SEC Rejects $18M Settlement With Falcone, Harbinger Capital

The Securities Exchange Commission (SEC) voted not to approve the agreement with Philip Falcone’s Harbinger Capital Partners. The regulator informed Harbinger Capital of its decision yesterday, according to a filing from Harbinger Group Inc (NYSE:HRG). The SEC’s rejection relates to the proposed $18 million settlement with Philip Falcone’s Harbinger Capital Partners LLC of claims that Philip Falcone borrowed money from his fund. Rejection of in principle deal Earlier it was reported that Harbinger CEO Philip Falcone has reached a settlement with the SEC that will see him banned from most work in the financial industry for two years. However, it…