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SEC rejects $18M deal with Falcone, hedge fund

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WASHINGTON (AP) — The Securities and Exchange Commission has rejected an $18 million settlement that would have banned billionaire hedge-fund manager Philip Falcone from the securities industry for two years. Falcone and Harbinger Capital Partners were told Thursday that SEC commissioners voted down the settlement, according to a filing Friday by parent company Harbinger Group Inc. The SEC's...

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