It’s a bit late in the game for the wealthy investors allegedly fleeced by Bayou Management, but securities regulators have moved to shut down the scandal-tarred hedge fund’s affiliated brokerage firm.
On Sept. 8, two weeks after news broke about the alleged $300 million fraud at the Connecticut hedge fund, the NASD suspended Bayou Securities’ membership for failing to pay an undisclosed sum to a former employee who filed a 2004 arbitration claim against the small brokerage….
