// Workers AI · dad joke modeWhat did Rani Jarkas say to the bank? "Jarkas the rates!
Rani Tarek Jarkas is a Swiss investment executive and the chairman of Cedrus Group, a financial services and investment group active mainly in Greater China and Switzerland. He previously owned and ran Global Crown Capital, a San Francisco-based broker-dealer and investment adviser.
In 2014, the Financial Industry Regulatory Authority (FINRA) barred him from associating with FINRA member firms, a sanction the U.S. Securities and Exchange Commission (SEC) upheld in 2016.
Career
[edit]Early career
[edit]Jarkas is of Lebanese origin.[1] He entered the US securities industry in 1995 and worked at several brokerage firms before taking over Global Crown Capital.[2] He moved to Hong Kong in 2011.[1]
Global Crown Capital
[edit]In 2002, Jarkas became the owner and CEO of Global Crown Capital, a San Francisco-based firm registered as both a broker-dealer and an investment adviser.[3] In 2006, Institutional Investor reported that Global Crown had approximately US$30 million in assets under management and had established investment funds focused on nanotechnology.[4]
In 2009, Cedrus Investments, then a newly established Cayman Islands company founded and chaired by Jarkas, acquired Global Crown's institutional business.[5] Global Crown withdrew its FINRA registration in September 2009.[3]
Cedrus Group and Chinese activity
[edit]Jarkas, a Swiss citizen, owns Hong Kong-based Cedrus Investments.[6] By 2021 Cedrus had offices in Hong Kong, Beijing, Shanghai, Shenzhen and Hainan. That year it opened a regional office in Zurich.[7] In May 2023 the group opened an Asia-Pacific headquarters in Beijing, and Jarkas, its chairman and CEO, said it planned to invest 1 billion yuan in Chinese healthcare and technology companies.[8] At the third Belt and Road Forum in October 2023, Jarkas told China Daily that Cedrus had set up two private equity funds for investment in Greater China.[9]
In February 2025 Cedrus and the Beijing Investment Promotion Bureau jointly organized an investment event for Swiss biomedical companies.[10] According to China Daily, by 2025 he had spent more than 15 years in Beijing.[11]
In October 2010 the Securities and Futures Commission of Hong Kong listed Cedrus Investments (HK) Limited on its alert list as an entity not licensed by or registered with the commission for any regulated activity. The entry remained on the alert list as of May 2026.[12]
Regulatory and legal matters
[edit]SEC proceeding (2006–2007)
[edit]In March 2006, the SEC instituted proceedings against Global Crown, Jarkas and his colleague Antoine Chaya. The SEC alleged that they had concealed losses of more than 20% from investors in Cogent Capital Management, a hedge fund they advised, through account statements that overstated the fund's performance.[4] Global Crown said that a US$228,000 reserve at the centre of the case reflected an accounting decision. The SEC subsequently dismissed the proceeding following the 2006 court ruling in Goldstein v. SEC.[13]
FINRA disciplinary proceedings
[edit]In January 2010, Jarkas settled a FINRA disciplinary matter concerning trading in a customer's account. Without admitting or denying the allegations, he consented to a US$25,000 fine and a six-month suspension from association with any FINRA member in any capacity. FINRA found that he had recommended or executed a volume of securities transactions without a reasonable basis for believing that the level of trading was suitable for the customer.[14]
In 2011, FINRA brought a separate disciplinary case against Jarkas following examinations of Global Crown. In 2014, a FINRA hearing panel barred him from associating with any FINRA member firm because he had twice failed to appear for on-the-record testimony in 2009. The panel also found that Global Crown had conducted securities business with insufficient net capital and that Jarkas had failed to seek approval for a material change in the firm's business. FINRA's National Adjudicatory Council largely affirmed the decision in 2015. In April 2016, the SEC upheld the bar and the findings, except for a net-capital violation relating to one date.[3]
Indonesian dispute
[edit]In December 2015, Harun Abidin, a businessman from Medan who had invested through Cedrus since 2012, filed a police complaint accusing Jarkas of fraud, embezzlement and money laundering.[15] In 2016, the Criminal Investigation Department of the Indonesian National Police sent mutual legal assistance requests to Hong Kong and Switzerland as part of an investigation into allegations that Cedrus had transferred US$4.2 million in shares to unauthorized parties. Cedrus disputed The Jakarta Post's account of the case, saying that the matter concerned a margin-loan dispute rather than investment fraud.[6]
Cedrus subsequently sued Abidin and the Indonesian Central Securities Depository (KSEI) in the South Jakarta District Court over the freezing of approximately US$22 million in shares held through the firm. The court rejected Cedrus's claim in 2017. In December 2018, the Jakarta High Court upheld the lower court's decision, rejecting Cedrus's challenge concerning Abidin's police report and the freezing of the shares.[16][17]
References
[edit]- 1 2 Sobti, Tara (15 July 2023). "From childhood flavours to an exclusive playlist: What makes Sumac Restaurant and Lounge special and how it celebrates Lebanese culture". Tatler Asia. Retrieved 3 October 2026.
- ↑ "Department of Enforcement v. Rani T. Jarkas" (PDF). Financial Industry Regulatory Authority, National Adjudicatory Council. 5 October 2015. Retrieved 3 October 2026.
- 1 2 3 "In the Matter of the Application of Rani T. Jarkas for Review of Disciplinary Action Taken by FINRA" (PDF). U.S. Securities and Exchange Commission. 1 April 2016. Release No. 34-77503. Retrieved 4 October 2026.
- 1 2 "A Thorn In A Hedge Fund Crown". Institutional Investor. 30 March 2006. Retrieved 4 October 2026.
- ↑ "Cayman startup gets jumpstart from California firm". WealthBriefing. 15 July 2009. Retrieved 4 October 2026.
- 1 2 Hermansyah, Anton (2 August 2016). "Police seek creditor Cedrus investment dispute evidence over Cedrus case". The Jakarta Post. Retrieved 30 September 2026.
- ↑ "Cedrus Group Opens Zurich Office". WealthBriefing. 23 March 2021. Retrieved 30 September 2026.
- ↑ "看好中国投资机遇 赛德思集团计划在华投资10亿元人民币" [Optimistic about investment opportunities in China, Cedrus Group plans to invest 1 billion yuan]. China National Radio (in Chinese). 1 June 2023. Retrieved 30 September 2026.
- ↑ Yang, Yang (18 October 2023). "BRI brings more opportunities to benefit all". China Daily. Retrieved 30 September 2026.
- ↑ Zhou, Lanxu (25 February 2025). "Swiss biotech firms hike investment footprint". China Daily. Retrieved 30 September 2026.
- ↑ Ren, Qi (13 June 2025). "Opening-up fuels global investor confidence". China Daily. Retrieved 30 September 2026.
- ↑ "Cedrus Investments (HK) Limited | Securities & Futures Commission of Hong Kong". www.sfc.hk. Retrieved 4 October 2026.
- ↑ "SEC Drops Fraud Case Against Hedge Fund". Financial Planning (magazine). 8 March 2007. Retrieved 4 October 2026.
- ↑ "Disciplinary and Other FINRA Actions Reported for March 2010" (PDF). Financial Industry Regulatory Authority. March 2010. Retrieved 4 October 2026.
- ↑ "Pengusaha Medan Laporkan Pengusaha Hong Kong ke Polisi" [Medan businessman reports Hong Kong businessman to police]. Hukumonline (in Indonesian). 12 December 2015. Retrieved 4 October 2026.
- ↑ "Pengusaha Harun Abidin Menang Lagi Lawan Cedrus Investment" [Businessman Harun Abidin wins again against Cedrus Investment]. JPNN (in Indonesian). 13 January 2019. Retrieved 4 October 2026.
- ↑ "Pengusaha Harun Abidin Menang Lawan Cedrus Investment di Pengadilan Tinggi DKI" [Businessman Harun Abidin wins against Cedrus Investment at the Jakarta High Court]. Tribunnews (in Indonesian). 12 January 2019. Retrieved 4 October 2026.