SEC v. Bluesky Eagle Capital Management Ltd.

Bluesky Eagle allegedly made material misrepresentations and unsubstantiated statements in forms filed with the SEC regarding their organizations, office locations, assets under management, and clients. According to the SEC’s complaints, Bluesky Eagle claimed to manage $10 million in assets in the United States and claimed to advise a private fund, and that a separate registered investment adviser reported information about those private funds on its own Form ADV. Bluesky Eagle claimed that they are a public company operating out of office space in New York City. The complaints allege that the current business residents of the New York office space have no knowledge of the entity or its purported management personnel claiming to operate there, and the other adviser has not reported information about the purported private funds. The complaints also allege that Bluesky Eagle claimed to be a public company, but that a search of the Commission’s public company database yields no information on Bluesky Eagle. Additionally, the complaints allege that Bluesky Eagle failed to respond to requests by the Commission to provide records to substantiate the information on their Forms ADV, including the amount of assets under management in the United States.

Summary generated from official Securities and Exchange Commission press release