Monthly Archives: June 2010
Hedge Fund Trader Banned For Manipulating Stock Prices
New York (HedgeCo.net) – Financial Industry Regulatory Authority (FINRA) has permanently barred a former Deutsche Bank broker from the securities industry for manipulating the price of Monogram Biosciences (MGRM) stock in an effort to enrich a hedge fund client, himself […]
People Moves: Ross Ciesla Joins UK Hedge Fund Manager Veritas
People Moves – UK hedge fund manager Veritas Asset Management (Veritas) has appoionted Ross Ciesla as Senior Private Client Director of its private client business. Ross will start at Veritas towards the end of the year. Ross joins Veritas from […]
Active funds face squeeze in asset scramble
Reuters – Fund managers who charge clients for their asset-picking skills are facing an intense competitive squeeze as growth in new client money dwindles and performance is laid bare by the death of boom markets. This was the message at […]
Japan’s Hedge-Fund Startups Luring Investor Interest, BofA Says
Bloomberg – Japanese hedge-fund startups are beginning to attract the interest of overseas investors as the nation’s industry has the best performers this year, according to Futoshi Ago at Bank of America Corp. New hedge funds set up by managers […]
N.Y. Move Could Double-Tax Hedge Fund Managers
NYT – Finally, Gov. David A. Paterson and legislative leaders have found something they can agree on: that hedge fund managers from Connecticut and New Jersey should pay the state of New York millions more in taxes. As they grapple […]
Volcker Said to Be Disappointed With Final Version of His Rule
Bloomberg – Paul Volcker is disappointed with the final version of the rule that bears his name. As first envisioned, the Volcker rule would have banned banks from running private-equity and hedge funds, an attempt to curb risk-taking that fueled […]
Cambodia Is Hard Sell for Investment Companies
NYT – Douglas Clayton arrived in Phnom Penh in 2007 to start a private equity fund, looking to get $100 million in funds under management. His firm, Leopard Capital, started in 2008, is one of four private equity funds here […]
People Moves: Convertible Securities And Hedge Fund Specialist Joins Cowen Group
New York (HedgeCo.net) – Hedge fund manager alternative investment specialist Cowen Group, Inc. has hired Thomas O’Mara as Head of Equity Derivatives and Convertibles. O’Mara will be primarily responsible for expanding the firm’s equity derivative capabilities and building out a […]
Compliance Officer At Hedge Fund Charged With Fraud
New York (HedgeCo.net) – The former Chief Compliance officer of an Idaho hedge fund has been charged with fraud for misappropriating $650,000 in investor funds, the SEC said in a release today. The SEC alleges that between 2007 and 2009 […]
New York May Tax Out-of-State Hedge Fund Execs
NYT – Recession-hit New York could raise an extra $50 million a year by collecting income taxes from people who work for hedge funds in the state, but live elsewhere, according to a legislative plan to raise revenue, Reuters reported. […]
Volcker Rule May Give Goldman, Citigroup Until 2022 to Comply
Bloomberg – Goldman Sachs Group Inc. and Citigroup Inc. are among U.S. banks that may have as long as a dozen years to cut stakes in in-house hedge funds and private- equity units under a regulatory revamp agreed to last […]
Swiss hedge fund axes manager after big losses
Reuters – One of this year’s worst performing hedge funds has axed its manager after big losses and a breach of internal rules, as the industry struggles to reproduce last year’s bumper returns in volatile markets. Switzerland-based investment firm SwissDirekt […]