Category Archives: Syndicated
Dreier Fraud Case Leads to Guilty Plea by Ex-SEC Lawyer Miller
Bloomberg – Robert L. Miller, once an attorney at the U.S. Securities and Exchange Commission, pleaded guilty to federal charges that he helped imprisoned New York law firm founder Marc Dreier defraud hedge funds. Miller, the third person to plead […]
Hedge fund scam suspect in on the run in Mumbai: FBI
Business Standard – Deep Shah, an Indian-origin suspect in the largest ever hedge fund scam in the US is on the run and is believed to be in Mumbai, federal authorities have said. Shah, 27, and Gautam Shankar, 35, were […]
Ernst & Young survey hedge funds moving swiftly for investors demand
Channel News Asia – A survey by accounting firm Ernst & Young has found that the global downturn is forcing hedge fund managers to respond swiftly to investors’ demands. The survey of 100 of the world’s largest hedge funds notes […]
UK Tsy’s Myners Calls For Onshore Hedge Fund Regime
WSJ – The U.K. should develop a viable onshore regulated hedge fund industry, Paul Myners, the U.K. Treasury’s financial services secretary, said Monday. Myners said he endorsed the findings of a government-sponsored report on the future of the U.K. asset […]
NY jurors to get case at hedge trial
AP – The case of two former Bear Stearns hedge fund managers charged with lying to investors is moving into the final stages. Deliberations were expected to begin Monday at the Brooklyn trial of Ralph Cioffi and Matthew Tannin. They’ve […]
‘Tyranny of Distance’ Hampers Australian Hedge Fund Revival
Bloomberg – After a decade running Sydney-based hedge fund Commodity Strategies Ltd., founder Rob Holroyd is planning a move to New York or Switzerland in search of cash. Investors have increased due-diligence after Bernard Madoff’s Ponzi scheme, and scrutiny is […]
EU hedge fund plan may choke investment-UK minister
Reuters – European Union plans to tighten regulation of hedge funds and private equity managers could choke off investments and deepen the credit crunch, British Business Secretary Peter Mandelson said in the text of a speech to be delivered on […]
Citigroup Eyes Relaunch of Hedge Fund Unit, Report Says
NYT – Citigroup is preparing to relaunch its hedge fund business operations, after months of debate on the unit’s future, The Financial Times reported. The move comes after two years of performance problems and investor unrest at the unit, Citi […]
Four Indians among 20 charged in hedge fund scam
PTI News – The FBI has charged a further 14 people, including two Indians and Wall Street professionals, in a widening USD 53 million insider trading scam, the largest ever such case in the United States. The latest action brings […]
India shows hedge-fund savvy with gold grab
Business Day – India is going its own way with a $US6.7 billion ($7.4 billion) gold purchase. The transaction turned heads in markets. While India’s people are major gold hoarders, the government hasn’t been a big one. India really did […]
State Oversight of Some Hedge Funds Raises Flags
WSJ – Pending legislation aimed at tightening regulation of financial services would give state authorities significant clout in overseeing hedge funds, a move some regulators fear could undermine Congress’s goal. The House Financial Services Committee passed a bill Wednesday that […]
What the SEC Should Learn from Galleon
Seeking Alpha – The government’s case against Raj Rajaratnam, founder of hedge fund Galleon Group, on the charge of insider trading, alleges that the hedge fund manager’s primary competitive advantage for investors was a web of connections close to or […]