Tuesday, February 2, 2016

Ohio Division of Securities, In the Matter of Timothy K. Fife – Ohio IA Registration to be Revoked

In February 2016, after evidentiary hearings, the Hearing Examiner recommended that Timothy Fife’s investment adviser representative registration be revoked. The Report and Recommendation is available here. Fife's registration is being revoked because he provided investment advice and initiated securities transactions while not licensed in Ohio and because he recommended the unsuitable purchase and holding for extended periods of time of leveraged and inverse ETFs. Dr. McCann testified on behalf of the Ohio Division of Securities.

SLCG’s peer-reviewed publication on leveraged and inverse ETFS include “Leveraged ETFs, Holding Periods and Investment Shortfalls” published in the Journal of Index Investing and available here, “The Properties of Short Term Investing in Leveraged ETFs published in the Journal of Financial Transformation and available here, and “Crooked Volatility Smiles: Evidence from Leveraged and Inverse ETF Options” published in the Journal of Derivatives & Hedge Funds and available here.


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