证券交易委员会就「摘樱桃」案申请最终判决：西方资产前高管付300万美元 逾1亿美元返还投资者
美国证券交易委员会（SEC）10月6日宣布，已向法院申请对西方资产管理公司（Western Asset Management）前联席首席投资官斯蒂芬·肯尼思·利奇二世（Stephen Kenneth Leech II）作出最终判决。
SEC在2024年11月的起诉书中指控，至少在2021年1月至2023年10月期间，利奇在交易后拖延分配，待期货市场每日结算价确定、看清涨跌后再把交易分配给不同组合——将数亿美元的单日盈利不成比例地分给受优待的组合，把类似金额的亏损分给其他组合，即业内所称的「摘樱桃」。
利奇在不承认指控的情况下同意判决：支付300万美元民事罚款、被处以管理人员禁任，并被永久禁止违反联邦证券法反欺诈条款；他还同意接受行业禁入处分。2026年6月，SEC已与西方资产管理公司达成和解，该公司支付1亿美元罚款并设立公平基金。两笔款项合计约1.03亿美元将返还给受损投资者。判决尚待法院批准。
SEC Seeks Final Judgment in Cherry-Picking Case: $103 Million to Be Returned to Harmed Investors
The U.S. Securities and Exchange Commission announced on October 6 that it has asked a court to enter a final judgment against Stephen Kenneth Leech II, the former co-chief investment officer of registered investment adviser Western Asset Management Company.
In its November 2024 complaint, the SEC alleged that from at least January 2021 through October 2023, Leech placed trades and then routinely delayed allocations until near or after futures markets set daily settlement prices, letting him steer hundreds of millions of dollars in first-day gains to favored portfolios and a similar amount of losses to disfavored ones — a practice known as cherry-picking.
Without admitting the allegations, Leech consented to a judgment ordering him to pay a $3 million civil penalty, imposing an officer-and-director bar and permanently enjoining him from violating the antifraud provisions of the federal securities laws; he also agreed to an industry bar. In June 2026 the SEC settled with Western Asset, which paid a $100 million penalty and established a Fair Fund. Together, about $103 million is to be returned to harmed investors. The judgment is subject to court approval.
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