Hedge Fund News From HedgeCo.Net


Merrill Lynch to Pay $415 Million for Misusing Customer Cash and Putting Customer Securities at Risk

(HedgeCO.NET) — The Securities and Exchange Commission today announced that Merrill Lynch has agreed to pay $415 million and admit wrongdoing to settle charges that it misused customer cash to generate profits for the firm and failed to safeguard customer […]

SEC Sues UK-Based Trader for Account Intrusion Scheme

(HedgeCo.Net) — The Securities and Exchange Commission today announced it has obtained an emergency court order to freeze the assets of a United Kingdom resident charged with intruding into the online brokerage accounts of U.S. investors to make unauthorized stock […]

SEC Halts Scheme Defrauding Pro Athletes

(HedgeCo.Net)— The Securities and Exchange Commission today announced that it has obtained a court order freezing the assets of an investment adviser it has charged with secretly siphoning millions of dollars from accounts he managed for professional athletes and investing […]

Muni Advisors Acted Deceptively With California School Districts

(HedgeCo.Net) The Securities and Exchange Commission today announced that two California-based municipal advisory firms and their executives have agreed to settle charges that they used deceptive practices when soliciting the business of five California school districts. An SEC investigation found […]

SEC Approves IEX Proposal to Launch National Exchange, Issues Interpretation on Automated Securities Prices Staff Issues Guidance on Speed Bumps

(HedgeCo.Net) The Securities and Exchange Commission today approved Investors’ Exchange LLC’s (IEX) application to register as a national securities exchange. At the same time, the Commission issued an updated interpretation that will require trading centers to honor automated securities prices […]

Private Fund Administrator Charged With Gatekeeper Failures

(HedgeCo.Net)— The Securities and Exchange Commission today announced that a firm providing administrative services to private funds has agreed to pay more than $350,000 to settle charges that it failed to heed red flags and correct faulty accounting by two […]

Digital First Media Workers Take on Alden Global Capital Hedge Fund

(HedgeCo.Net) Digital First Media workers and advocates for responsible and quality journalism are launching a campaign to demand investor transparency by Alden Global Capital, the hedge fund that purchased Digital First Media newspapers and properties beginning in 2009. Alden has […]

Muni Advisors Acted Deceptively With California School Districts

(HedgeCo.Net)— The Securities and Exchange Commission today announced that two California-based municipal advisory firms and their executives have agreed to settle charges that they used deceptive practices when soliciting the business of five California school districts. An SEC investigation found […]

Investment Fraud Victims Include Online Daters

(HedgeCo.Net) — The Securities and Exchange Commission today announced fraud charges and an asset freeze obtained against a Connecticut man accused of misleading people into investing in his company and then taking their money for his personal use. His victims […]

SEC to Permit Voluntary Filing Using Inline XBRL

(HedgeCo.Net) — The Securities and Exchange Commission today announced that it will allow companies to voluntarily file structured financial statement data in a format known as Inline XBRL. This initiative represents another step in the SEC’s continuing efforts to modernize […]

Horseshoe Group Acquires IKONIC Fund Services

(HedgeCo.Net) Horseshoe Group (“Horseshoe”) acquires IKONIC Fund Services (“IKONIC”) to form a leading independent fund administrator and insurance manager dedicated to both the Insurance Linked Securities and the alternative fund markets. The transaction, which closed last week subject to customary […]

SEC Issues $17 Million Whistleblower Award

(HedgeCo.NET) The Securities and Exchange Commission today announced a whistleblower award of more than $17 million to a former company employee whose detailed tip substantially advanced the agency’s investigation and ultimate enforcement action. The award is the second-largest issued by […]

SEC: Morgan Stanley Failed to Safeguard Customer Data

(HedgeCo.Net) The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney LLC has agreed to pay a $1 million penalty to settle charges related to its failures to protect customer information, some of which was hacked and offered […]

Childhood Friends Charged With Insider Trading in Pharmaceutical Stocks

(HedgeCo.NET) The Securities and Exchange Commission today charged two Rhode Island men with insider trading in the securities of deal targets being pursued by the pharmaceutical company where one of them worked. The SEC alleges that Michael J. Maciocio obtained […]

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Syndicated Headlines
  • Europe Stocks Set for Worst Drop Since 1987 as U.K. Votes Leave
    Yesterday, June 24, 2016 : Permalink

    (Bloomberg) European stocks tumbled, poised for their biggest plunge in decades, after the U.K. voted to leave the European Union, putting an end to investor optimism that pushed equities up for five straight days. The Stoxx Europe 600 Index sank […]

  • Carney Pledges $345 Billion to Fund First Line of Brexit Defense
    Yesterday, June 24, 2016 : Permalink

    (Bloomberg) Mark Carney said the Bank of England is ready to pump billions of pounds into the financial system as he stands at the front line of Britain’s defense against a Brexit-provoked market crisis. The BOE governor declared that the […]

  • Gross, Ivascyn See Flight to Havens in Historic Brexit Jolt
    Yesterday, June 24, 2016 : Permalink

    (Bloomberg) Investors should turn toward havens like bonds and away from stocks as markets sort through the repercussions of the U.K. referendum to exit the European Union, according to money managers Bill Gross and Dan Ivascyn. “Obviously safe-haven bonds instead […]

  • Asian Traders ‘Seasick’ as UK Votes for Brexit
    Yesterday, June 24, 2016 : Permalink

    (Reuters) Asian currency, bond and equity traders kicked off an early day of choppy trading as a British vote to leave the European Union sent shivers across trading floors, having kept many investors glued to their television screens. Trading desks […]



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