Falcone's Proposed Settlement: Is His Career Over?

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May 9 (Bloomberg) -- Philip Falcone, the billionaire hedge-fund manager who was sued by U.S. regulators over claims he improperly borrowed client money to pay taxes, has agreed to be barred from acting as an investment adviser for two years. Falcone’s Harbinger Capital Partners LLC has also agreed to pay about $18 million in disgorgement, interest and penalties to resolve the Securities and Exchange Commission claims that were filed in June, the company said today in a public filing. Max Abelson and Erik Schatzker report on Bloomberg Television's "Market Makers."

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