The National Association of Securities Dealers said on
Tuesday that it has permanently barred John F. Mangan, Jr., a
hedge fund manager and former broker at Friedman Billings
Ramsey Group, from working in the brokerage business.
Mangan, who once managed a group of proprietary FBR hedge
funds and was most recently running hedge fund firm Mangan
& McColl Partners, will also pay a $125,000 fine to