bosworth under the supervision of Elisha L. Frank and Glenn S. Gordon. The litigation will be led by Alise Johnson under the supervision of Andrew O. Schiff.  The examination that led to this enforcement action was conducted by Omar Santos, Ileana J. Rodriguez, Michael Devine, Jesse Alvarez, and John C. Mattimore of the SEC’s Office of Compliance Inspections and Examinations.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.